ST. LUCIE: 2020 TRENDS CONTINUE AS WE INCH CLOSER TO 2021
Newly released market reports from Florida Realtors® detailing recent real estate activity in St. Lucie County. The reports compare year-over-year data for November. Here are statistics on single family homes.
“As we inch closer to 2021, we continue to see more progress and increases across the St. Lucie County housing market. Throughout the year, we’ve seen a trend of double digit increases in median sale price and closed sales. This trend continued in November as the median sale price increased 7.5 percent to $259,575,” said Jarrod Lowe, 2020 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.
“Closed sales also increased heavily by 23.7 percent to 548. Homes in St. Lucie County are selling at an astonishing rapid rate and quickly as the median time to contract decreased 53.1% to 15 days. The market is hot and it’s a great time to invest in real estate. Take full advantage of the market this holiday season by contacting a local Realtor® for guidance on buying and selling in the current market conditions,” continues Lowe.
Time to Contract measures the number of days between the initial listing of a property and the signing of the contract which eventually led to the closing of the sale. Meanwhile, months’ supply of inventory is an estimate of the number of months it will take to deplete the current inventory given recent sales rates.