Florida Townhouses and Condos April 2024 Market Report
Florida Townhouses and Condos real estate market report had slightly stronger sales activity when compared to last year. The inventory numbers continue to grow, but we face headwinds with economic uncertainties and stubbornly high mortgage rates. I still expect the market to improve with a gradual return to a historically normal real estate market. Closed sales were up by 1.9% compared to last month’s decrease of 16.6%. New sales under contract (new pending sales) decreased by 4.3% (In March, there was a 12.6% decrease).
Prices were up for April compared to last year. The median sales price was up by 3.1% for April (also up by 3.1% in March). And the average sales price increased by 8.2% (was up by 1.5% in March).
The inventory of active listings increased by 84.5% from April last year. This results in a 6.9-month supply of inventory as compared to a 3.5-month supply for April 2023. We have entered into a balanced market for Florida townhouse and condo sales after a long period of a seller’s market. A balanced market favoring neither buyers nor sellers is considered to be one with a 6 to 7-month supply of inventory.
Please click on the image or link below to download the full Florida single-family real estate market report.
View previous Florida townhouses and condo market reports by clicking this link.
To view the latest 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.
- Florida Townhouses and Condos 2024 1st Quarter Report
- Florida Single Family Homes 2024 1st Quarter Report
- Florida Townhouses and Condos April 2024 Market Report
- Florida Single Family Homes April 2024 Market Report
- Florida Townhouses and Condos March 2024 Market Report
- Florida Single Family Homes March 2024 Market Report
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