May 2013 Monthly Market Detail St Lucie County Single Family Homes
Continuing the positive trend for the May 2013 Monthly Market Detail St Lucie County Single Family Homes as reported by Florida Realtors. Year to year closed sales were up by 6.7% and new sales under contract (new pending sales) increased by 59%!!
Both median and average sales prices were up (May 2012 to May 2013) by 21.4% and 12.1% respectively.
One item of concern is the active inventory which continues to decrease significantly (47.5%). Current supply of inventory is only 3.9 months (a 57% decrease from last year). For May 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.
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Click here to view or download the full report:
May 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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