Get Your Local Housing Market Trends
Housing Market Updates for the Treasure and Space Coasts
Every quarter, Coldwell Banker Paradise produces local housing market reports for each of our individual market areas. Covering 135 miles of Florida's Space and Treasure Coasts, our agents have the pulse on what is happening in your local area. To get copies of our latest reports, call 772-888-0777.
How is the housing market fairing in:
St Lucie County: Sales and prices have stabilized in the St Lucie County Housing Market during the 3rd quarter of 2017, reports Coldwell Banker Paradise. The tightening of inventory is especially evident at the lowest end of the market, with homes under $250K at a critically short level. There is a healthy pace of sales in homes priced over $500K market, with sales increasing over 98%.
Hutchinson Island: The 3rd Quarter housing market on Hutchinson Island is undergoing a transition towards a more upscale market, reports Coldwell Banker Paradise. New construction continues to dominate the Hutchinson Island single family home market, with a number of luxury new home builds continuing to drive up price points. At the same time, inventory has increased, especially at the higher end of the market, with a significant increase in homes available over $1m, giving buyers a strong supply to choose from. As for condos on Hutchinson Island, a decrease in sales is leading to a more balanced market between buyers and sellers. If this continues, the Island condo market is likely to see a stabilization in prices.
Vero Beach: Price increases have slowed over this time last year, with an overall increase of 5% year over year. The overall stability in prices and sales is evidence of buyer resistance and financing limits on rapid price increases. Pricing is key in a tight inventory market, with most sales happening within six weeks. If a home is priced correctly, based on past area sales, it is likely to see a lot of buyer activity. Due to the healthy pace of sales at the lower end of the market, inventory is declining for condos prices under $500k.
Vero Beach Island: Strong sales at all levels of the Vero Beach Island market and decreasing inventory led to an overall healthy and brisk housing market for both single family homes and condos during 3rd quarter of 2017, reports Coldwell Banker Paradise. Unlike other markets on the Space and Treasure Coast, the Island market is unique in that decreasing inventory and continued buyer demand is likely to keep prices increasing at a steady pace. Even with the -21.5% dip in inventory, levels are still healthy overall with eight months supply on hand.
Sebastian: The Sebastian housing market is undergoing a transition from an affordable place to buy to a higher price point in home sales reports Coldwell Banker Paradise in the 3rd Quarter Market Report for 2017. Formerly a housing market where buyers could purchase more affordable units under $250K, much of the inventory at that price point for single family homes has disappeared.
Brevard County: The housing market on the mainland in Brevard County is remarkable for having the lowest inventory levels across the Space and Treasure Coast, reports Coldwell Banker Paradise in the 3rd Quarter Market Report for 2017. In general, low inventory levels might lead to price increases, however, wage stagnation is likely a factor leading to price stabilization. That, in combination with buyer resistance and financing are all holding prices stable.
Beachside, Brevard: Strong sales at the upper end of the market and stable inventory lead to an overall healthy and brisk housing market for both single family homes and condos during 3rd quarter of 2017, reports Coldwell Banker Paradise. With the local job market continuing its own robust pace, sales are likely to remain strong.