September 2016 Monthly Market Detail St Lucie County Single Family Homes
September 2016 Monthly Market Detail St Lucie County Single Family Homes showed reduced sales activity from last September. Closed sales were down by 6.6% (in August they were up by 8.3%) and new sales under contract (new pending sales) decreased by 11.5% (they were down by 15.1% last month).
Prices, however, continue their upward march at strong rates. The median and average sales prices up by 10.0% and 10.6% respectively from last September (For August these numbers were 18.7% and 20.2%). While these are very good results for sellers, they make me a little nervous as rates of increase this high may result in lower affordability of homes and subsequently less sales in the future.
Active listings increased by 57 homes to 1,671 homes. This inventory is 11.0% higher than last year. The current supply of homes is at 3.7 months (3.3 months for September of 2015) This is 12.1% greater than last year. The St Lucie County single family home market remains in a very strong sellers market. A balanced market is one with a 6 to 7 month supply of inventory.
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September 2016 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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