“For the 9th consecutive month, St. Lucie County has seen a double digit increase in median sale price of single family homes. Both buyers and sellers are benefiting from this significant boost in our market indicators. Sellers are motivated by the steady equity increase being recuperated, and buyers gain the advantage of our reasonably priced homes compared to surrounding areas. St. Lucie County is poised for major growth and re-development.” ─ Kathy J. Slusser, Northern Vice President of the Realtors® Association of the Palm Beaches (RAPB).
The Palm Beach County market has accelerated, according to year-over-year statistics for May. For single family homes, median days on market dropped a whopping 25.0 percent (56 to 42 days), and closed sales bumped up 6.0 percent (1,640 to 1,739 transactions). Median sale price rose 4.8 percent from $281,900 to $295,000, falling just below the $300,000 mark we broke the previous month
“May’s inventory of single family homes in Martin County has dropped 35% from last year to an unprecedented 4.8 months. Although the median sale price remained virtually unchanged, the average sale price moved up 13% to $416,314 compared to last year. All great news to hear if you are a Seller, but a Buyer will have fewer opportunities to find those “deals”.