Florida Townhouses and Condos March 2020 Market Report
Florida Townhouses and Condos had stronger closed sales activity for March, but new pending sales are off considerably and I’m afraid this indicates some challenging months to come in this real estate sector. Closed sales were up by 4.7% as compared to last month’s increase of 10.8%. New sales under contract (new pending sales) decreased by 35.0% (In February there was an 13.9% increase).
Prices were up for March. The median sales price was up by 10.8% (was up by 6.7% in February), while the average sales price increased by 7.2% (was up 2.6% in February).
The inventory of active listings decreased by 8.5% from March of last year. This results in 5.5 months of inventory as compared to 6.3 months for March 2019. Remaining in a seller’s market for Florida townhouse and condo sales. A balanced market favoring neither buyers or 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 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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