MIAMI — Martin County total dollar volume increased year-over-year in February 2025, according to statistics released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS).
Total dollar volume rose 16.06% year-over-year, from $187 million to $217 million.
“Martin County and Stuart real estate offers an incredible small-town atmosphere with proximity to one of the fastest growing regions in the U.S.,” 2025 JTHS-MIAMI President Ginenne Boehm said.
South Florida real estate is high cash, high equity and high demand:
- West Palm Beach ranked No. 1 in the U.S. for Most All-Cash Sales in 2024, posting a share of 49.6% for all-cash purchases. Fort Lauderdale (38.9%) and Miami (38.1%) ranked No. 4 and No. 5, respectively, according to
- Miami-Dade County ranks No. 5 in the U.S. for most equity-rich homes with a share of 64.4%, via new data from ATTOM. Equity rich is defined as having a loan-to-value (LTV) ratio of 50% or lower.
- Realtor.com ranked Miami-Fort Lauderdale-Pompano Beach, FL as the No. 2 Top Housing Market in the U.S. for 2025, forecasting a 24% year-over-year increase in sales and a 9% increase in median sale prices for 2025.
Martin County Price Appreciation
Existing condo median prices decreased 1.45% year-over-year in February 2025, from $275,000 to $271,000.
Martin County single-family home median sale prices decreased 0.01% year-over-year in February 2025, from $650,000 to $649,950.
South Florida Real Estate Home Equity & Appreciation is Nearly 2X the National Figure
South Florida’s home equity gains are nearly two times the national figure. Home equity gains on a single-family home purchased in Q3 2009 and sold in Q3 2024 are: Miami-Dade County at $542,175 versus the U.S. average at $310,232, according to new MIAMI REALTORS® Research.
Florida’s Live Local Act, which was passed in 2023 and amended in May 2024, is encouraging developers to build more affordable housing. The Live Local Act gives developers the highest density allowed in a local area if they allocate 40% of its units for affordable housing. The state law defines an affordable unit as being at or below 120% of an area’s median income.
Despite the increase in prices, Miami remains a value in comparison to other global cities. In Miami, $1M nets you at least 60 square meters of prime property, according to the 2024 Knight Frank The Wealth Report. This is much higher than other global cities: Sydney, Australia ($1M only purchases 43 square meters), Shanghai (42), Paris (40), Los Angeles (38), New York (34), Geneva (34), London (33), Singapore (32), Hong Kong (22) and Monaco (16).
Martin County Total Sales
Martin County total sales decreased 12.1% year-over-year in February 2025, from 248 to 218. Macroeconomic reasons out of South Florida’s control such as elevated mortgage rates, a slumping stock market, lack of condo financing and lack of inventory at key price points are reasons for the decline.
Martin County single-family home sales decreased 5.5% year-over-year (from 163 to 154).
Martin County total existing condo sales decreased 24.7% year-over-year in February 2025, from 85 to 64.
The lack of Federal Housing Administration loans for a large number of existing South Florida condominium buildings is preventing further market strengthening. Of the 2,397 condominium buildings in Miami-Dade, Broward and Palm Beach counties, only 21 are approved for FHA loans, according to statistics from the U.S. Department of Housing and Urban Development.
Just 0.9% of South Florida condo buildings are approved for FHA loans. Florida is the only state in the U.S. that requires a client to put down 25% for a limited review if the condo building doesn’t have enough in reserves. The requirement for every other state is 10%.
As a leader in advocacy, MIAMI REALTORS® is working with the Legislature to support our market. MIAMI brought together lawmakers, top experts and more for a sold-out Condo Summit on Feb. 14 that empowered REALTORS® with the latest knowledge and tools.
Mortgage Rates Remain Volatile as Fed Keeps Rates Steady
The Fed will likely keep rates steady until at least the summer.
“The million-dollar market segment continues to be the strongest segment,” MIAMI REALTORS® Chief Economist Gay Cororaton said. “However, with mortgage rates now edging lower and likely to continue to decline to the low 6% by the end of the year, we could see more transactions activity across price segments. More inventory of homes for sale is also giving buyers more negotiating power.”
According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.65% as of March 13. That’s up from 6.63% one week ago but down from 6.74% one year ago.
Martin County Active Listings Below Pre-Pandemic
Total active listings at the end of February 2025 increased 44.9% year-over-year, from 1,225 to 1,775, but not enough to make up for the lack of inventory.
Inventory of single-family homes increased 43.1% year-over-year in February 2025 from 677 active listings last year to 969 last month.
