1st quarter 2015 Market Report Summary by Coldwell Banker Paradise

2015 First Quarter Real Estate

MARKET REPORT for the Space and Treasure Coasts of Florida

COLDWELL BANKER PARADISE Ed Schlitt Realtors速 I Hoyt Murphy Realtors速

COLDWELL BANKER PARADISE Gains were Steady and Slow for the 1st Quarter of 2015 in the Local Real Estate Market Reports Coldwell Banker Paradise Shrinking inventory, steady economic improvement and consumer confidence led to overall gains in the local housing market, reported Coldwell Banker Paradise, the trusted leader in local real estate from Jensen to Cocoa Beach in its just released 2015 1st Quarter market analysis available to its agents and their clients. â&#x20AC;&#x153;Just as 2014 was a transition year from recovery to stabilization, so has 2015 started out, steady but overall positive across the board, it is just the kind of steady and slow rate of growth we like to see,â&#x20AC;? stated CoOwner and Broker Steven Schlitt. With nine offices serving your real estate needs from Cocoa to Jensen Beach, Coldwell Banker paradise has been family owned and operated for more than 60 years. (www.FLColdwellBanker. com). Coldwell Banker paradise is a trusted local leader in residential and commercial real estate sales, property management and sales in niche markets such as oceanfront, riverfront, resort, new home and luxury properties.

St. Lucie County Housing inventory at the lower end of the price range continues to be

VERO BEACH MAINLAND 772-778-2029

VERO BEACH ISLAND 772-231-4880

SEBASTIAN MAINLAND 772-589-7777

tight, and in fact, dropped from a four month supply to a three and a half month supply while houses priced over $500k inventory is at a healthy level. For St. Lucie County condos there continues to be a deficit in inventory on the market, resulting in a higher percentage increase in the average price with only modest overall sales.

Vero Beach Mainland On the Vero Beach mainland, single family homes saw the greatest increase in average price in those properties $250k-$600k range which resulted in a tripling in the number of homes sold over $500k from the previous year. There were small decreases in inventory in Vero Beach mainland (on the Vero leading to sustainable price increases in the 6-8% market range in almost all categories. Look for continued steady increases in average prices, especially in the over $250k market.

Vero Beach Island For single family homes and condos on Vero Beach Island average prices continued to increase, especially at the lower end of the price range. Inventory remains healthy for homes and condos priced over $500k, while inventory at the lower end of the price range, under $500k sees the most movement. Sales of properties over $1m skewed the average price increases, resulting in more realistic gains of 2-7% in the average price.

Look for continued steady increases in average prices, especially in the over $250k market...

INDIALANTIC BREVARD 321-951-3300

NORTH HUTCHINSON 772-464-7007

OCEAN VILLAGE 772-489-6100

Hutchinson Island

For single family homes and condos on Hutchinson Island average prices continued to increase, especially at the Beach Mainland) lower end of the price range. With half as much inventory as this time last year, prices are expected to continue to increase at a stronger level for those at the lower

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FT. PIERCE MAINLAND 772-461-3250

PORT ST. LUCIE 772-878-3200

end of the price range, but only modestly for those houses and units priced over $500k.

Sebastian Despite a tight supply in inventory for single family homes with under a six month supply in most of the market, prices did not show a large increase in average sale price. If the inventory shortage continues prices may rise later in the year. For single family homes in Brevard County priced under $500k, the market supply of inventory dipped from a balanced market to a shortage of supply creating strong price increases in homes under $250k of $129k average price. Average prices for single family homes increased by almost 11% and average prices for condos improved by 26%. In the over $250k market, inventory improved to a more balanced market between buyers and sellers and prices stabilized as well with only small changes up and down.

Brevard County Mainland For single family homes in Brevard County priced under $500k, the market supply of inventory dipped from a balanced market to a shortage

Inventory remains healthy for homes and condos priced over $500k on the Island in Vero Beach. of supply creating strong price increases in homes under $250k of $129k average price. Average prices for single family homes increased by almost 11% and average prices for condos improved by 26%. In the over $250k market, inventory improved to a more balanced market between buyers and sellers and prices stabilized as well with only small changes up and down.

Inventory dipped from a balanced market to a shortage of supply creating strong price increases... (Brevard County

Brevard County Beachside Under $500k market supply of inventory dipped from a balanced market to a shortage of supply creating strong price increases in homes under $250k, with an $171k average price. If the inventory remains at such a low level price increases will continue to increase into second quarter of 2015. In the over $500k market inventory improved to a more balanced market between buyers and sellers and prices stabilized as well with only small changes up and down.

d ow n l o a d t h e f u l l m a r k e t r e p o rt s at :

www.flcoldwellbanker.com

#1 in Properties Listed & Sold Market Share For over 20 years. 6.52%

6.33%

3.70% 2.82%

Coldwell Banker Paradise

Dale Sorensen Real Estate Inc.

2.44%

RE/MAX Masterpiece RE/MAX Crown Realty Alex Macwilliam, Inc. Realty

*Based on number of homes listed and sold as reported by the MLS systems as taken from Terradatum in Indian River, St Lucie and Brevard Counties from 4/8/1995-4/8/2015.

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