St Lucie County Single Family Homes August 2022 Market Report
The August 2022 St Lucie County Single Family Home market had weaker activity when compared to last year. While the historically low inventory is slowly improving (though still low), we are also facing rising interest rates and higher prices. I expect inventory to continue to increase which will exert downward pressure on prices and hopefully an increase in sales. Though, this will take some time. Closed sales were down by 22.4% for the month compared to last year (in July they were up by 18.0%). New sales under contract (new pending sales) decreased by21.6 % (they were down by 8.4% last month).
Prices were also up in August. The median sales price was up by 22.7% (was up by 26.0% in July). The average sales price was up by 27.5% (it was up by 23.8% in July).
The number of available home listings increased by 195 homes to 1695. This inventory is 124.4% greater than last year. The current supply of homes is 2.7 months (it was 1.2 months last year). The St Lucie County single-family home market remains an extreme sellers’ market. A balanced market is one with a 6 to 7 month supply of inventory.
View previous St. Lucie County market reports here.
Recent County Market Report Posts:
- St. Lucie County Townhouses and Condos 2024 3rd Quarter Report
- St. Lucie County Single Family Homes 2024 3rd Quarter Report
- Martin County Townhouses and Condos 2024 3rd Quarter Report
- Martin County Single Family Homes 2024 3rd Quarter Report
- St Lucie County Townhouses and Condos September 2024 Market Report
- St Lucie County Single Family Homes September 2024 Market Report
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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