Florida Townhouses and Condos October 2023 Market Report

11.24.23 by

Florida Townhouses and Condos October 2023 Market Report

Florida Townhouses and Condos real estate market report continues to show weaker sales activity when compared to last year, but is improving. The inventory numbers are growing (though not as quickly as in the previous few months), but we are facing headwinds with economic uncertainties, though mortgage rates appear to have peaked and starting to decrease. Closed sales were down by 2.9% compared to last month’s decrease of 0.2%.  New sales under contract (new pending sales) increased by 1.4% (In September, there was a 0.6% decrease).

Prices were up for October compared to last year. The median sales price was up by 3.9% for October (was up by 5.8% in September). And the average sales price increased by 8.5% (was up by 4.7% in September).

The inventory of active listings increased by 44.6% from October last year.  This results in a 4.6-month supply of inventory as compared to 2.5 months for October 2022.  We remain 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.

Please click on the image or link below to download the full Florida single-family real estate market report.

Florida Townhouses and Condos October 2023 Market Report
Florida Townhouses and Condos October 2023 Market Report
Download/view the full 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 October 2023 Market Report

Martin County Townhouses and Condos 2023 3rd Quarter Report

10.28.23 by

Martin County Townhouses and Condos 2023 3rd Quarter Report

Click the image below to view the full details of the Martin County Townhouses and Condos Quarterly Report as reported by Florida Realtors.

Martin County Townhouses and Condos 2023 3rd Quarter Report
Martin County Townhouses and Condos 2023 3rd Quarter Report

For the Martin County townhouses and condos real estate market, a small blip of increased sales volume. Though, new pending sales are down, indicating that this trend will most likely be short-lived.  Prices were mixed when compared to this quarter last year.  Along with the rising interest rates, this is not a good sign for the future. I doubt that we will see any improvement in this market until rates begin to recede.

Click here to view/download the full report

View the entire set of data at GabeSanders.com

See previous Martin County quarterly reports

Martin County Townhouses and Condos 2023 3rd Quarter Report

Florida Townhouses and Condos 2023 3rd Quarter Report

10.26.23 by

Florida Townhouses and Condos 2023 3rd Quarter Report

Click the image below to view the 2023 3rd Quarter Report as reported by Florida Realtors.

Florida Townhouses and Condos 2023 3rd Quarter Report

For the 3rd quarter of 2023, the Florida townhouse and condo real estate market continued the trend of reduced sales volume. Prices appear to have moderated and only rose modestly for this quarter. Inventory is continuing to increase, but it is not bringing in more buyers to date mainly due to the currently high interest rates.  I doubt that we will see any improvement in this market until rates begin to recede.

Click here to view/download the full report

View previous Florida quarterly reports here.

View the entire set of data at GabeSanders.com

Florida Townhouses and Condos 2023 3rd Quarter Report

Florida Single Family Homes 2023 3rd Quarter Report

10.25.23 by

Florida Single Family Homes 2023 3rd Quarter Report

Click the image below to view the full details of the 2023 3rd quarter single-family home market report as reported by Florida Realtors.

Florida Single Family Homes 2023 3rd Quarter Report

For the 3rd quarter of 2023, Florida single-family homes continued the trend of reduced sales volume. Prices rose for this quarter, though at a much-reduced rate. Inventory is continuing to increase, but it is not bringing in more buyers to date mainly due to the currently high interest rates.  I doubt that we will see any improvement in this market until rates begin to recede.

Click here to view/download the full report

View the entire set of data at the GabeSanders.com market data page.

Click here to view the previous Florida quarterly market reports

Florida Single Family Homes 2023 3rd Quarter Report

Florida Townhouses and Condos September 2023 Market Report

10.20.23 by

Florida Townhouses and Condos September 2023 Market Report

Florida Townhouses and Condos real estate market report continues to show weaker sales activity when compared to last year, but is improving. The inventory numbers are growing (though not as quickly as in the previous few months), but we are facing headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were down by 0.2% compared to last month’s decrease of 7.2%.  New sales under contract (new pending sales) decreased by 0.6% (In August, there was a 11.0% decrease).

Prices were up for September compared to last year. The median sales price was up by 5.8% for September (was up by 6.2% in August). And the average sales price increased by 4.7% (was up by 10.8% in August).

The inventory of active listings increased by 36.4% from September last year.  This results in a 4.1-month supply of inventory as compared to 2.3 months for September 2022.  We remain 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.

Please click on the image or link below to download the full Florida single-family real estate market report.

