St. Lucie County 2018 1st Quarter Real Estate Market Report
St. Lucie county real estate continued strong steady growth in the first quarter of 2018. Prices increased by 8% which is a pace that should continue into the future.
With a 6.5 month supply of inventory in homes priced over $250,000, buyers generally have a good supply of homes from which to choose and price increases have been moderate at only 4%. New home inventory in this price range will help to keep price increases to about the 4% rate ongoing.
Buyers looking for homes under $250,000 will continue to be challenged with a short supply of only 10 weeks worth of inventory. Buyers need to get onto a home search update with their agent and be ready to move when the right home comes on the market.
Mortgage rate increases will be a moderating influence on price increases as well. As the mortgage rates raise the cost of borrowing, buyers are held back on the amount they can pay for a home.