Condominium inventory increased 47.1% year-over-year in February 2025, from 548 to 806 listings during the same period in 2024, but the total is still below pre-pandemic.
Months’ supply of inventory for single-family homes is 5.9 months, which indicates a seller’s market. Inventory for existing condominiums is 10.1 months, which indicates a buyer’s market. A balanced market between buyers and sellers offers between six- and nine-months supply.
Nationally, total housing inventory registered at the end of February was 1.24 million units, up 5.1% from January and 17% from one year ago (1.06 million). Unsold inventory sits at a 3.5-month supply at the current sales pace, identical to January and up from 3.0 months in February 2024.
$28.1 Million in Local Economic Impact
Every time a home is sold it impacts the economy: income generated from real estate industries (commissions, fees and moving expenses), expenditures related to home purchase (furniture and remodeling expenses), multiplier of housing related expenditures (income earned as a result of a home sale is re-circulated into the economy) and new construction (additional home sales induce added home production).
The total economic impact of a typical Florida home sale is $129,000, according to NAR. Martin County sold 218 homes in February 2025 for a local economic impact of $28.1 million.
Martin County total dollar volume totaled $217 million in February 2025, up 16.06% vs. February 2024. Condo dollar volume decreased 19.34% year-over-year to $22 million. Single-family home dollar volume increased 21.77% year-over-year to $191 million.
Martin County Distressed Sales Remain Low, Reflecting Healthy Market
Zero of all closed residential sales in MArtin County were distressed last month, including REO (bank-owned properties) and short sales, versus 0.4% in February 2024.
Short sales and REOs accounted for 0% and 0%, respectively, of total Martin County sales in February 2025.
Martin County’s percentage of distressed sales are less than the national figure. Nationally, distressed sales represented 3% of sales in February 2025, virtually unchanged from December and the previous year.
National, State Statistics
In Florida, closed sales of single-family homes statewide totaled 19,040 in February 2025, down 7% year-over-year, while existing condo-townhouse sales totaled 6,503, down 13%.
Nationally, total existing-home sales completed transactions that include single-family homes, townhomes, condominiums and co-ops – progressed 4.2% from January to a seasonally adjusted annual rate of 4.26 million in February. Year-over-year, sales slid 1.2% (down from 4.31 million in February 2024).
The statewide median sales price for single-family existing homes was $415,000, even from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $315,000, down 3.1% vs. last year. The median is the midpoint; half the homes sold for more, half for less.
Nationally, the median existing-home price for all housing types in February was $398,400, up 3.8% from one year ago ($383,800). All four U.S. regions registered price increases.
Martin County Real Estate Attracting Near List Price
The median percent of original list price received for single-family homes was 94.9% in February 2025. The median percent of original list price received for existing condominiums was 91.7%.
The median number of days between listing and contract dates for Palm Beach County single-family home sales was 40 days, even with last year. The median time to sale for single-family homes was 79 days, up from 81 days last year.
The median number of days between the listing date and contract date for condos was 77 days, up from 41 days. The median number of days to sale for condos was 105 days, up from 79 days.
Martin County Cash Sales More than National Figure
Cash sales represented 53.2% of Martin County closed sales in February 2025, compared to 58.1% in February 2024. About 32% of U.S. home sales are made in cash, according to the latest NAR statistics.
Cash buyers are not deterred by rising rates. The high percentage of cash buyers reflects South Florida’s top position as the preeminent American real estate market for foreign buyers, who tend to purchase with all cash as well as some moving from more expensive U.S. markets who can buy more with their profits from real estate sales.
Cash sales accounted for 56.3% of all Martin County existing condo sales and 51.9% of single-family transactions.
To access February 2025 Martin County Statistical Reports, visit http://www.SFMarketIntel.com
Note: Statistics in this news release may vary depending on reporting dates. MIAMI reports exact statistics directly from its MLS system.
About the MIAMI Association of Realtors®
The MIAMI Association of Realtors (MIAMI) was chartered by the National Association of Realtors in 1920 and is celebrating 105 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of six organizations: MIAMI RESIDENTIAL, MIAMI COMMERCIAL; BROWARD-MIAMI, a division of MIAMI Realtors; JTHS-MIAMI, a division of MIAMI Realtors in the Jupiter-Tequesta-Hobe Sound area; MIAMI YPN, our Young Professionals Network Council; and the award-winning MIAMI Global Council. MIAMI REALTORS represents 60,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local Realtor association in the U.S. and has official partnerships with 281 international organizations worldwide. MIAMI’s official website is www.MiamiRealtors.com
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