Martin County Single Family Homes November 2024 Market Report
The Martin County Single Family Homes real estate market had mixed sales activity when compared to last year. We continue to face headwinds with many economic uncertainties and high mortgage rates, though recent moves from the Fed should help, hopefully sooner than later. Closed sales were down 3.8% from last year (they were up by 16.3% in October). At the same time, new pending sales were up by 29.8% compared to last year (which increased by 7.4% last month).
Prices deteriorated for November when compared to last year. The median sales price decreased by 7.6% from last year (up by 7.5% in October) and the average sales price decreased by 17.7% (up by 19.6% last month). Full year analysis next month will reveal the actual trend in prices.
The inventory of available single-family homes increased by 33 homes this month to 800. This is a 36.8% greater inventory than last November. The current supply of homes is 5 months. For November of last year, it was 3.6 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
- Martin County Single Family Homes November 2024 Market Report
- St Lucie County Townhouses and Condos October 2024 Market Report
- St Lucie County Single Family Homes October 2024 Market Report
- Martin County Townhouses and Condos October 2024 Market Report
- Martin County Single Family Homes October 2024 Market Report
- St. Lucie County Townhouses and Condos 2024 3rd 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.
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