St Lucie County Townhouses and Condos January 2017 Market Detail
The St Lucie County Townhouses and Condos Market Detail for January 2017 began the new year with weaker sales activity as compared to last January. Closed sales were down by 12.3% from last year (was down 21.0% in December) while new pending sales increased by 2.0% (was down by 32.6% in December).
Values were mixed for January with the median price up by 11.1% (was up by 9.9% in December) while the average sales price decreased by 1.4% (was up by 9.2% in December). 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 increased by 37 units from last month to 584 units, which is 2.2% less than January 2016. The current supply is 6.1 months, which is 5.2% higher than the 5.8 months of inventory last year. The St Lucie County townhouses and condos has moved into a balanced market for the first time in a few years. 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 January 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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