The Treasure Coast real estate market in May saw more homes listed, more homes sold, a stagnant or decreased median sale price and longer to get a signed contract compared to April, according to local Realtor data.
Active listings totaled 3,915 in May, surpassing early COVID pandemic numbers that peaked at 4,293 in March 2020, according to TCPalm data beginning in January 2020.
“The market continues to be an opportunistic market for both buyers and sellers. Inventory continues to increase but is historically low, and we are seeing more sales as the months get into the summer months,” said David Serle, president of Broward, Palm Beaches & St. Lucie Realtors.
The 30-year and 15-year fixed mortgage rates were over 6.79% and 6.18%, respectively, during the last week of May, according to Freddie Mac’s mortgage survey.
[infogram id=”80a153b4-350b-49c5-998d-2f1bec2fcf35″ prefix=”hUV” format=”interactive” title=”Market sales activity on Treasure Coast for single-family homes”]
Home price
The median sale price decreased in Martin and St. Lucie counties and remained the same in Indian River in May compared to April:
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Martin: $573,995, down $33,505
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St. Lucie: $400,000, down $3,500
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Indian River: $430,000
Home sales
The number of homes sold increased in May compared to April:
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Martin: 206, up from 197
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St. Lucie: 557, up from 544
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Indian River: 293, up from 279
Homes listed
The number of homes on the market continued to increase in May compared to April, giving buyers more options:
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Martin: 722, up from 669
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St. Lucie: 2,062, up from 2,053
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Indian River: 1,131, up from 1,137
Home sales inventory
The homes inventory in Indian River remained “healthy” in May, at about 5.5 months worth. Martin and St. Lucie remained within the four-month range, which favors sellers:
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Martin: 4.4
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St. Lucie: 4.4
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Indian River: 5.3
Time to contract
The median time between a seller listing their house and signing a contract took a few more days in May compared to April:
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Martin: 39 days, up from 36
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St. Lucie: 38 days, up from 37
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Indian River: 46 days, up from 43
Gianna Montesano is TCPalm’s trending reporter. You can contact her at gianna.montesano@tcpalm.com, 772-409-1429, or follow her on X (formerly Twitter) @gonthescene.
This article originally appeared on Treasure Coast Newspapers: Real estate: Home sale price Stuart, Vero Beach, Fort Pierce, PSL
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