Florida Townhouses and Condos December 2022 Market Report
Florida Townhouses and Condos market report continues to show weaker sales activity when compared to last year. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates. Price increases seem to have moderated which may be an indication for future increased activity. Closed sales were down by 40.0% as compared to last month’s decrease of 38.9%. New sales under contract (new pending sales) decreased by 39.9% (In November, there was a 42.1% decrease).
Year-to-year prices are still going up but at a lower pace. The median sales price was up by 8.8% (was up by 12.3% in November). While the average sales price increased by 1.5% (was up 10.1% in November).
The inventory of active listings increased by 65.0% from December of last year. This results in 2.8 months’ supply of inventory as compared to 1.3 months for December 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.
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.
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