Florida Townhouses and Condos November 2024 Market Report
Florida Townhouses and Condos real estate market had weaker sales activity when compared to last year. We continue to face headwinds with many economic uncertainties and high mortgage rates, though recent moves from the Fed should hopefully sooner than later. Closed sales were down by 15.6% compared to last month’s decrease of 19.9%. New sales under contract (new pending sales) decreased by 4.9% (In October, there was a 18.3% decrease).
Prices were down for November compared to last year. The median sales price was down by 5.8% for November (down by 2.2% in October). And the average sales price decreased by 6.7% (was down by 0.5% in October).
The inventory of active listings increased by 46.1% from November last year. This results in a 8.2-month supply of inventory as compared to a 5-month supply for November 2023. We remain in a buyer’s market for Florida townhouse and condo sales after a long stretch in a seller’s market. A balanced market favoring neither buyers nor sellers is considered to be one with a 6 to 7-month supply of inventory.
Please click on the image or link below to download the full Florida single-family real estate market report.
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.
- Florida Townhouses and Condos November 2024 Market Report
- Florida Single Family Homes November 2024 Market Report
- Florida Townhouses and Condos October 2024 Market Report
- Florida Single Family Homes October 2024 Market Report
- Florida Townhouses and Condos 2024 3rd Quarter Report
- Florida Single Family Homes 2024 3rd Quarter Report
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