St Lucie County Townhouses and Condos December 2016 Market Detail
The St Lucie County Townhouses and Condos Market Detail for December 2016 continued with weaker sales activity as compared to last December. Closed sales were down by 21.0% from last year (was down 12.8% in November) while new pending sales decreased by 32.6% (was down by 7.8% in November).
Values however bucked the trend and increased for December with the median price up by 9.9% (was up by 0.8% in November) while the average sales price increased by 9.2% (was down by 11% in November). I’ve been expecting prices to moderate for some time as the inventory continues to increase and sales volume does not keep up.
The inventory of available townhouses and condos decreased by 6 units from last month to 547 units, which is 8.1% greater than December 2015. The current supply of units is 5.7 months, which is 16.3% higher than the 4.9 months of inventory last year. The St Lucie County townhouses and condos continues to be in a sellers market though it is getting very close to being balanced. 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 December 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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