“The St. Lucie County market is red hot right now. Northerners are flocking to Florida for the winter months and continue to explore all the opportunities our area has to offer. Competition among buyers has been stiff, leading to a 37.5 percent drop to 10 median days on market,” said Karen Johnson, President of Broward, Palm Beaches & St. Lucie Realtors®.
Days on market is a measure of the length of the home selling process calculated for sales which closed during the month. Time to contract measures the number of days between the initial listing for a property and the signing of the contract which eventually led to the closing of the sale.
“Snowbirds have caused tons of excitement in Southeast Florida as we enter the holiday season. The trend of median sale price increases continued with a 28.8 percent jump to $335,000. We haven’t seen a decrease in median sale price since June of 2012. It’s also worth noting that the median percent of original list price received in October was 100 percent,” continues Johnson.
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.
“If you’re looking to buy or sell, contact a local Realtor® for their guidance. They are experts on the local markets they serve and can help you buy or sell your home at the right price,” continues Johnson.
Market Reports: Single Family (Opens as PDF.) | Townhouses/Condos
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