Florida Townhouses and Condos April 2022 Market Report
Florida Townhouses and Condos showed slower sales activity when compared to last year. We need to be aware that we remain in a market with unprecedented low inventory and also increasing borrowing costs that are significantly affecting the real estate market. This will most likely continue in the near future until inventory levels begin to rise. Closed sales were down by 20.9% as compared to last month’s decrease of 11.4%. New sales under contract (new pending sales) decreased by 23.9% (In March, there was a 21.3% decrease).
Prices, however, continued to rise in April. The median sales price was up by 24.0% (was up by 27.3% in March). While the average sales price increased by 16.4% (was up 25.5% in March).
The inventory of active listings decreased by 37.9% from April of last year. This results in 1.3 months supply of inventory as compared to 2.3 months for April 2021. Remaining in a sellers’ market for Florida townhouse and condo sales. A balanced market favoring neither buyers nor sellers is considered to be one with a 6 to 7 month supply of inventory.
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View previous Florida townhouses and condo market reports by clicking this link.
To view the latest set of reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit GabeSanders.com and select Market Data.
Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.
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