2017 Sebastian 3rd Quarter Real Estate Market Report

2017 Sebastian 3rd Quarter Real Estate

MARKET REPORT

Coastal Dreams Offered at $1,375,000 13155 N. Indian River Dr. (176134)

Susan Maitner

Global Luxury Certified Agent 772-913-0222 smaitner@bellsouth.net

Sebastian 3rd Quarter Comparison 2017 to 2016

Short Inventory Leading to Maturing of Sebastian Housing Market The Sebastian housing market is undergoing a remain low in the near future, with only gradual transition from an affordable place to buy to a higher increases to come down the road. And although the price point in home sales reports Coldwell Banker economy is enjoying robust growth, wages have not Paradise in their recently released 3rd Quarter Market kept pace. A factor that is likely contributing to the Report for 2017. Formally a housing market where price stabilization we are seeing across markets. That, buyers could purchase more affordable units under in combination with buyer resistance and financing $250K, much of the inventory at that are all holding prices stable. price point for single family homes has disappeared. With one months supply Sales $250K+ Up With eleven offices covering 135 and an -32% decline in sales, single family miles of Florida’s East Coast, Coldwell homes for sale under $250k are few and Banker Paradise recently celebrated far between. Strong sales at the mid-to64 years of continued service to its higher level of the market dominated the clients and communities. Proud of 3rd Quarter. New construction is likely to its history, grounded in tradition, boost both inventory and average price and growing thanks to its values, in coming months, with most new homes Coldwell Banker Paradise is the coming onto the market at over $250k. area’s only full service real estate company with six divisions including: National trends continue to buoy local markets as well. residential sales and rentals, commercial sales and With the US job market on a historic streak of over 80 leases, property management, and concierge services. months consecutive job growth, it is a good time to To speak with Susan Maitner, Global Luxury Certified be buying or selling homes. As has been the case in Agent, call 772-913-0222 today, or email smaitner@ recent years, interest rates are likely to bellsouth.net.

61%

SINGLE FAMILY HOMES Price Point Under $100,000

$100,001 to $250,000

$250,001 to $500,000

Over $500,000

Total

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

2017

23

6

2.3

$74,016

2016

34

2

0.5

$79,900

Change

-32.4%

+200.0%

+343.5%

-7.0%

2017

484

85

1.6

$191,455

2016

481

68

1.3

$187,418

Change

+0.6%

+25.0%

+24.2%

+2.0%

2017

124

57

4.1

$310,667

2016

77

51

6.0

$348,550

Change

+61.0%

+11.8%

-30.6%

-11.0%

2017

9

24

24.0

$913,444

2016

6

21

31.5

$940,443

Change

+61.0%

+14.3%

-23.8%

-3.0%

2017

640

172

2.4

$220,485

2016

598

142

2.1

$209,608

Change

+7.0%

+21.1%

+13.2%

+5.0%

A Sample of Susan’s Listings

$785,000

$780,000

$645,000

$599,000

11188 US Highway 1

4955 S US Highway 1

13380 Old Dixie Highway

12545 Roseland RD

A Selection of Recently Sold Properties

$340,000

$340,000

$345,000

$535,000

9673 Fleming Grant Road

5285 94th Lane

1568 Eagles Circle

9554 Riverview Drive