Florida Townhouses and Condos September 2023 Market Report
Florida Townhouses and Condos September 2023 Market Report
Download/view the full 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 September 2023 Market Report

Florida Townhouses and Condos August 2023 Market Report

09.22.23 by

Florida Townhouses and Condos August 2023 Market Report

Florida Townhouses and Condos real estate market report continues to show weaker sales activity when compared to last year, but is improving. The inventory numbers are growing (though not as quickly as in the previous few months), but we are facing headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were down by 7.2% compared to last month’s decrease of 9.4%.  New sales under contract (new pending sales) decreased by 11.0% (In July, there was a 4.8% decrease).

Prices were up for August compared to last year. The median sales price was up by 6.2% for August (was up by 4.6% in July). And the average sales price increased by 10.8% (was up by 3.9% in July).

The inventory of active listings increased by 30.6% from August last year.  This results in a 3.8-month supply of inventory as compared to 2.2 months for August 2022.  We remain 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.

Please click on the image or link below to download the full Florida single-family real estate market report.

Florida Townhouses and Condos August 2023 Market Report
Florida Townhouses and Condos August 2023 Market Report
Download/view the full 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 August 2023 Market Report

Jensen Beach Club Real Estate Market Report September 2023

09.02.23 by

Jensen Beach Club Real Estate Market Report September 2023

There are 2 condos for sale in the Jensen Beach Club on Hutchinson Island in Jensen Beach FL for September 2023.  The list prices are $340,000 and $469,900. This is an average list price of $404,950 which equals $371.52 per sq. ft. of living area.

There are also 2 Jensen Beach Club condos currently under contract.  The list prices were $339,000 and $449,900. This works out to an average list price of $394,450 or $350.27 per sq. ft. of living area. These condos were on the market for an average of 26 days before going under contract.

In the past 12 months, 4 Jensen Beach Club condos have sold. Sales prices ranged from $343,000 up to $420,000.  This equals an average sales price of $372,250 which is $341.52 per sq. ft. of living area. These condos were on the market for an average of 28 days before going under contract. And, they sold for an average of 97% of the list price.

Click here to view the previous Jensen Beach Club market report!

About the Jensen Beach Club on Hutchinson Island:

Jensen Beach Club on Hutchinson Island
Google Earth image

Jensen Beach Club condos for sale:

The Jensen Beach Club is a complex consisting of 9 buildings surrounding a lake on Hutchinson Island and lying on a pristine 21 acres. Located directly across the street from the Ocean at the Jensen Beach Public Beach. There are 196 condos which are all 1,090 sq. ft. of living area. They are all 2 bedrooms and 2 bathrooms with private balconies or patios. The Jensen Beach Club complex was built between 1986 and 1987 and has a community pool, clubhouse, and tennis courts. These are three-story buildings with the most desirable condos being the end units with lake views.

Recent Jensen Beach Club sales:

The Jensen Beach Club will allow up to a 25 lb. or smaller pet and rentals are also allowed with some restrictions. The maintenance fee includes the insurance and maintenance for the building exterior as well as the common areas, pest control, management, and water, and sewer charges.

There are two designated parking spots for each unit and ample guest parking as well. Jensen Beach Club residents enjoy the convenience of having ocean access just across the street. And, also being a short drive or bicycle ride to restaurants, shopping, and the wonderful amenities of Jensen Beach and Martin County FL. All at a very affordable price.

Jensen Beach Club on Hutchinson Island

Search for available Jensen Beach Club Condos here.

Jensen Beach Club condos for sale

Links to all Martin County Condos on Hutchinson Island in Stuart and Jensen Beach that you may wish to consider:
Angler Cove – Beachwood Villas – Buttonwood – Dune Condominium – Fairwinds Cove – Green Turtle Cove – Hutchinson House –Indian River Plantation Condos – Islander 12 – Jensen Beach Club – Little Ocean Club – Little Ocean Place – Maritimes – Ocean View –Sailfish Point – Sandpebble – Seaside – Suntide

Recent market reports:

For more Stuart Florida area real estate information contact Nicole Bertke or search for properties at PineappleGroupFL.com

Please click on this link for the latest market reports for Martin County, Saint Lucie County, and the State of Florida.

Jensen Beach Club Real Estate Market Report September 2023

Martin County Townhouses and Condos 2023 2nd Quarter Report

09.01.23 by

Martin County Townhouses and Condos 2023 2nd Quarter Report

Click the image below to view the full details of the Martin County Townhouses and Condos Quarterly Report as reported by Florida Realtors.

