Treasure Coast Condominium and Townhome Market Faces Inventory Surge as Sales Slow
The Treasure Coast real estate market is currently experiencing a significant shift in its condominium and townhome sector. Despite a steady influx of new listings, sales continue to lag behind, creating an oversupply that is reshaping market dynamics across Indian River, St. Lucie, and Martin counties.
Inventory Floods the Market: New Listings Surpass Sales
The Treasure Coast’s condominium and townhome market is witnessing an unprecedented increase in available inventory. New property listings are consistently outnumbering sales, leading to a saturated market environment for both buyers and sellers.
- Sales Decline: The number of townhouses and condos sold in May 2025 dropped compared to April, impacting all three counties.
- Active Listings Decrease: Despite the inventory flood, the total number of actively listed properties has slightly declined month-over-month but remains significantly high.
- Median Sale Price Trends: Median prices for these properties have decreased across the Treasure Coast region, signaling a cooling market.
Median Sale Prices Dip Across Treasure Coast Counties
In May 2025, median sale prices for townhouses and condominiums showed a downward trend:
| County | Median Sale Price May | Median Sale Price April |
|---|---|---|
| Martin | $265,000 | $280,000 |
| St. Lucie | $320,000 | $339,900 |
| Indian River | $220,000 | $286,298 |
This decline underscores growing buyer leverage in negotiating prices amid rising inventory.
Closed Sales Reflect Cooling Market Activity
The volume of closed sales also dropped notably last month:
- Martin County: 84 sales (from 111 in April)
- St. Lucie County: 76 sales (from 99 in April)
- Indian River County: 79 sales (from 96 in April)
This slowdown in transactions confirms a shift toward a buyer-favorable market.
Active Listings: High Yet Slightly Reduced
While the number of active listings is still high, there was a slight reduction from April to May:
- Martin County: 730 listings (down from 773)
- St. Lucie County: 863 listings (down from 879)
- Indian River County: 837 listings (down from 916)
This minor dip may reflect sellers’ reactions to slower sales or price adjustments.
Months of Inventory Signal a Strong Buyer’s Market
Months of inventory, a key indicator of market balance, provides insight into current trends.
- A balanced market typically has about 5.5 months of inventory.
- Treasure Coast counties far exceed this, signifying a robust buyer’s market:
| County | Months of Inventory May | Months of Inventory April |
|---|---|---|
| Martin | 9.6 | 9.8 |
| St. Lucie | 12.1 | 11.8 |
| Indian River | 13.3 | 14.1 |
High inventory levels give buyers a wider selection and provide leverage to negotiate better deals.
Increasing Time to Contract Impacts Sellers
The median time from listing to contract signing has generally increased for Martin and Indian River counties indicating longer selling periods:
- Martin County: 71 days (up from 61 days in April)
- Indian River County: 94 days (up from 84 days in April)
- St. Lucie County: 60 days (down from 83 days in April)
Longer contract times may signal that sellers need to be more flexible and patient in today’s market environment.
Legislative Actions Eased Condo Owner Burdens
In response to financial pressures faced by condo owners and associations, Governor Ron DeSantis signed critical legislation on June 23, 2025, aimed at providing relief and improving compliance with statewide condo regulations:
- House Bill 913: Postpones some mandatory inspection deadlines by one year and permits condo associations to use loans or lines of credit to meet reserve requirements.
- House Bill 393: Eases approval criteria for the My Safe Florida Condo program but limits grants to association entities that have failed inspection compliance.
This legislative response addresses ongoing challenges following the 2021 Surfside Champlain Towers collapse, underscoring the importance of safety and financial stability in condominium communities.
What Homebuyers and Sellers Should Know
- For buyers: With increased inventory and falling prices, now is an opportune time to explore diverse options and negotiate attractive terms.
- For sellers: Patience and pricing strategies must align with market realities; adjusting expectations is vital given longer times to close.
- For condo owners and associations: Legislative updates offer temporary financial relief but underscore the importance of proactive inspection compliance.
Explore More About Treasure Coast Real Estate
Stay informed with up-to-date local market reports and insights from trusted real estate experts to navigate this evolving landscape effectively. For buyers considering alternatives, learn how some Floridians are opting to trade condos for houses.
Summary: The Treasure Coast townhouse and condominium market experiences a surge in inventory, coupled with declining sales and prices. Buyers benefit from a strong market advantage, while sellers face lengthier sales cycles. Recent legislative efforts aim to alleviate financial burdens on condo communities, ensuring safety and compliance as the market adjusts. Whether buying or selling, awareness of these trends is essential for making informed decisions in 2025’s dynamic real estate environment.