Florida Townhouses and Condos Sales 2024 Yearly Review
The Florida Townhouses and Condos Sales for 2024 continues to show weak sales activity, but not quite as bad when compared to the previous year. The real estate market has experienced numerous issues with prices that rose too rapidly, increasing mortgage and insurance rates, and worries about the economy. Add to that, in the condo market, buildings three stories or higher faced milestone studies for safety and sometimes accompanying high assessments. Year-to-year closed sales were down by 10.5% compared to 2023 which saw a decrease of 16.5% and new sales under contract (new pending sales) decreased by 11.7% (2023 saw a decrease of 13.2%).
Both median and average sales prices were marginally changed (year to year), -0.8 and +1.5% respectively (2023 numbers were 5.2% and 3.9%). Prices are not rising as fast as in previous years such as the time around COVID.
Inventory increased by 42.8% as compared to 2023’s increase of 52.6%. And, the supply of properties rose to 8.2 months as compared to 5.1 months in 2023. It is clearly a buyer’s market for Florida townhouses and condos.
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Townhouses and Condos Sales in Florida for 2024
View previous Florida Townhouses and Condos Yearly Reviews Here!
To view the latest set of reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit PineappleGroupFL.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 Sales 2024 Yearly Review
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- Florida Townhouses and Condos December 2024 Market Report
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