Martin County Townhouses and Condos 2023 2nd Quarter Report
Martin County Townhouses and Condos 2023 2nd Quarter Report

For the Martin County townhouses and condos real estate market, a continued trend of reduced sales volume.  Prices were sharply higher than last year.  Along with the rising interest rates, this is not a good sign for the future. I doubt that we will see any improvement in this market until rates begin to recede.

Click here to view/download the full report

View the entire set of data at GabeSanders.com

See previous Martin County quarterly reports

Martin County Townhouses and Condos 2023 2nd Quarter Report

Florida Townhouses and Condos 2023 2nd Quarter Report

08.30.23 by

Florida Townhouses and Condos 2023 2nd Quarter Report

Click the image below to view the 2023 2nd Quarter Report as reported by Florida Realtors.

Florida Townhouses and Condos 2023 2nd Quarter Report

For the 2nd quarter of 2023, the Florida townhouse and condo real estate market continued the trend of reduced sales volume. Prices appear to have moderated and mostly unchanged for this quarter. Inventory is continuing to increase, but it is not bringing in more buyers to date mainly due to the currently high interest rates.  I doubt that we will see any improvement in this market until rates begin to recede.

Click here to view/download the full report

View previous Florida quarterly reports here.

View the entire set of data at GabeSanders.com

Florida Townhouses and Condos 2023 2nd Quarter Report

Florida Single Family Homes 2023 2nd Quarter Report

08.29.23 by

Florida Single Family Homes 2023 2nd Quarter Report

Click the image below to view the full details of the 2023 1st quarter single-family home market report as reported by Florida Realtors.

Florida Single Family Homes 2023 2nd Quarter Report

For the 2nd quarter of 2023, Florida single-family homes continued the trend of reduced sales volume. Prices appear to have stopped rising and are mostly unchanged for this quarter. Inventory is continuing to increase, but it is not bringing in more buyers to date mainly due to the currently high interest rates.  I doubt that we will see any improvement in this market until rates begin to recede.

Click here to view/download the full report

View the entire set of data at the GabeSanders.com market data page.

Click here to view the previous Florida quarterly market reports

Florida Single Family Homes 2023 2nd Quarter Report

Florida Townhouses and Condos July 2023 Market Report

08.28.23 by

Florida Townhouses and Condos July 2023 Market Report

Florida Townhouses and Condos real estate market report continues to show weaker sales activity when compared to last year, but is improving. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were down by 9.4% compared to last month’s decrease of 11.0%.  New sales under contract (new pending sales) decreased by 4.8% (In June, there was an 3.6% decrease).

Prices were up slightly for July compared to last year. The median sales price was up by 4.6% for July (was unchanged at 0.0% in June). And the average sales price increased by 3.9% (was down 1.9% in June).

The inventory of active listings increased by 71.4% from July last year.  This results in 3.6 months supply of inventory as compared to 2.1 months for July 2022.  We remain 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.

Please click on the image or link below to download the full Florida single-family real estate market report.

Florida Townhouses and Condos July 2023 Market Report
Download/view the full 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 July 2023 Market Report

Harbour Pointe Real Estate Market Report August 2023

08.12.23 by

Harbour Pointe Real Estate Market Report August 2023

For August 2023, there is 1 home for sale in Harbour Pointe in Palm City FL. The list price is $710,000 which is $325.99 per square foot of living area.

There are no Harbour Pointe homes currently under contract.

7 Harbour Pointe homes have sold in the past 12 months. Sales prices ranged from $537,000 up to $720,000.  This is an average sales price of $661,000 which is $291.89 per square foot of living area.  These homes sold for an average of 98% of the list price. And, they averaged 47 days on the market before going under contract.

Click here to view the previous Harbour Pointe market report!

About Harbour Pointe in Palm City FL:

Harbour Pointe in Palm City FL
Image courtesy of Google Earth

Harbour Pointe homes for sale:

Harbour Pointe is a gated community of 120 homes in Palm City Florida.  This small and private community features modern homes with open floor plans that have many of the amenities that home buyers have sought after with an ideal location that is the envy of many in Martin County!  Residents enjoy preserve and lake views in spacious custom-designed homes.

Harbour Pointe in Palm City FL

Recent Harbour Pointe sales:

This wonderful residential community is close to Palm City Elementary, Hidden Oaks Middle School and Martin County High School, which are among the ‘A-rated schools of Martin County.  Also close to shopping, restaurants as well as the beaches of Martin County as well as easy access to I-95 and Florida’s Turnpike make it a commuter’s dream!

