St Lucie County Townhouses and Condos October 2016 Market Detail
The St Lucie County Townhouses and Condos Market Detail for October 2016 resulted in slightly weaker sales activity as compared to last October. Closed sales were down by 16.2% from last year (was unchanged in September) while new pending sales decreased by 33.3% (was down by 5.1% in September).
Prices continue to increase quite strongly with the median price up by 11.9% (was up by 6.5% in September) while the average sales price increased by 13.4% (was up by 5.9% in September). I don’t expect these price increases to be quite so strong in future months if sales activity continues to slow.
The inventory of available townhouses and condos increased by 23 units from last month to 530 units, which is 1.5% greater than October 2015. The current supply of units is 5.4 months, which is 5.9% higher than the 5.1 months of inventory last year. The St Lucie County townhouses and condos continues to be in 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 October 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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