T
he Treasure Coast real estate market experienced a shift in November, with a decrease in homes sold and median sale price across Martin, St. Lucie, and Indian River counties. However, the number of active listings increased, surpassing pre-pandemic numbers for the first time since 2020. According to local Realtor data, there were 4,351 active listings in November, a significant milestone that indicates a "healthy" market with a balanced supply of homes.

    This balance is defined by having 5.5 months' worth of inventory, which favors neither buyers nor sellers. In contrast, the previous month's numbers favored sellers, with Martin and St. Lucie counties within a four-month range. David Serle, president of Broward, Palm Beaches & St. Lucie Realtors, noted that the market continues to trend favorably, with inventory increasing across all three counties.

    Mortgage rates also saw an increase in November, with 30-year and 15-year fixed rates reaching 6.81% and 6.10%, respectively. The median sale price decreased in Martin, St. Lucie, and Indian River counties compared to October: $550,000 in Martin, $395,500 in St. Lucie, and $406,500 in Indian River.

    Home sales also declined in November, with 127 homes sold in Martin County, 325 in St. Lucie, and 176 in Indian River. Conversely, the number of homes listed increased: 800 in Martin, 2,311 in St. Lucie, and 1,240 in Indian River. The homes inventory remained "healthy" across all three counties, with a median time between listing and contract signing decreasing to 38 days in Martin County.