In September 2024, the townhouse and condo market in Saint Lucie County exhibited several notable changes compared to the previous year. Closed sales for townhouses and condos stood at 74, a decrease of 15% year-over-year. Despite this drop in sales, the median sale price rose by 1.4%, reaching $319,500, suggesting a steady demand for these property types.
The active inventory for townhouses and condos increased significantly, rising by 66% to 673 available units. This boost in inventory comes even as the total dollar volume of sales experienced a slight increase of 0.6%, totaling $30.1 million.
New listings for townhouses and condos were down, with 110 new properties entering the market, marking a 17% decline from the previous year. Additionally, new pending sales dropped by 5.4%, with 70 properties going under contract in September.
Overall, the townhouse and condo market in Saint Lucie County is characterized by increased available inventory and a slight rise in median sale prices, despite declines in sales volume and new listings, which may indicate evolving dynamics in buyer preferences or broader economic factors influencing the market.