| Feb 22, 2017
WEST PALM BEACH, FLORIDA (February 22, 2017) – The January real estate market report for St. Lucie County shows a strong start to the new year with year-over-year percentage increases in dollar volume, closed sales, cash sales and median sales price of single family homes.
“Inventory is increasing ever so slightly to 1,844 homes, however, the pace of sales is keeping our monthly supply low at 4.1 months,” said John Slivon, President of the Realtors® Association of the Palm Beaches (RAPB). “The median sales price continues to rise, but for the first time in awhile appreciation is in the single digits up 8.9% to $187,000.”
“The low supply and continued appreciation is further evidence that we are firmly in a ‘seller’s’ market,” adds Slivon. “With nearly half of the homes in the county currently listed for sale below $250,000, opportunities are still available for those seeking affordable housing in St. Lucie County.”
The highest year-over-year increase was 25.6% in dollar volume for single family homes at $69.4 million. Cash sales jumped 16.5% and the median sales price increased by 8.9% to $187,000.
Source: Florida Realtors® Monthly Market Detail – January 2017
The Realtors® Association of the Palm Beaches (RAPB) is the 6th largest local association in the country representing over 15,000 REALTOR® members involved in all aspects of residential and commercial real estate throughout Palm Beach and St. Lucie Counties. RAPB members are “The Voices for Local Real Estate,” providing consumers with real insight on the homeownership process with data accuracy and market expertise. Many of their members also engage in one or more divisions offered through RAPB, including the REALTORS® of St. Lucie County (RSLC), the Young Professionals Network, and the award-winning Global Business & REALTORS® Commercial Alliances. Looking to buy or sell property? Think local! Find your REALTOR® or property at www.SouthFloridaPropertyMatch.com.