Martin County Sees Year-Over-Year Increase in Mid-Market Home Sales

MIAMI, FL – In May 2025, Martin County witnessed a significant uptick in mid-market single-family home sales, demonstrating resilience in the face of market challenges, according to recent statistics from the MIAMI Association of Realtors and the Southeast Florida Multiple Listing Service.

Growth in Mid-Market Single-Family Home Sales

Sales of mid-market single-family homes priced between $600,000 and $1 million rose by 5% compared to the previous year. This upward trend highlights the area’s continued appeal, especially in the Stuart and Martin County regions, described by 2025 JTHS-MIAMI President Ginenne Boehm as “a small-town jewel near one of America’s most vibrant regions.”

Current Market Conditions for Condominiums

While the inventory of condominiums is on the rise—providing more options for buyers—there has not been a corresponding influx of sellers. In fact, the total number of new listings for existing condos dropped by 28.4% year-over-year in May 2025. The decreased interest in condo sales is linked to several factors, including financing challenges.

Price Trends in Martin County

• Condo Prices: Martin County’s median condo prices saw a decrease of 11.64%, falling from $299,900 to $265,000.
• Single-Family Home Prices: In contrast, the median sale price for single-family homes increased by 6.19% from $573,995 to $609,500.

Economic Indicators and Policy Impacts

South Florida’s home equity growth is outpacing national trends, with homes bought in Q3 2009 and sold by Q3 2024 showing a gain of $542,175 in Miami-Dade County, significantly higher than the national average of $310,232.

The Live Local Act, enacted in 2023 and updated in May 2024, is promoting the development of more affordable housing. Developers benefit from increased density allowances if they designate 40% of their units for affordable options, defined as housing costing 120% or less of the area’s median income.

Sales Data Overview

Overall, Martin County saw a 15.3% decline in total sales year-over-year, dropping from 321 to 272 sales. This decline is tied to external economic factors, including:

• Elevated Mortgage Rates: With rates hovering near 7%, many potential buyers are sidelined.
• Limited Financing Options for Condos: There’s a notable lack of financing available for many existing condominium buildings.

Breakdown of Sales

• Single-Family Home Sales: Fell by 8.7%, from 206 to 188 sales.
• Condo Sales: Decreased by 26.96%, from 115 to 84 sales.

MIAMI REALTORS® Chief Economist Gay Cororaton commented on the market dynamics, noting that while current sales conditions are weak, there is hope for enhancement in affordability as the Federal Reserve may implement rate cuts later this year.

Inventory and Market Balance

At the end of May 2025, total active listings in Martin County rose by 35.5%, showcasing a shifting landscape:

• Single-Family Home Inventory: Increased by 39.61%, from 722 to 1,008 active listings.
• Condo Inventory: Up by 30.12%, moving from 561 to 730 listings.

The market’s current balance is indicated by:

• A 6.4-month supply of single-family homes, suggesting a balanced market.
• A 9.6-month supply of condos, indicating a buyer’s market.

Economic Contributions of Real Estate

Real estate transactions significantly impact the local economy. A typical home sale in Florida generates about $129,000 in economic activity. Based on this model, Martin County’s 272 home sales in May 2025 contributed approximately $35 million to the local economy.

Dollar Volume Insights

The total dollar volume for real estate transactions in Martin County decreased 8.23% year-over-year, from $262 million to $240 million:

• Single-Family Homes: Dollar volume fell 7.66% to $198 million.
• Condos: Dollar volume decreased 9.97% to $38 million.

Distressed Sales and Market Health

Martin County’s distressed sales—those defined as short sales or REOs—remained low, constituting only 0.4% of residential sales in May 2025, compared to 0.6% in the previous year. This low level of distressed sales, particularly below the national average of 3%, illustrates a healthful local real estate landscape.

Future Market Outlook

With prevailing mortgage rates and inventory challenges, the Philadelphia Federal Reserve’s decisions in the coming months will be crucial for enhancing the market conditions. Currently, the average 30-year fixed-rate mortgage stands at 6.81%, a slight decrease from the previous year, which could present new opportunities for buyers and sellers alike.

For a complete overview of the latest Martin County statistical reports, please visit SF Market Intel.

By analyzing Martin County’s real estate trends, potential buyers and investors can make informed decisions in an evolving market landscape.