Florida Townhouses and Condos October 2016 Market Detail

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Real Estate Agent with Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales 3090099

Florida Townhouses and Condos October 2016 Market Detail

The Florida Townhouses and Condos Market Detail for October 2016 showed continued weakness as compared to last year for sales.   Closed sales were down by 12.3% as compared to last months decrease of 3.9% and new sales under contract (new pending sales) decreased by 14.5% (In September there was a 5% decrease).

Values, however, continued to increase though at a more moderate pace.  Median sales prices were up by 8.1% (was up by 6.7% in September), while the average sales price increased by 0.5% (was down 2.9% in September).  As sales activity decreases and if inventory continues to increase, I expect these prices to continue to moderate.

The inventory increased by 8.2% from October of last year.  For September 2016 we have 5.9 months of inventory (was  5.8 months in September) and compared to 5.3 for October 2015.  We are approaching a balanced market for Florida townhouse and condo sales. A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory.

Florida Townhouses and Condos October 2016 Market Detail

Click on the link below or the graphic to see the full market detail report from Florida Realtors: Click here to view or download the full report:
Florida Townhouses and Condos October 2016 Market Detail

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 October 2016 Market Detail

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All Things Florida
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Tags:
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Rainmaker
4,654,178
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Many Maryland residents are moving to Florida. They will appreciate your local market reports.

Dec 06, 2016 04:29 PM #1
Rainmaker
1,419,460
Yolanda Cordova-Gilbert
Sitterle Homes - Richmond, TX
Sitterle Homes

Gabe,

 Good market report on Florida condos and townhouses, people on both sides of the equation need to know this!

Dec 06, 2016 05:09 PM #2
Ambassador
3,612,624
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Gabe

Anyone reading this and other posts on the market in your area, and Florida in general, can see you are a valuable resource whose knowledge and guidance can help with purchasing or selling in the Stuart FL area and nearby.

Jeff

Dec 06, 2016 06:01 PM #3
Ambassador
3,490,365
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Gabe hopefully the downward trend turns around in the coming year and starts back up again.

Dec 06, 2016 06:41 PM #4
Ambassador
3,723,337
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

With the continued decreases in the market is it possible the market is being satisfied? Time will only tell, Gabe.

Dec 06, 2016 07:01 PM #5
Rainmaker
1,003,689
Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

super report to share with buyers and sellers in the local area!

Dec 06, 2016 07:16 PM #6
Rainmaker
2,487,008
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Gabe Sanders as always, a very comprehensive report for home buyers and sellers alike.

Dec 06, 2016 07:18 PM #7
Rainmaker
4,050,973
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Anyone thinking of buying a home in your area should call you to be their agent.

Dec 07, 2016 04:57 AM #8
Rainmaker
4,312,236
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks for your comments, always appreciated. 

Jan 14, 2017 06:58 AM #9
Rainmaker
4,312,236
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

For more Market Reports visit my web site at: http://www.gabesanders.com/market-stats

Jan 14, 2017 06:58 AM #10
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Rainmaker
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Gabe Sanders

Stuart Florida Real Estate
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