Florida Townhouses and Condos February 2022 Market Report
Florida Townhouses and Condos showed slightly slower sales activity when compared to last year. We need to be aware that we remain in a market with unprecedented low inventory that is 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 3.6% as compared to last month’s increase of 6.7%. New sales under contract (new pending sales) decreased by 17.1% (In January, a 7.3% decrease).
Prices continued to rise in February. The median sales price was up by 24.3% (was up by 23.9% in January). While the average sales price increased by 19.0% (was up 19.6% in January).
The inventory of active listings decreased by 55.7% from February of last year. This results in 1.2 months supply of inventory as compared to 3.4 months for February 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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