TCPalm highlights Jonathan Lickstein’s insights on Treasure Coast’s rising home listings and prices
TC Palm.
February brought notable increases across the Treasure Coast real estate market, according to recent Realtor® data, with rising home listings and median prices in Martin, St. Lucie, and Indian River counties. Alongside higher prices, the market also experienced an uptick in sales and home availability, pointing toward evolving market dynamics.
"It is hard to qualify this as a buyer's market when interest rates and the costs of acquiring a home are so high," said Jonathan Lickstein, president of Broward, Palm Beaches & St. Lucie Realtors ®. "There’s definitely more negotiability on the buyer's side. At the same time, it’s still an expensive venture to purchase a home in today’s market."
Despite climbing mortgage rates—with the 30-year fixed rate nearing 7%—increased home inventory, now surpassing pre-pandemic levels, continues to lean the market in favor of buyers, giving them enhanced leverage in negotiations.
"You’re seeing more inventory come on, which leans toward a buyer's market," Lickstein added. "Sellers are going to have to be more realistic."