Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in St. Lucie County. The reports compare year-over-year data for February. Here are statistics on single family homes.
“In the recently released St. Lucie County Market Reports for February, we saw a 7.8 percent decline in closed sales. Despite a decline in closed sales, we saw a healthy increase in median sale price year-over-year to $229,000,” said Jeffrey Levine, President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
In addition to the 7.8 percent decrease in closed sales, there was also a 0.5 percent decrease in median original list price received to 95.6 percent. Median original list price received is useful as an indicator of market recovery. It typically rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) to get a contract on the house.
“Also, the months’ supply of inventory and active listings continue to rise from where they were last year. There was a 22.8 percent increase in active listings year-over-year. We are currently sitting at 4.8 months’ supply of inventory, which is below the benchmark [5.5 months] for a balanced market. This is an opportune time for sellers to take advantage of the current market conditions. Contact a local Realtor® for advice on how to list your home and price accordingly,” continues Levine.
The months' supply of inventory for February 2019 was 4.8 which is a 26.3 percent increase compared to February 2018’s 3.8 months’ supply of inventory. Similarly, there was a 22.8 percent increase in active listings to 2,171.
Realtors® of the Palm Beaches and Greater Fort Lauderdale is the 3rd largest local real estate association in the country. As one unified voice, RAPB + GFLR represents 30,000 Realtors®, 33,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, contact firstname.lastname@example.org.