The number of Townhouse-Condominiums sold in March of this year are down 7.1% from a year ago with the overall number of home sales fairly flat from a year ago, according to the latest numbers provided from Florida Realtors.
Looking at Florida’s townhouse-condo market, statewide closed sales totaled 10,076 last month, down 7.1 percent compared to March 2015 with 23,758 homes sold, about .6% below the 2015 number
“Many Florida homeowners have been able to rebuild home equity due to strong price growth, but that can also pose a challenge for first-time buyers and move-up buyers,” said Florida Realtors President Matey H. Veissi, “However, new listings rose in March, which is good news for potential buyers. New listings for existing single-family homes rose 5.6 percent compared to a year ago while new listings for townhouse-condo properties are up 2.6 percent.”
Meanwhile, sellers received more of their original asking price at the closing table. Sellers of existing single-family homes in March received 95.8 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.5 percent (median percentage).
The statewide median sales price for single-family existing homes last month was $209,500, up 10.3 percent from the previous year, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in March was $155,000, up 3.3 percent over the year-ago figure.
March marked 52 months in a row that statewide median sales prices for both single-family homes and for townhouse-condo properties rose year-over-year. The median is the midpoint; half the homes sold for more, half for less.