Prices for condominiums and townhouses continue to slide downward across the Treasure Coast.

Median sale price for condominiums and townhouses fell in St. Lucie and Martin counties in May from May 2025, according to a TCPalm analysis of local Realtor data.

In Indian River County, however, the media sale price increased by 22.7% from last year.

“Condo inventory is declining year-over-year, which will put upward pressure on prices,” said Miami Realtors + RWorld spokesperson Chris Umpierre in a statement.

The number of townhouses and condos on the market also is down in all three Treasure Coast counties compared to last year. Total inventory remains significantly below the pre-pandemic total, Umpierre said.

In April, prices fell in all three Treasure Coast counties.

Prices dip

The median sale price for townhouses and condos fell in Martin and St. Lucie counties and rose in Indian River County in May, compared to last year:

Martin: $250,000, down from $265,000

St. Lucie: $299,500, down from $320,000

Indian River: $270,000, up from $220,000

Sales rise

The number of townhouses and condos sales increased in all three Treasure Coast counties in May compared to last year:

St. Lucie: 99, up from 76

Indian River: 99, up from 79

Fewer listings

The number of townhouses and condos on the market decreased in all three Treasure Coast counties in May compared to last year:

Martin: 576, down from 730

St. Lucie: 692, down from 863

Indian River: 681, down from 837

Buyer’s market

The benchmark for a balanced market — favoring neither buyers nor sellers — is 5½ months of inventory. Anything higher is considered a buyer’s market, and anything lower is a seller’s market. All three Treasure Coast counties leaned less toward a buyer’s market for townhouses and condos in May compared to last year:

Martin: 6.5 months, down from 9.6 months

St. Lucie: 8.6, down from 12.1

Indian River: 8.7, down from 13.3

Longer time to contract

The median time between a seller listing their unit and signing a contract was longer in all three Treasure Coast counties in May compared to last year:

Martin: 78 days, up from 71 days

St. Lucie: 81, up from 60

Indian River: 99, up from 94

Jack Randall is TCPalm’s economy and real estate reporter. You can reach him at jack.randall@tcpalm.com.

This article originally appeared on Treasure Coast Newspapers: Condo prices fall in Florida real estate market as inventory drops