Prices for condominiums and townhouses slid down across the Treasure Coast in April.
The median sale price for condominiums and townhouses fell in Indian River, St. Lucie and Martin counties compared to April 2025, according to a TCPalm analysis of local Realtor data.
The number of condominiums and townhouses on the market fell in all three Treasure Coast counties. But this, however, could lead to prices rebounding, according to Realtor data.
“Condo inventory is declining year-over-year, which will put upward pressure on prices,” said Miami Realtors spokesperson Chris Umpierre in a statement.
Fannie Mae and Freddie Mac are eliminating the limited review option for many condo loans beginning Aug. 3.
Limited review is a streamlined approval process that allow transactions to move forward with less scrutiny of the building’s financial health, according to a summary by Capital Realty Group. Going forward, most condo purchases will require a full project review.
Condos in financially well-managed buildings will likely sell faster and for higher prices, Capital Realty Group predicts.
Buyers have had difficulty financing condos, Umpierre said, especially in South Florida.
“For decades, Florida condominium borrowers and owners faced stricter lending standards and higher financing hurdles than those in many other states,” Umpierre said. “The updated guidelines are expected to create a more transparent and financially secure lending environment.”
Median sale prices
The median sale price for townhouses and condos fell in all three Treasure Coast counties in April compared to last year:
Closed sales
The number of townhouses and condos sold increased in Martin and Indian River counties and decreased in St. Lucie County in April compared to last year:
Active listings
The number of townhouses and condos on the market decreased in all three Treasure Coast counties in April compared to last year:
Months of inventory
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 April compared to last year:
Time to contract
The median time between a seller listing their unit and signing a contract was shorter in St. Lucie and Indian River counties and longer in Martin County in April compared to last year:
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: Florida condo market is tumbling but is due for a rebound. Here’s why
Reporting by Jack Randall, Treasure Coast Newspapers / Treasure Coast Newspapers
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