August 2016 Monthly Market Detail St Lucie County Townhouses and Condos
The August 2016 Monthly Market Detail St Lucie County Townhouses and Condos picked up a little from last month and remains active. Closed sales were down 3.8% from last year (was down 22.6% in July) while new pending sales decreased by 2.9% (was down by 2.6% in July).
Prices on the other hand went back to increasing after last month with the median price up by 23.0% (was down by 18.8 in July) while the average sales price increased by 10.8% (decreased 1.7% in July). These increases were unexpected as I don’t expect prices to rise quite this fast year to year in the future. Though, I also don’t expect them to decline anytime soon either.
The inventory of available townhouses and condos increased by 17 units from last month to 526 units, which is only 1.7% less than August 2015. The current supply of inventory is 5.3 months, which is just a little more than the 5.2 months of inventory last year. The St Lucie County townhouses and condos continues to be in a sellers market. Typically a 6 month inventory is considered a balanced market showing no advantage to either buyers or sellers.
Click here to view or download the full report:
August 2016 Monthly Market Detail St Lucie County Townhouses and Condos
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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