March 2015 Monthly Market Detail St Lucie County Single Family Homes
March 2015 Monthly Market Detail St Lucie County Single Family Homes as reported by Florida Realtors is showing some continued softening of the market, though prices continue to rise quite strongly. Closed sales were up by 3.8% (in February they were down by 9.5%) and new sales under contract (new pending sales) decreased by 15% (they were down by 0.5% last month).
Both median and average sales prices continue their rise by 15.4% and 20.3% respectively from last March (For February these numbers were 15.2% and 18.9%). These price increases, while good news for sellers, are having a negative effect on the volume of sales.
The inventory of active listings increased in March (from last month) by 94 homes to 1,733, and this is lower than last year’s inventory by 22.4%. The current supply of inventory is only 3.6 months (a 30.3% decrease from last year). The Saint Lucie County single family home market remains in a very strong sellers market. We are seeing a reduction in volume of sales because there isn’t enough inventory available on the market. This is also a factor of why prices are rising as rapidly as they are. As prices continue to rise, I expect to see an increase of St Lucie County single family homes for sale coming on the market.
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March 2015 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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