August 2013 Monthly Market Detail St Lucie County Single Family Homes
The August 2013 Monthly Market Detail St Lucie County Single Family Homes as reported by Florida Realtors continues the positive trend that has been apparent all this year, though at a more moderate rate for August. Closed sales were up by 3.5% (in July they were up by 4.3%) and new sales under contract (new pending sales) increased by 17.8% (they were up by 55.6% last month).
Both median and average sales prices were up (year to year) by 12.7% and 9.2% respectively.
The inventory of active listings declined in August to 1841 homes, down by 31.3% from last year. Current supply of inventory is only 4.3 months (a 31.3% decrease from last year) and unchanged from July. For August 2013 this remains a strong sellers market in the St Lucie County area. Lower inventory typically results in lower sales volume as there just isn’t enough homes available for sale. This will also result in strong upward pressure on prices and at some point renewed activity in new construction. If prices rise to a level where currently underwater home owners can see a profit or even a break even price, I expect to see continued increases in inventory.
Please click on the links below to read the full Saint Lucie County single family market detail:
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August 2013 Monthly Market Detail St Lucie County Single Family Homes
To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.
Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.
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