St. Lucie Real Estate Continues it’s Phenomenal Run
CENTURY 21 All Professional

The Realtors® of the Palm Beaches and Greater Fort Lauderdale (RAPB + GFLR) released the August 2018 Real Estate Reports. Real Estate Sales in St. Lucie County continue to have a phenomenal run. Closed sales are up over 14 percent year-over-year—even with median sales prices of single-family homes up 9.8 percent. The median sales price is now $225,000. Inventory of single-family homes is up slightly—2.1 percent—from a year ago

From a RAPB + GFLR press release:

The market in St. Lucie County is firing on all cylinders,” said John Slivon, Past President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.Typically, August and September are sluggish months for our real estate market, but this past August did not show any signs of slowing down.”

Condos and Townhomes in St. Lucie realized even more impressive gains in closed sales: up 32.7 percent year-to-year. However, the median sales price fell 11 percent to $169,900. Inventory of condos and townhomes are down from a year ago with 19 percent fewer listings than in August 2017.

Martin County Real Estate is Not Faring as Well

Closed sales in Martin County were down 15.8 percent from August 2017. The median sales price of single-family homes is down slightly, as well.

From a RAPB + GFLR press release:

Higher pricing and lack of inventory is beginning to take its toll on our real estate market,” said Slivon, “Sales of single family homes dropped for the 5th consecutive month… We appear to be caught in a loop, where folks who may want to buy are either not willing to pay the higher price or unable to find a ‘perfect’ home.  Consequently, listing a home to sell is less appealing to prospects, since there is not an attractive alternative to buy.  Additional inventory added by builders may be the best hope to break us out of this cycle.”

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