MEDIAN PRICE UP, PENDING SALES DOWN IN ST. LUCIE COUNTY
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 July. Here are statistics on single family homes.
“Everyone has been eagerly awaiting the release of July market reports, especially home buyers. They want to know if there’s a chance of lower pricing or more listings to choose from in St. Lucie County. Now that the numbers are in, we see once again that median price is up year-over-year, and listing inventory is down,” said Karen Johnson, 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 sale prices for small numbers of homes that may not be characteristic of the market area.
“Even so, there is a silver lining for buyers. The number of homes going under contract has dropped for the second consecutive month, a market indicator that Realtors® are keeping an eye on. If you’re in the market for a home, seek the expertise and guidance of a local Realtor® now. This will give you ample time to feel prepared and confident about your future investment,” continues Johnson.
New pending sales are the number of listed properties that went under contract during the month. Because of the typical length of time it takes for a sale to close, economists consider pending sales to be a decent indicator of potential future closed sales.