Market Update- 4 Interesting Trends

Market Update- 4 Interesting Trends- Can You Guess What They Are? 🤔

St Lucie County Median Price of $220444 is at Least $127000 LESS than the median in the 4 counties to the south! 💵

Year over Year Sales dropped 11.1%. Why? Tight inventory and in the lower end a lack of clean properties for sale, Interest rate increases, while minor so far, may have pushed some buyers out of the market. And maybe the up north weather?! April sales activity feels much stronger… so keep watching!

The time a home goes under contract shrunk to 36 days! Gotta move fast! 🏃🏽‍♀️

Our inventory is at a 3.6 month level a 5 or 6 month level is considered a “normal” market. New homes under construction may help this trend a bit yet some builders are reporting lines on “lot release” day!

Takeaways- 

Buyers- if you’re a buyer especially renting at high prices… this could be a good time to buy- rates will continue to climb! ↗️

Sellers- much of your value has now recovered from the downturn. 

Rates and other influences could slow housing prices soon… maybe this is the best time to sell unwanted properties?!

Contact us to Focus On Your Next Move! 🏡