St Lucie County Townhouses and Condos May 2023 Market Report
The St Lucie County Townhouses and Condos market continues to show weaker sales activity when compared to last year, but only slightly. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were down by 0.8% from last year (were down by 31.5% in April). New pending sales were down by 6.8% (they were down by 16.9% last month).
Prices were mixed for May. The median price increased by 8.9% from last year (was up by 7.0% in April) and the average sales price decreased by 0.2% (was down by 8.2% in April).
The available townhouses and condos inventory decreased by 14 units from last month to 375 residences. This is 130.1% greater inventory than we had in May 2022. The current inventory supply is 4.5 months, as compared to 1.4 months of inventory last year. The St Lucie County townhouses and condos real estate market remains in a sellers’ market, though trending towards a balanced one. 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.
Leave a Reply