Report: Home prices in Martin Co. surpass Palm Beach Co.
The cost to buy a home in parts of the Treasure Coast has typically been less than in Palm Beach County over the years.
However, Florida's booming real estate market since the pandemic has flipped the script when it comes to norms.
Martin County's median home sale prices have surpassed Palm Beach County, according to the latest report from the Realtors Association of Broward, Palm Beach and St. Lucie counties.
Last month the median sale price for a single-family home in Martin County was $555,000 while it was $541,000 in Palm Beach County.
Both sale prices for those counties are higher than they were in February as the cost of housing continues to skyrocket in Florida.
"This is the highest price we've seen this year as prospective buyers from all over the world continue to demand housing in Martin County. Homes are selling at an astonishing rate, sitting roughly 9 days on the market before going under contract," said Carlos A. Melendez, president of Broward, Palm Beaches & St. Lucie Realtors.
The report said home sellers in both counties are getting 100% of the original listing price.
St. Lucie County's median home sale price was at $370,000 in March, up 32% compared to March 2021.
Palm Beach, Martin and St. Lucie counties have all seen their highest sale price this year as increased demand and decreased inventory continues to drive up sale prices.
Scripps Only Content 2022