Harbour Pointe in Palm City Entrance

Currently Available Homes in Harbour Pointe

Harbour Pointe in Palm City FL home search

For more information about this and other Martin County communities contact:
Gabe Sanders

Palm City Florida Real Estate

Residential Homes, Condos and Land with special emphasis on Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Harbour Pointe Real Estate Market Report August 2023

 

Florida Townhouses and Condos June 2023 Market Report

07.21.23 by

Florida Townhouses and Condos June 2023 Market Report

Florida Townhouses and Condos real estate market report continues to show weaker sales activity when compared to last year, but is improving. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were down by 11.0% compared to last month’s decrease of 14.1%.  New sales under contract (new pending sales) decreased by 3.6% (In May, there was an 11.9% decrease).

Prices were mostly flat or lower for June with little changes from last year. The median sales price was unchanged for June (was up by 0.9% in May). And the average sales price decreased by 1.9% (was down 1.9% in May).

The inventory of active listings increased by 40.5% from June last year.  This results in 3.6 months supply of inventory as compared to 1.9 months for June 2022.  We remain 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.

Please click on the image or link below to download the full Florida single-family real estate market report.

Florida Townhouses and Condos June 2023 Market Report
Download/view the full 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 June 2023 Market Report

Florida Townhouses and Condos May 2023 Market Report

06.23.23 by

Florida Townhouses and Condos May 2023 Market Report

Florida Townhouses and Condos real estate market report continue to show weaker sales activity when compared to last year, but is improving. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were down by 14.1% compared to last month’s decrease of 26.8%.  New sales under contract (new pending sales) decreased by 11.9% (In April, there was an 18.1% decrease).

Year-to-year prices were mixed. The median sales price was up by 0.9% (was up by 4.8% in April). And the average sales price decreased by 1.9% (was up 1.1% in April).

The inventory of active listings increased by 72.4% from May last year.  This results in 3.6 months supply of inventory as compared to 1.5 months for May 2022.  We remain 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.

Florida Townhouses and Condos May 2023 Market Report
Download/view the full 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 May 2023 Market Report

Martin County Townhouses and Condos 2023 1st Quarter Report

05.27.23 by

Martin County Townhouses and Condos 2023 1st Quarter Report

Click the image below to view the full details of the Martin County Townhouses and Condos Quarterly Report as reported by Florida Realtors.

Martin County Townhouses and Condos 2023 1st Quarter Report

For the Martin County townhouses and condos real estate market, a continued trend of reduced sales volume.  Prices were mixed for the quarter and the inventory is continuing to increase, but it is not bringing in more buyers to date.  Compared to the other areas I track; the Martin County single-family real estate market still outperforms most areas locally and nationwide. I doubt we will see any improvement until either interest rates or prices begin to go down—hopefully, both.

Click here to view/download the full report

View the entire set of data at GabeSanders.com

See previous Martin County quarterly reports

Martin County Townhouses and Condos 2023 1st Quarter Report

Florida Townhouses and Condos 2023 1st Quarter Report

05.25.23 by

Florida Townhouses and Condos 2023 1st Quarter Report

Click the image below to view the 2023 1st Quarter Report as reported by Florida Realtors.

Florida Townhouses and Condos 2023 1st Quarter Report

For the 1st quarter of 2023, the Florida townhouse and condo real estate market continued the trend of reduced sales volume. Prices are still rising, though at a reduced rate from previous reports. Inventory is continuing to increase, but it is not bringing in more buyers to date.  I doubt that we will see any improvement until either interest rates or prices begin to go down.  Hopefully, both.

Click here to view/download the full report

View previous Florida quarterly reports here.

View the entire set of data at GabeSanders.com

Florida Townhouses and Condos 2023 1st Quarter Report

Florida Single Family Homes 2023 1st Quarter Report

05.24.23 by

Florida Single Family Homes 2023 1st Quarter Report

Click the image below to view the full details of the 2023 1st quarter single-family home market report as reported by Florida Realtors.

Florida Single Family Homes 2023 1st Quarter Report

For the 1st quarter of 2023, Florida single-family homes continued the trend of reduced sales volume. Prices are still rising, though at a reduced rate from previous reports. Inventory is continuing to increase, but it is not bringing in more buyers to date.  I doubt that we will see any improvement until either interest rates or prices begin to go down.  Hopefully, both.

