Martin County Home Prices Rise as Inventory Falls

In Late-Q3, Martin County’s median sale price reached $600K, ↑from $570K yearly, reinforcing its premium market even as overall activity softened and inventory tightened.
Martin County sales fell to 168 in Late-Q3 from 175 yearly, while active listings dropped to 682 from 833, signaling tighter choices for buyers.
With 3.6 mo of inventory in Late-Q3, down from 5.1 yearly, Martin County leaned seller-friendly, and median time to contract shortened to 39 days.
During Late-Q3, 30-yr and 15-yr mortgage rates were near 7% and mid-6%, a backdrop an expert said buyers and sellers could not ignore.
The same expert noted inventory typically increases as winter snowbird season approaches, when more homeowners tend to list properties across Martin County.