Martin County Single Family Homes May 2024 Market Report
The Martin County Single Family Homes Market Report showed slightly weaker sales activity when compared to last year. We continue to face economic uncertainties and high mortgage rates. Closed sales were down by 0.5% from last year (they were down by 2.0% in April). At the same time, new pending sales decreased by 1.6% compared to last year (which decreased by 0.5% last month).
Prices were mixed for May when compared to last year. The median sales price decreased from last year by 9.2% (up by 6.6% in April) while the average sales price increased by 6.1% (up by 2.2% last month).
The inventory of available single-family homes decreased by 53 homes to 722. This is a 55.9% greater inventory than last May. The current supply of homes is 4.4 months. For May of last year, it was 2.9 months of supply. We are still in a seller’s market for Martin County single-family home sales, but trending towards a more balanced market. A balanced market favoring neither buyers nor sellers is considered a 6 to 7-month supply of inventory.
Please click on the image or link below to download the full Florida single-family real estate market report.
Click here to view the previous Martin County single-family homes market reports
- St Lucie County Townhouses and Condos August 2024 Market Report
- St Lucie County Single Family Homes August 2024 Market Report
- Martin County Townhouses and Condos August 2024 Market Report
- Martin County Single Family Homes August 2024 Market Report
- St. Lucie County Townhouses and Condos 2024 2nd Quarter Report
- St. Lucie County Single Family Homes 2024 2nd Quarter Report
To view the latest set of reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit GabeSanders.com and select Market Data.
Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.
Leave a Reply