July 2016 Monthly Market Detail St Lucie County Townhouses and Condos
The July 2016 Monthly Market Detail St Lucie County Townhouses and Condos had slower closed and pending activity when compared to last year. Closed sales were down 22.6% from last year (was up 5.7% in June) while new pending sales decreased by 2.6% (was down by 14.8% in June).
Prices also took a hit for July with the median sales price decreasing by 18.8% (was up by 23.6 in June) while the average sales price decreased by 1.7% (decreased 1.4% in June). I don’t expect prices to decrease very much but, the previous rate of increases were unsustainable.
The inventory of available townhouses and condos decreased by 57 units from last month to 509 units, which is only 7.8% less than July 2015. The current supply of inventory dropped to 5.1 months, which is less than the 5.4 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.
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July 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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