St Lucie County Single Family Homes November 2016 Market Detail
St Lucie County Single Family Homes Market Detail for November 2016 showed improved sales activity from last year though at a reduced rate. Closed sales were up by 0% (in October they were down by 24.5%) and new sales under contract (new pending sales) increased by 3.3% (they were down by 8.9% last month).
Prices, however, continue their upward march at strong rates. The median and average sales prices up by 22.5% and 18.5% respectively from last November (For October these numbers were up 12.0% and 13.4%). 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 110 homes to 1,795 homes. This inventory is 9.3% higher than last year. The current supply of homes is at 4.1 months (3.6 months for November of 2015) This is 13.9% 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.
Click here to view or download the full report:
St Lucie County Single Family Homes November 2016 Market Detail
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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