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St Lucie County Townhouses and Condos November 2016 Market Detail
St Lucie County Townhouses and Condos November 2016 Market DetailThe St Lucie County Townhouses and Condos Market Detail for November 2016 had weaker sales activity as compared to last November.  Closed sales were down by 12.8% from last year (was down 16.2% in October) while new pending sales decreased by 7.8% (was down by 33.3% in October).
Price changes were mixed for November with the median price up by 0.8% (was up by 11.9% in October) while the average sales price decreased by 11% (was up by 13.4% in October).  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 23 units from last month to 553 units, which is 4.3% greater than November 2015. The current supply of units is 5.7 months, which is 11.8% higher than the 5.1 months of inventory last year.  The St Lucie County townhouses and condos continues to be in a sellers market though it is getting closed 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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