Florida Townhouses and Condos June 2022 Market Report
Florida Townhouses and Condos showed slower sales activity when compared to last year. While we continue to have historically low inventory (though it is increasing), we are also facing rising interest rates and higher prices. I expect inventory to continue to increase which will exert downward pressure on prices and hopefully an increase in sales. Though, this will take some time. (Don’t ask me how long!) Closed sales were down by 27.0% as compared to last month’s decrease of 14.4%. New sales under contract (new pending sales) decreased by 30.1% (In May, there was a 25.1% decrease).
Prices are still going up. The median sales price was up by 26.4% (was up by 28.8% in May). While the average sales price increased by 21.6% (was up 19.2% in May).
The inventory of active listings increased by 2.4% from June of last year. This results in 1.9 months supply of inventory as compared to 1.7 months for June 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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