“The median sale price keeps inching higher and higher in St. Lucie County. In February, we saw it climb 27.3 percent year-over-year to $350,000. There’s no doubt right now that the market is hot. It seems like everyone wants to invest and make St. Lucie County their new home. The appeal of South Florida living shows, especially when we compare asking versus offer prices. The median percent of original list price received for February reached 100 percent. Meanwhile, the average days on market dropped to 11 days,” said Carlos A. Melendez, President of Broward, Palm Beaches & St. Lucie Realtors®.
The median percent of original list price received is useful as an indicator of market recovery, since it typically rises as buyers realize that the market may be moving away from them, and they need to match the selling price (or better it) in order to get a contract on the house. Meanwhile, days on market 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.
“Prospective home buyers are scouring South Florida for listings, and local Realtors® are here to help. The home buying and selling process can be overwhelming, especially in a fast-moving market like ours. Thankfully, we have local Realtors® who can expertly guide you through your housing decision. Get the answers you need from a professional and take advantage of this hot market. Contact a local Realtor® today,” continues Melendez.
February Market Reports: Single Family (Opens as PDF.) | Townhouses/Condos (Opens as PDF.)
Broward, Palm Beaches & St. Lucie Realtors® is the 3rd largest local Realtor® association in the nation, representing over 40,000 Realtors®, 41,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit Rworld.com (Opens in new tab.) or contact Communications@rworld.com (Opens in new tab.).
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