March 2013 Monthly Market Detail St. Lucie County Single Family Homes
Some very positive results reported by Florida Realtors for the March 2013 Monthly Market Detail St. Lucie County Single Family Homes. Year to year closed sales were up by 11.8% and new sales under contract (new pending sales) increased by over 69%!!
Both median and average sales prices were up (march 2012 to March 2013) by 18% and 15% respectively.
One item of concern is the active inventory which has decreased by almost half (47%). Current supply of inventory is only 4.2 months (a 56% decrease from last year). For March 2013 it was a strong sellers market in the St. Lucie County area. The reduced inventory will eventually result 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 will expect a gradual increase in inventory.
Here’s the summary chart from the Florida Realtors report:
Click here to view or download the full report:
March 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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