Low Inventory, High Median Price Shows Consumer Confidence
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.
“The median sale price continues to rise in St. Lucie County! The median price increased 2.6 percent to $235,000. However, the months’ supply of inventory decreased 20.8 percent year-over-year to 3.8 months. This is the sixth consecutive month where we’ve seen a double digit decrease in inventory. Low inventory and a high median sale price shows that St. Lucie consumers are confident with where the market is at,” said Jarrod Lowe, President of Broward, Palm Beaches & St. Lucie Realtors®.
Median sale price is our preferred summary statistic for price activity because, unlike average sale price, median sale price is not sensitive to high sales prices for small numbers of homes that may not be characteristic of the market area.
“Meanwhile, it will be interesting to see what role COVID-19 plays in the current state of our market. We’ll keep a close eye on the market over the next few months, and consumers should contact a local Realtor® with any questions they might have,” continues Lowe.
Market Reports: St. Lucie Single Family | St. Lucie Townhouses/Condos
Broward, Palm Beaches & St. Lucie Realtors® is the 3rd largest local Realtor® association in the country, representing 33,000 Realtors®, 35,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit Rworld.com or contact Communications@rworld.com.