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
|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|
|Months of Inventory||21||15||13|
|Avg Days of Market||265|
|Avg List to Sell Ratio||90%||92.7%|
|Avg Sale Price||$610,763|