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- The median home sale price increased for Martin County and decreased in Indian River County.
- The number of homes sold increased for St. Lucie and Indian River counties.
- St. Lucie and Indian River counties leaned less toward a buyer’s market.
The Treasure Coast real estate market in April saw the median home sale price decrease for Indian River County and increase in Martin County, according to local Realtor data. The median sale price in St. Lucie County was unchanged.
Home prices dropped more sharply in March following January’s surge of new single-family home listings.
“It’s not a depressed market where you’ve seen absolute massive price drops,” said Jonathan Lickstein, president of Broward, Palm Beaches & St. Lucie Realtors. “I’m not seeing anything go up drastically or going down drastically.”
The 30-year and 15-year fixed mortgage rates rose to 7.22% and 6.47%, respectively, during the last week of April, according to Freddie Mac’s mortgage survey.
Home prices
The median sale price increased for Martin County and decreased in Indian River County in April compared to March:
- Martin: $600,000, up from $590,000
- St. Lucie: $395,000, unchanged
- Indian River: $389,450, down from $390,000
Home sales
The number of homes sold increased in St. Lucie and Indian River counties in April compared to March:
- Martin: 167, down from 173
- St. Lucie: 492, up from 473
- Indian River: 261, up from 251
Home listings
The number of homes on the market decreased for St. Lucie and Indian River counties in April compared to March:
- Martin: 1,016 up from 1,005
- St. Lucie: 2,763, down from 2,797
- Indian River: 1,309, down from 1,375
Home inventory
The benchmark for a balanced market — favoring neither buyers nor sellers — is 5½ months of inventory. Anything higher is considered a buyer’s market, and anything lower is a seller’s market. St. Lucie and Indian River counties leaned less toward a buyer’s market in April compared to March:
- Martin: 6.4 months, up from 6.2 months
- St. Lucie: 6.2, down from 6.3
- Indian River: 5.9, down from 6.1
Time to contract
The median time between a seller listing their house and signing a contract took fewer days in Martin and St. Lucie counties in April compared to March:
- Martin: 37 days, down from 41 days
- St. Lucie: 47, down from 56
- Indian River: 58, up from 54
Jack Randall is TCPalm’s economy and real estate reporter. You can reach him at jack.randall@tcpalm.com or 904-466-4755.
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