St Lucie County Townhouses and Condos May 2017 Market Detail
The St Lucie County Townhouses and Condos Market Detail for May 2017 showed weaker sales activity when compared to last May. Closed sales were down by 7.1% from last year (were down by 11.2% in April) while new pending sales decreased by 0.8% (was down by 10.0% in April).
Values, however, continue to rise at surprising rates with the median price up by 24.8% (was up by 35.0% in April) while the average sales price increased by 23.9% (was up by 19.6% in April). I’ve been expecting prices to moderate for some time so these increases continue to be quite unexpected.
The inventory of available townhouses and condos decreased by 42 unit from last month to 526 units, which is 11.4% less than May 2016. The current supply is 5.6 months, which is 5.1% lower than the 5.9 months of inventory last year. The St Lucie County townhouses and condos market has slipped back into a sellers’ market. Typically a 6 month inventory is considered a balanced market showing no advantage to either buyers or sellers.
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St Lucie County Townhouses and Condos May 2017 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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