April<\/a>, prices fell in all three Treasure Coast counties.<\/p>\nPrices dip<\/p>\n
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:<\/p>\n
Martin:\u00a0$250,000, down from $265,000<\/p>\n
St. Lucie:\u00a0$299,500, down from $320,000<\/p>\n
Indian River:\u00a0$270,000, up from $220,000<\/p>\n
Sales rise<\/p>\n
The number of townhouses and condos sales increased in all three Treasure Coast counties in May compared to last year:<\/p>\n
St. Lucie:\u00a099, up from 76<\/p>\n
Indian River:\u00a099, up from 79<\/p>\n
Fewer listings<\/p>\n
The number of townhouses and condos on the market decreased in all three Treasure Coast counties in May compared to last year:<\/p>\n
Martin:\u00a0576, down from 730<\/p>\n
St. Lucie:\u00a0692, down from 863<\/p>\n
Indian River:\u00a0681, down from 837<\/p>\n
Buyer’s market<\/p>\n
The benchmark for a balanced market \u2014 favoring neither buyers nor sellers \u2014 is 5\u00bd 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:<\/p>\n
Martin:\u00a06.5 months, down from 9.6 months<\/p>\n
St. Lucie:\u00a08.6, down from 12.1<\/p>\n
Indian River:\u00a08.7, down from 13.3<\/p>\n
Longer time to contract<\/p>\n
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:<\/p>\n
Martin:\u00a078 days, up from 71 days<\/p>\n
St. Lucie:\u00a081, up from 60<\/p>\n
Indian River:\u00a099, up from 94<\/p>\n
Jack Randall is TCPalm’s economy and real estate reporter. You can reach him at jack.randall@tcpalm.com.<\/p>\n
This article originally appeared on Treasure Coast Newspapers: Condo prices fall in Florida real estate market as inventory drops<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Prices for condominiums and townhouses continue to slide downward across the Treasure Coast. Median sale price for condominiums…\n","protected":false},"author":2,"featured_media":324456,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[17981,12189,134249,171,173,172,14458,179],"class_list":["post-324455","post","type-post","status-publish","format-standard","has-post-thumbnail","category-port-st-lucie","tag-indian-river","tag-indian-river-county","tag-martin-counties","tag-port-st-lucie","tag-port-st-lucie-headlines","tag-port-st-lucie-news","tag-st-lucie","tag-treasure-coast"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/324455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=324455"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/324455\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/324456"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=324455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=324455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=324455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}