T
he Treasure Coast real estate market in December saw a slight decrease in new listings, but an increase in home sales across Martin, St. Lucie and Indian River counties. According to local Realtor data, active listings dropped from 4,351 to 4,313 total homes, surpassing pre-pandemic numbers that peaked at 4,293 in March 2020.

    The Treasure Coast is approaching a "healthy" market, defined by a 5½-month inventory of homes. With the current inventory near this threshold, the region is moving towards a balanced market, favoring neither buyers nor sellers. Jonathan Lickstein, president of Broward, Palm Beaches & St. Lucie Realtors, notes that the price of homes is stabilizing.

    More inventory is beneficial for homebuyers, as it offers more options and negotiability. However, increased competition may arise from a larger pool of buyers. The 30-year and 15-year fixed mortgage rates rose to 6.91% and 6.13%, respectively, in the last week of December, according to Freddie Mac's survey.

    Home prices saw an increase in Martin and Indian River counties in December compared to November: Martin at $585,000 (up from $550,000) and Indian River at $410,000 (up from $406,500). St. Lucie County experienced a slight decrease in median sale price to $389,900 (down from $395,500).

    Home sales increased across the three counties in December: Martin with 176 homes sold (up from 127), St. Lucie with 404 homes sold (up from 325), and Indian River with 206 homes sold (up from 176). The number of homes on the market dropped in St. Lucie and Indian River counties, while increasing slightly in Martin.

    The homes inventory remained "healthy" across the three counties, averaging around 5½ months: Martin at 5.1 months, St. Lucie at 5.1 months, and Indian River at 5.4 months. The median time between listing a house and signing a contract decreased in St. Lucie County to 54 days (down from 55), while increasing slightly in Martin and Indian River counties.