February 2016 Monthly Market Detail St Lucie County Townhouses and Condos
The February 2016 Monthly Market Detail St Lucie County Townhouses and Condos had a difficult second month of 2016 with reduced sales volume as well as property prices when compared to last year. Closed sales were down 22.3% from last year (was down 4.9% in January) while new sales under contract (new pending sales) decreased by 24.1% (was down by 33.3% in January).
The median sales price decreased by 10.4% (up by 3.2% in January) while the average sales price was down by 7.2% (increased 10.0% in January). Not good news for sellers of townhouses and condos in St Lucie County.
The inventory of available townhouses and condos increased by 124 units from last month to 667 units, which is 2.5% greater than February 2015. The current supply of inventory increased to 6.6 months as compared to last month’s 5.9 months, which is still 4.8% more than last year. The St Lucie County townhouses and condos market is now back into a buyers market for at least this month. 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:
February 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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