The Florida real estate landscape presents a mixed but potentially stabilizing picture, with the Treasure Coast’s condo market showing signs of a rebound while discussions continue around home prices in areas like Fort Myers. While some national reports have painted a grim picture of falling home values, local data suggests a more nuanced reality.
Key Takeaways
- St. Lucie County’s condo and townhouse median sale prices have increased, bucking a slight downward trend in neighboring counties.
- Closed sales for condos and townhouses rose across all three Treasure Coast counties in March compared to the previous year.
- Active listings for condos and townhouses have decreased across the Treasure Coast, indicating a tighter market.
- Lee County’s median home list price remained flat month-over-month but saw a year-over-year decrease.
- Experts emphasize that list prices differ from actual home values determined by closed sales, and the market is undergoing a correction rather than a crash.
Treasure Coast Condo Market Resilience
In St. Lucie County, the median sale price for townhouses and condominiums saw a significant rebound in March, increasing by approximately 31% from February and 4% compared to March 2025, reaching $327,500. This contrasts with slight decreases in Indian River County (0.2%) and Martin County (2.8%) over the same period. Despite these minor price fluctuations, the overall market remains active, with deals continuing to occur.
Closed sales for townhouses and condos saw a notable increase in all three Treasure Coast counties in March compared to the previous year. Martin County experienced a rise from 94 to 134 sales, Indian River County saw an increase from 62 to 115, and St. Lucie County moved from 94 to 99 sales. Concurrently, active listings decreased across all three counties, suggesting a tightening inventory.
The months of inventory, a key indicator of market balance, also showed a trend away from a buyer’s market. Martin County’s inventory dropped from 10 months to 7.3 months, St. Lucie from 11.7 to 9.3 months, and Indian River from 14.2 to 10.1 months. The time to contract also varied, with Indian River County seeing a significant decrease in days to contract, while Martin and St. Lucie counties experienced a slight increase.
Fort Myers and Southwest Florida Market Dynamics
In Lee County, the median home list price stood at $399,900 in March, unchanged from the previous month. However, this figure represents a 9.1% decrease from March 2025’s median list price of $439,900. Homes in Lee County spent a median of 77 days on the market, slower than the national median. New listings also saw a decrease of 17.8% compared to March 2025.
Experts in Southwest Florida characterize the current market as a "correction" following the pandemic-era boom, rather than a crash. While median home prices saw significant increases between 2020 and 2022, they have experienced modest declines in the past three years. Some analysts suggest that the steepest part of the downturn may have passed, though buyer’s market conditions could persist.
Despite some national reports highlighting falling home values and rising foreclosures in Florida, real estate professionals emphasize the distinction between list prices and actual sales prices. Data from the Florida Realtors association indicates that closed sales and average sale prices have shown increases, and distressed property sales remain a small fraction of the overall market. The market is described by some as returning to a more normal, balanced state compared to the pre-COVID era.
Sources
- Florida real estate market for condos may rebound here, Treasure Coast News.
- See the unchanged median price for March home listings in Lee County, The News-Press.
- Is the Florida housing market ‘plummeting’ or holding steady?, Daytona Beach News-Journal.
- Real estate market trends in 2026 for Southwest Florida | Real Estate, Gulfshore Business.
- Some say Florida home values are falling. Here’s what the facts show., Daytona Beach News-Journal.