Inventory at lowest point since 2007; drop in supply and uptick in demand has put upward pressure on pricing, showing a 10% YOY increase in barrier island single family sales prices; ‘just off the bridge’ sector leads mainland showing signs of stablization as are all quadrants of single family homes in Indian River County.
10% INCREASE IN PRICING FOR SING FAMS ON ISLAND JAN-AUG YOY;
$951K AVERAGE PRICE OF SOLD DETACHED SING FAMS ON ISLAND
AVERAGE 29.33 SALES PER MONTH OF DETACHED SING FAMS = 13 MOS INVENTORY
Looking forward: homes under contract and pendings continue to be at same volume as balance of 2012; no matter the price sector, single family homes that find their sweet spot of pricing are finding multiple buyers.
Sales/Inventory Barrier Island: Single Family Homes 2011-2012
| Month | Sept | Oct | Nov | Dec | Jan | Feb | March | April | May | June | July | Aug | Sept | Oct |
| For Sale on MLS | 463 | 576 | 507 | 487 | 473 | 435 | 418 | 412 | 405 | 398 | ||||
| Under Contract w/Conditions | 34 | 49 | 73 | 67 | 65 | 47 | 52 | 51 | 32 | |||||
| Pending Sale | 5 | 7 | 17 | 19 | 19 | 10 | 10 | 11 | 16 | |||||
| Sales | 22 | 20 | 20 | 32 | 38 | 43 | 45 | 27 | 13 | |||||
| New Listings | 67 | |||||||||||||
| Net Inventory | ||||||||||||||
| Months of Inventory | 21 | 15 | 13 | |||||||||||
| Avg Days of Market | 265 | |||||||||||||
| Avg List to Sell Ratio | 90% | 92.7% | ||||||||||||
| Avg Sale Price | $610,763 |
