MARTIN COUNTY, Fla. — WPTV has spoken to many residents across our area over the last few years about the struggles of finding affordable housing.
But local real estate agents on the Treasure Coast told WPTV reporter Tyler Hatfield that 2025 is looking to be a buyer's market with potential buyers calling the shots.
WATCH BELOW: 2025 could be buyer's market for the Treasure Coast
Julia Gallo, a Palm City resident, told WPTV that in her neighborhood there are many listings in Martin County — some that have been on the market for six months.
"I think the buyer will have more leverage if a house has been sitting for longer," Gallo said.
Gallo bought her home in Martin County six years ago. She said if she in the market to buy a home, now would be a good time.
Kelley Decowski, a real estate agent on the Treasure Coast agrees.
"If you go into pretty much any neighborhood across the Treasure Coast, you're going to find multiple properties for sale," Decowski said.
Decowski believes the buyer's market is due to a large number of listings available.
"If there are 25 homes for sale and one buyer, that means the demand's going to be low, and the buyer is really going to be able to call the shots and figure out which of those 25 homes is going to give them the best deal," Decowski said.
There are 6,232 homes listed on the Treasure Coast as of January.
In Martin, St. Lucie and Indian River counties, there's a five-month inventory of single-family homes.
But for available townhomes and condos, Indian River County has up to 11 months of inventory with St. Lucie County closer to 10 months of inventory and Martin County close to eight months.
Decowski said when there is over six months of inventory, the market favors the buyer. In simple terms, buyers have choices, even if prices go up.
"They get to decide what their offer is going to be," Decowski said. "They have a lot of control over the terms and the price."
Decowski said first-time home buyers have the biggest advantage in the current market.
"They can do a townhouse. They can do a condo. They can do a single-family home," Decowski said. "And in many cases, they can get the buy the sellers to help pay for their closing costs or pay for a rate buy down."
Matt Sczesny is determined every day to help you find solutions in Florida's coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
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