Episode 64 - Townhome and Condo Mkt Rep July 2025

Condo & Townhome Market Deep Dive (July 2025)

Hosts: David Vann (RE/MAX Metro) & Julie Jones (Smith & Associates)

🖨 From Printing Ink to Property Stats

David and Julie kicked things off with a lighthearted chat about printer frustrations and the luxury of HP’s ink subscription service—before pivoting into the real ink on the page: the condo and townhome market.

📉 Market Snapshot – Condos & Townhomes

• Closed Sales: 451 units — down 25% year over year
• Median Sale Price: $250,000 — down 17% from $300K
• Average Sale Price: Holding stronger, down just 1% (from $414K to $410K)
• Dollar Volume: $185M — a 26% decline from $250M last year
• Percent of Original List Price: Sellers receiving ~91%, showing an avg. 9% discount
• Time to Contract: 70 days (↑25%)
• Time to Sale: 104 days (↑14%)
• Inventory:
  • Active listings up 14%
  • Months’ supply up from 6 → 8.5 months (40% increase)

⚠️ Perfect Storm of Challenges

• Milestone inspections & condo reserve requirements
• Rising HOA fees
• Escalating insurance (homeowner & flood)
• Hurricane impacts in flood-zone properties
  Together, these factors created financial pressure and buyer hesitancy.

📊 Price Point Absorption Rates

• $1M+ condos/townhomes: 12 months’ inventory
• $600K–$1M: 14 months
• $400K–$600K: 13 months
• $300K–$400K: 8 months
• $250K–$299K: 7 months
• $100K–$150K: 6 months
• $50K–$99K: Only 4 months (fastest moving segment)

Overall average: ~8 months — a clear buyer’s market.

🏡 Townhome Focus: South County (incl. Feather Sound)

• 283 Active Listings
• 63 Pending
• 253 Sold (last 6 months) → roughly one month of absorption per 6 months of sales = solid velocity
• But 216 delisted properties (canceled, withdrawn, expired) almost matched the 253 sold.
  • 👉 A “hidden market” of overpriced or unsellable listings—critical to include in CMAs.

💡 Takeaway

The condo and townhome sector is facing headwinds from regulation, insurance, and flood risk—but townhomes in certain sub-markets show resilience. Still, delisted properties highlight the risk of overpricing in today’s environment.

👉 David and Julie’s advice: Agents and sellers must weigh sold, active, and delisted comps for a realistic valuation in this challenging market.

Want to work with us? David Vann can be found here, and Julie Jones can be found here! Reach out! We're nice, and we'd love to hear from you!