2015 St. Lucie County Year End 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 Year End Comparison 2015 to 2014
St. Lucie County Housing Market Not Enough Inventory to Meet Demand Causes Price Increases Tight inventory levels means increasing prices for almost all segments of the St. Lucie County housing market, reports Coldwell Banker Paradise in their just released Year End Market Report for 2015. Usually known for a steady supply of affordable, quality housing, price points on St. Lucie County single family homes are on the rise, up from $147K last year to over $170K at the start of 2016. “With interest rates likely to rise, it means that the time to buy is now,” stated Coldwell Banker Paradise Co-owner and Broker Linda Schlitt Gonzalez. “And the old axiom continues to bode well for sellers, that the best time to sell is when everyone is buying.” In general, 2015 was a healthy year for the housing market: many homeowners regained essential equity, and housing prices across the board steadily increased. During the summer and fall of 2015 a trend slowly emerged and that was a slowing or decrease of available homes for sale in the marketplace. In fact, during November and into December the shortage of inventory resulted in a decrease in sales – there simply were not enough homes for buyers to purchase. For condominium owners, steady sales of lower priced units drove the 2015 market, causing an overall decrease in the average price. “In early 2015, we saw prices rise for condos and then over the summer and into the fall, the market
self corrected, with sales slowing and more price stabilization,” added Schlitt Gonzalez. On the other hand, with only a 2.2 months supply for those single family homes priced under $250K in St. Lucie County, those homeowners who were waiting to see if the market would recover, congratulations are in order. With a lack of available homes, now is precisely the right time for homeowners to explore just what their house might be worth. How can someone find out what their house might be worth? You can go online, but studies have shown that estimates from national online sources can be as much as 21% off – the only real number a homeowner can trust is from a reputable, professional Realtor who specializes in their neighborhood. Add to that the fact that prices vary widely across the Treasure Coast, from Skyline Drive in Jensen Beach to Floresta Drive in Port St. Lucie to St Lucie West, it takes someone with experience to look at the sales history for an area, know the state of the market, and interpret all of that for a homeowner.You can reach our Port St. Lucie office 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 $695,000 As seen on cover!
FORT PIERCE $251,000
Port St. Lucie $209,900
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
4072
852
2.2
$145,793
2014
5348
995
2.2
$115,554
Change
-12.1%
-14.4%
-1.2%
+26.2%
2015
662
444
8.0
$306,290
2014
407
328
9.7
$316,124
Change
+62.7%
+35.4%
-17.0%
-3.1%
2015
49
96
23.5
$643,029
2014
32
95
35.6
$688,174
Change
+53.1%
+1.1%
-34.0%
-6.6%
2015
5
28
67.2
$1,188,500
2014
5
32
76.8
$1,063,000
Change
0.0%
-12.5%
-12.5%
+11.8%
2015
5420
1420
3.1
$170,863
2014
5792
1449
3.0
$147,825
Change
-6.4%
-2.0%
+4.8%
+15.6%
E X C L U S I V E LY P R E S E N T I N G :
FORT PIERCE $1,595,777
FORT PIERCE $334,900
FORT PIERCE $685,000
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
410
85
2.5
$72,212
2014
740
199
3.2
$86,386
Change
-44.6%
-57.3%
-22.3%
-16.4%
2015
2
3
18.0
$354,750
2014
3
2
8
$383,933
Change
-33.3%
+50.0%
+125%
-7.6%
2015
0
3
0
$0
2014
0
0
0
$0
Change
0%
+100%
0%
0%
2015
0
5
0
$0
2014
0
0
0
$0
Change
0%
+100%
0%
0%
2015
310
96
3.7
$102,982
2014
559
203
3.3
$86,731
Change
-44.5%
-11.7%
12.6%
+18.7%
PRST STD ECRWSS U.S. POSTAGE
PAID
STUART, FL PERMIT NO. 274
RESIDENTIAL CUSTOMER
A SELECTION OF RECENT SOLDS:
Fort Pierce 124 Queen Frederika Way $378,000
Royal Palm Beach 110 Allamanda Court $439,000
Port St Lucie 2161 Janette Ave $185,000
Fort Pierce 5005 Tamoka Court $149,000
Port St Lucie 5898 NW Dowse Street $249,900
THE RIGHT REPRESENTATION MAKES ALL THE DIFFERENCE Coldwell Banker Paradise is the largest real estate brokerage firm in the area, with 10 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 63 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
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