Florida Townhouses and Condos August 2021 Market Report
Florida Townhouses and Condos showed improved closed sales when compared to last year, though at smaller numbers than in the previous months. New pending sales, were up slightly, reflecting the low inventory that is currently available. This will most likely result in lower closed sales results in the coming months. Closed sales were up by 13.1% as compared to last month’s increase of 21.1%. New sales under contract (new pending sales) increased by 3.7% (In July, a 0.6% increase).
Prices, also, continued to rise in August. The median sales price was up by 16.1% (was up by 20.5% in July). While the average sales price increased by 18.9% (was up 28.1% in July).
The inventory of active listings decreased by 52.4% from August of last year. This results in 1.7 months supply of inventory as compared to 5.3 months for July 2020. 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. In conclusion, a very strong market.
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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