3rd Quarter St. Lucie and Martin County Mainland Market Report

2018 3rd Quarter St Lucie County & Martin County

RECENTLY SOLD

SOLD $1,025,000

SOLD $620,000

5287 SW Anhinga Ave, Palm City

18501 Tranquility Base Lane

SOLD $519,000 709 SE Hidden River Drive

www.FLColdwellBanker.com

SOLD $559,000 2871 NE Pinecrest Lakes Blvd

SOLD $500,000

SOLD $389,000

1639 SW Dyer Point Road, Palm City

2001 SW Import Drive

SOLD $330,000

SOLD $286,000

SOLD $285,000

938 SW 33rd Street, Palm City

612 NE Muskrat Run

1060 SW Idol Avenue

SOLD $262,900 2623 Chestnut Lane

SOLD $260,000 159 NW Willow Grove Avenue

Homes are selling fast!

Call now to see how much your home is worth!

772-301-0600

STUART 2384 NW Federal Highway Stuart, FL 34994 772-301-0600 FORT PIERCE OFFICE 411 US-1 Fort Pierce, FL 34950 772-461-3250

PRSRT STD US POSTAGE PAID West Palm Bch, FL Permit #611

PORT ST LUCIE OFFICE 7202 US-1 Port St. Lucie, FL 34952 772-878-3200

ECRWSS *********ECRWSSEDDM********

www.FLColdwellBanker.com

POSTAL CUSTOMER

With 11 offices covering 135 miles of Florida’s East Coast, Coldwell Banker Paradise is the area’s largest full service real estate company.

2018 St Lucie County and Martin County 3rd Quarter Real Estate

MARKET REPORT

Price Point

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

Condos Sold

Current Listings

Month’s Supply

Average Price

Under

2018

2763

700

2.3

$187,212

306

88

2.6

$107,115

$250,000

2017

3162

615

1.8

$184,870

306

69

2.0

$95,710

Change

-12.6%

+13.8%

+30.3%

+1.0%

0.0%

+27.5%

+27.5%

+12%

$250,001 to

2018

1381

757

4.9

$300,804

6

2

3.0

$352,167

$500,000

2017

970

668

6.2

$315,573

3

4

12.0

$330,667

Change

+42.4%

+13.3%

-20.4%

-5.0%

+100.0%

-50.0%

-75.0%

+7.0%

$500,001 to

2018

73

80

9.9

$603,462

0

2

0

$1,000,000

2017

56

86

13.8

$678,603

1

2

18.0

Change

+30.4%

-7.0%

-28.6%

-11.0%

-100.0%

0.0%

0

Over

2018

11

13

10.6

$1,397,727

0

3

0

$1,000,000

2017

5

24

43.2

$1,132,000

0

3

0

Change

+120.0%

-45.8%

-75.4%

+23.0%

0.0%

0.0%

0

2018

4228

1550

3.3

$234,651

312

95

2.7

$111,827

2017

4193

1393

3.0

$222,830

310

78

2.3

$99,546

Change

+0.8%

+11.3%

+10.3%

+5.0%

+0.6%

+21.8%

+21.0%

+12%

Total

$580,000

$1,700,000

Healthy Market: Great News for Both Buyers and Sellers The current St. Lucie and Martin County real estate market can be best be described as Strong and Healthy. Inventory is tight, but growing, and price increases this year have been moderate and sustainable.

While there is only a 3 month supply of available inventory, the supply is better than it was at this time last year. New construction is filling the void created by the tight supply of resale homes, and this is moderating price increases. Anyone beginning a new home search should consult with their agent about the availability and price difference of buying a new home. While the new home will be more expensive upfront, the reduced maintenance in the near term and lower insurance and energy costs can help to make up for that.

Sellers still have lots of buyers to choose from and a correctly priced house should find a qualified buyer. The average price for homes has only increased 5% from a year ago. That trend should remain the same going into next year. Job and income growth are strong, but rising interest rates mean higher payments so buyers are not likely to stretch beyond a 4 - 7% increase in over the next year.

All of this is great news for both buyers and sellers. Steady growth is not overheated and that should give buyers peace of mind. If you are considering buying or selling, sit down with your real estate agent to find out the value of your current home. Call 772-301-0600 to contact your favorite real estate agent today.