August 2016 Monthly Market Detail St Lucie County Single Family Homes
August 2016 Monthly Market Detail St Lucie County Single Family Homes showed some improvement in closed sales from last month and last year while new pending sales are still down from last year. Closed sales were up by 8.3% (in July they were down by 9.0%) and new sales under contract (new pending sales) decreased by 15.1% (they were down by 10.0% last month).
Though, prices continue their upward march at very strong rates. The median and average sales prices up by 18.7% and 20.2% respectively from last August (For July these numbers were 13.0% and 15.2%). While these are very good results for sellers, they make me a little nervous as rates of increase this high may result in lower affordability of homes and subsequently less sales in the future.
Active listings increased by 137 homes to 1,614 homes. This inventory is 9.6% higher than last year. The current supply of homes is at 3.6 months (3.3 months for August of 2015). The St Lucie County single family home market remains in a very strong sellers market. A balanced market is one with a 6 to 7 month supply of inventory.
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August 2016 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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