St Lucie County Townhouses and Condos June 2022 Market Report
The St Lucie County Townhouses and Condos market had weaker sales activity when compared to last June. 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 38.8% from last year (were down by 34.7% in May). New pending sales were down by 36.4% for May (they were down by 29.5% last month).
Prices are still rising. The median price increased by 44.8% from last year (was up by 18.4% in May) and the average sales price increased by 28.9% (was up by 24.1% in May).
The inventory of available townhouses and condos increased by 38 units from last month to 201 residences. This is 24.8% greater inventory than we had in June 2021. The current inventory supply is 1.8 months, as compared to 1.1 months of inventory last year. The St Lucie County townhouses and condos real estate market remains in a tight sellers’ market, mainly because of the decrease in inventory. Typically a 6 to 7-month inventory is considered a balanced market showing no advantage to either buyers or sellers.
View previous St. Lucie County market reports here.
Recent County Market Report Posts:
- St. Lucie County Townhouses and Condos 2024 3rd Quarter Report
- St. Lucie County Single Family Homes 2024 3rd Quarter Report
- Martin County Townhouses and Condos 2024 3rd Quarter Report
- Martin County Single Family Homes 2024 3rd Quarter Report
- St Lucie County Townhouses and Condos September 2024 Market Report
- St Lucie County Single Family Homes September 2024 Market Report
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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