Florida Townhouses and Condos October 2022 Market Report
Florida Townhouses and Condos market report continues to show weaker sales activity when compared to last year. The inventory numbers are improving, but we are facing headwinds with increasing mortgage rates as well as stubbornly high prices. Closed sales were down by 26.9% as compared to last month’s decrease of 29.0%. New sales under contract (new pending sales) decreased by 42.5% (In September, there was a 34.6% decrease).
Year-to-year prices are still going up. The median sales price was up by 19.2% (was up by 20.5% in September). While the average sales price increased by 17.6% (was up 17.2% in September).
The inventory of active listings increased by 31.0% from October of last year. This results in 2.5 months’ supply of inventory as compared to 1.6 months for September 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 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.
- Florida Townhouses and Condos March 2024 Market Report
- Florida Single Family Homes March 2024 Market Report
- Florida Townhouses and Condos February 2024 Market Report
- Florida Single Family Homes February 2024 Market Report
- Florida Townhouses and Condos January 2024 Market Report
- Florida Single Family Homes January 2024 Market Report
Leave a Reply