2015 St. Lucie County Third Quarter Market Report

2015 St. Lucie County Third Quarter Real Estate

M A R K E T R E P O RT

PORT ST LUCIE 7202 S US 1 772.878.3200

FORT PIERCE 411 N US 1 772.461.3250

S. HUTCHINSON ISLAND

221 S OCEAN DRIVE 772.461.1324

St. Lucie County 3rd-Quarter Comparison 2015 to 2014 As the Cooler Weather of Fall Looms, Home Prices Heat Up in St Lucie County Compared to a statewide average inventory of 5.4 this time last clients, on a one-on-one basis. year, St. Lucie County’s current 1.9 months supply of single family

In contrast to properties at the lower end of the homes stands as significant marker in how far the housing market market, single family homes priced in the mid-level, from has come in the last five years, reports Coldwell Banker Paradise $250-$500k saw a price decrease. In fact, prices were down in their just released 3rd Quarter Market Report for 2015. With 4.5% over last year, “modest price decreases, and even price over fifteen years experience in the St. Lucie housing market, St stabilization is a sign of a healthy market,” added Schlitt.

Lucie County Sales Manager Brian Lemen declared, “for single family “However with a drop in inventory, I would expect prices to homes priced under $250K, I’ve never seen inventory levels at 1.9 increase over the next two quarters.” With almost half the months supply, never.” Usually known for inventory as this time last year, both prices and its plethora of affordable, quality housing, inventory continue to fall for condominiums.

“If the trends St. Lucie County has undergone quite a “Condos continue to be a solid investment all continue, we will transformation. “In five years, we’ve gone along the Treasure Coast,” reports Schlitt. With from 11.9 months supply to 1.9, for this inventory dropping, market prices will soon go see prices increase, price point,” added Lemen. As a result, up. “When it comes to condos, the word is prices for single family homes in St. Lucie perhaps significantly” investment, investment, investment.”

County have seen a 14.5% increase in Voted best St. Lucie brokerage by the readers of the under $250K segment. “If inventory Treasure Coast Newspapers, Coldwell Banker levels continue being tight, we are likely to see a 15% increase in Paradise prides itself on providing the best market knowledge overall sales price in 2016,” predicts Co-Owner and Broker Steven available to home buyers and sellers through its Quarterly Schlitt.

Market Reports and it’s knowledgeable agents. “Our agents With prices rising, homeowners have regained essential equity. are the experts, they are in the neighborhoods, seeing what “Sellers can be confident that now is the time to explore putting is selling and why. Want to know what is happening in your their house on the market. If a homeowner hasn’t looked into how neighborhood, as compared to your surrounding county and much their house might be worth, they will be pleasantly surprised,” the region? Ask our agents today,” urged Schlitt. You can added Schlitt. As a market leader, with cutting edge tools, and reach our Port St. Lucie office at 772-878-3200 and in Fort information available to them, Coldwell Banker Paradise agents are Pierce, you can reach us at 772-461-3250. uniquely positioned to offer customized market analysis to their

SINGLE FAMILY HOMES Price Point Under $250,000

$250,001 to $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

Year

Homes Sold

Current Listings

Month’s Supply

Average Price

2015

3632

760

1.9

$143,584

2014

4041

1024

2.3

$125,359

Change

-10.1%

-25.8%

-18.1%

+14.5%

2015

507

436

7.7

$300,933

2014

279

333

10.7

$314,999

Change

+81.7%

+30.9%

-27.7%

-4.5%

2015

39

91

21.0

$612,305

2014

25

90

32.4

$690,543

Change

56.0%

+1.1%

-35.2%

-11.3%

2015

7

24

30.9

$1,107,993

2014

3

24

72.0

$3,705,000

Change

+133.3%

+0.0%

-57.1%

-70.1%

2015

4185

1311

2.8

$134,280

2014

4348

1471

3.0

$143,173

Change

-3.7%

-10.9%

-6.0%

-6.2%

CONDOS Price Point Under $250,000

$250,001 to $500,000

$500,001 to $1,000,000

Over $1,000,000

Total

Year

Condos Sold

Current Listings

Month’s Supply

Average Price

2015

330

122

3.3

$71,533

2014

557

200

3.2

$85,541

Change

-40.8%

-39.0%

4.0%

-16.4%

2015

2

2

9.0

$354,750

2014

2

3

13.5

$417,500

Change

0%

-33.3%

-33.3%

-15.0%

2015

0

3

0

$0

2014

0

0

0

$0

Change

0%

+100%

0%

0%

2015

0

4

0

$0

2014

0

0

0

$0

Change

0%

+100%

0%

0%

2015

332

131

3.6

$73,239

2014

559

203

3.3

$86,731

Change

-40.6%

-35.5%

+7.6%

-15.6%

What is my home or condo worth in today’s market?

Did you know that some online comparative analysis tools can be more than 10% off? With St. Lucie County homes now averaging $134K,that could mean your house could be worth $13,000 more than that website you just visited estimated. When was the last time you walked away from $13K? Only an expert in the local market can offer truly accurate local market analysis. As deep-rooted community members and leaders, Coldwell Banker Paradise agents have the big picture view, they know what sells and why, for what price, and how to get the most out of the market, both as a buyer and a seller. With Coldwell Banker Paradise agents you can trust that they are giving you the best information, the best service and the best experience available. Call today to find out what your home is really worth. In Port St. Lucie call us at 772-878-3200 and in Fort Pierce, you can reach us at 772-461-3250.

E X C L U S I V E LY P R E S E N T I N G :

FORT PIERCE $327,900-4/2 waterfront home on .39 acre lot has it all

FORT PIERCE $299,900-Enjoy the spectacular view of the Indian River in this 3/2 home

PORT ST. LUCIE $259,900 - 4/3/2 pool home with screened lanai and waterfall

FORT PIERCE $239,000 - 3/3 pool home with 7 car garage (2 attached/4 detached)

flcoldwellbanker.com

PRSRT SSTD ECRWSS U.S. POSTAGE PAID EDDMRETAIL

A SELECTION OF RECENT SOLDS:

Fort Pierce 2376 Johnston Road $570,000

Fort Pierce 518 N 2nd Street $247,000

Fort Pierce 9520 Laurelwood Court $235,000

Port Saint Lucie 4472 Daemon Street $209,900

THE RIGHT REPRESENTATION MAKES ALL THE DIFFERENCE Coldwell Banker Paradise is the largest real estate brokerage firm in the area, with 9 offices serving St. Lucie, Indian River and Brevard Counties. We are commited to providing the highest level of real estate services to our clients with comprehensive regional marketing.

For over 60 years our family-owned and operated company has assembled a highly trained and professional sales organization.

We have specialists in residential and commercial sales, leasing services for both, as well as a property management division.

Whether you are considering buying, selling, leasing or professional management of your property, give us a call. We are open 7 days a week for your convenience.

C O L D W E L L JENSEN BEACH 772-349-0378

B A N K E R

PORT ST. LUCIE

FT. PIERCE MAINLAND

772-878-3200

772-461-3250

P A R A D I S E

S. HUTCHINSON ISLAND 772-461-1324