Click here to view/download the full report

View the entire set of data at the GabeSanders.com market data page.

Click here to view the previous Florida quarterly market reports

Florida Single Family Homes 2023 1st Quarter Report

Florida Townhouses and Condos April 2023 Market Report

05.19.23 by

Florida Townhouses and Condos April 2023 Market Report

Florida Townhouses and Condos real estate market report continue to show weaker sales activity when compared to last year. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were down by 26.8% compared to last month’s decrease of 23.5%.  New sales under contract (new pending sales) decreased by 18.1% (In March, there was a 19.3% decrease).

Year-to-year prices were higher. However, the rate of price increases has moderated which may indicate better future affordability. The median sales price was up by 4.8% (was up by 3.9% in March). And the average sales price increased by 1.1% (was up 1.1% in March).

The inventory of active listings increased by 97.4% from April last year.  This results in 3.5 months supply of inventory as compared to 1.3 months for April 2022.  We remain 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.

Florida Townhouses and Condos April 2023 Market Report
Download/view the full 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 April 2023 Market Report

Coral Lakes Real Estate Market Report May 2023

05.12.23 by

Coral Lakes Real Estate Market Report May 2023

For May 2023, there are no homes available for sale in Coral Lakes in Stuart FL.

There are also no Coral Lakes homes currently under contract.

5 Coral Lakes homes have sold in the past 12 months.  These homes sold for prices ranging from $450,000 up to $729,000.  This equals an average sales price of $590,400 which works out to $288.97 per sq. ft. of living area. These homes were on the market for an average of 56 days before going under contract. And, they sold for an average of 99% of the list price.

Click here to view previous Coral Lakes market reports!

About Coral Lakes in Stuart FL:

Coral Lakes real estate in Stuart Florida
Google Earth image

The gated Stuart FL community of Coral Lakes is off Willoughby Blvd between Pomeroy Street and Salerno Road.  Communities like this are no longer being developed in most centrally located areas as all of the lots are a minimum of a ½ acre and a number are over an acre.

Coral Lakes real estate in Stuart Florida
Google Earth image

There are just under 100 homesites in Coral Lakes with the first homes built in 1980 and the most recently completed one in 2005.  Homes come in all sizes and shapes with different builders and range from just over 1,600 sq. ft. 2 bedrooms and 2 bathrooms homes up to over 4,500 sq. ft. homes with 5 bedrooms and 4 bathrooms and multi-car garages.

Recently sold Coral Lakes homes:

Other than a storage lot for boats, RVs, and trailers there are no additional amenities in Coral Lakes and the low HOA fee covers maintenance of the common areas, gates, and management.  Many homes have private pools in these spacious single-family home sites as well as other much-desired amenities.

Coral Lakes real estate in Stuart Florida
Google Earth image

The location makes it easy for residents of Coral Lakes to commute via I-95 to parts north or south of Martin County and yet still be close to shopping, restaurants, medical facilities, beaches and waterways, and the other great attractions that make Stuart FL so popular among families.

Coral Lakes real estate in Stuart FL

Currently, children attend Pinewood Elementary, Dr. David L. Andersen Middle, and Martin County High Schools.

Coral Lakes real estate in Stuart FL
Coral Lakes real estate in Stuart FL
Coral Lakes real estate in Stuart FL

Check here to see which Coral Lakes homes are available for sale.

Search for Coral Lakes real estate in Stuart FL

For more Stuart Florida area real estate information contact Nicole Bertke or search for properties at PineappleGroupFL.com

Please click on this link for the latest market reports for Martin County, Saint Lucie County, and the State of Florida.

Coral Lakes Real Estate Market Report May 2023

Florida Townhouses and Condos March 2023 Market Report

04.22.23 by

Florida Townhouses and Condos March 2023 Market Report

Florida Townhouses and Condos market report continue to show weaker sales activity when compared to last year. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were down by 23.5% compared to last month’s decrease of 30.2%.  New sales under contract (new pending sales) decreased by 19.3% (In February, there was a 24.2% decrease).

Year-to-year prices were higher. However, these price increases have moderated which may indicate future increased activity. The median sales price was up by 3.9% (was up by 8.6% in February). And the average sales price increased by 1.1% (was up 2.9% in February).

The inventory of active listings increased by 107.6% from March last year.  This results in 3.4 months supply of inventory as compared to 1.2 months for March 2021.  We remain 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.

Florida Townhouses and Condos March 2023 Market Report
Download/view the full 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 March 2023 Market Report