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Housing Market Updates for Mid-Year 2016 for the Treasure and Space Coasts

 

To get full reports for each market, including details on differing price points, contact your favorite agent today!

 

How is the housing market fairing in St Lucie County?  

With double digit increases in both inventory and average sales price, the St. Lucie County Housing Market is likely to continue its healthy pace throughout 2017, reports Coldwell Banker Paradise in their recently released Mid-Year Housing Report. This year, as many homeowners have found their equity levels rising, more and more St. Lucie residents are looking to finally make their move. Single family homes saw a 46% increase in sales at the $250k-$500K level. 


 

How is the housing market fairing on Hutchinson Island?  

Many homeowners, especially at the over $500k price point, have recovered enough equity to start exploring their options. This has led to increases in both inventory and sales at this level, providing a real upturn in activity on Hutchinson Island for the 2nd Quarter reports Coldwell Banker Paradise.   Waterfront and new development dominated the 2nd Quarter single family home sales. The largest improvement for Hutchinson Island properties was in the over $1M market with a significant amount of new listings at 83.3%. Homeowners are likely seeing the positive trend in the sellers market with buyers buying at a fast rate. Price increases were healthy, while overall sales saw a decrease of 21% (mostly due to inactivity at the beginning of the year). Inventory has been steadily increasing providing more selection for buyers. Buyers relocating to Hutchinson Island will find inventory increasing and homes under $500K adjusting in price.

 

 

How is the housing market fairing in Vero Beach?  

With double digit increases in both sales and inventory, the Vero Beach mainland housing market is likely to continue its healthy pace throughout 2017, reports Coldwell Banker Paradise in their recently released Mid-Year Housing Report. This year, as many homeowners have found their equity levels rising, more and more Vero Beach residents are looking to finally make their move. With prices rising, the $250,000 to $500,000 price range is now seeing increased activity. Inventory rates remain stable with a slight increase in the number of units on the market and in months supply of inventory.

 

How is the housing market fairing on Vero Beach Island? 

Significant inventory gains for Vero Beach Island properties leads to a favorable market for buyers, reports Coldwell Banker Paradise in its recently released 2017 Mid-Year Market Report. Due to increased appreciation, many homeowners, especially for those over the $500K price point, have recovered enough equity to start exploring their options. This has led to significant increases in inventory, providing a real upturn in listing activity on the Island. With triple digit increases in inventory in the over $1M price point, buyers are in a good position to shop around. “To keep buyer interest high, sellers will need to work with an experienced agent who can respond quickly to reflect changes in the market,” stated Co-Owner and Broker Linda Schlitt Gonzalez. Well-priced, well-placed homes will attract the right buyers. “Buyer enthusiasm and response will set the Island market in the months to come,” added Gonzalez.

 

How is the housing market in Sebastian?  

With increases in both sales and current listings, Sebastian remains the strongest mainland market along the Space and Treasure Coast, reports Coldwell Banker Paradise in their recently released Mid-Year Housing Report. This year, as many homeowners have found their equity levels rising, more and more Sebastian residents are looking to finally make their move. Single family homes saw a 63% increase in sales at the $250k-$500K level. Buyers looking to relocate to Sebastian will find a competitive market with homes being sold quickly along with inventory rising at a 23.5% rate. Working with an experienced agent is the only way for buyers to stay ahead of the rapidly changing inventory.

 

How is the housing market fairing on the mainland in Brevard County?

With double digit increases in current listings, the Brevard County housing market continues at a strong pace, reports Coldwell Banker Paradise in their recently released Mid-Year Housing Report.Many homeowners, especially at the over $250K price point, have recovered enough equity to start exploring their options. This has led to an increase of sales at this level.  The combination of new home buyers, job relocators and buyers coming from outside the area has left inventory levels low at only 2.2 months. This tightening of inventory has led to a 15% average price increase overall. “Buyers are quick to realize that they can get more for their money in Melbourne, West Melbourne and Palm Bay than in other cities,” stated Coldwell Banker Paradise Co-Owner and Broker Linda Schlitt Gonzalez.

 

How is the housing market fairing beachside in Brevard?  

With double digit increases in current listings, the Brevard County Island housing market continues at a strong pace, reports Coldwell Banker Paradise in their recently released Mid-Year Housing Report. Many homeowners, especially at the over $500K price point, have recovered enough equity to start exploring their options. This has led to an increase of sales at this level. “Buyers are quick to realize that buying Beachside in Brevard is a good value for their money,” stated Coldwell Banker Paradise Co-Owner and Broker Linda Schlitt Gonzalez. The combination of new home buyers, job relocators and buyers coming from outside the area has left inventories tight.   Although the inventory supply is climbing slightly, there is only a 3.2 month inventory and this has led to a 16% growth in average resale price. Condominium also saw significant listing activity. However, there has been a slight adjustment in prices overall, with most price levels seeing slight decreases.

 

 

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