AUSTIN – Condos are a hot commodity in Austin—and the rest of Texas—says a new report from the Texas Association of Realtors.
The recently released Texas Condos Sales Report
shows that condo and townhome sales in Texas exceeded $5.4 billion between August 2016 and July 2017.
Individually, condo sales saw an 8.6 percent increase, while townhomes saw a 5.1 percent increase during the time period.
From August 2016 to July 2017, sales increased 13.2 percent, to 3,302 sales.
The sales dollar volume grew almost 20 percent, to just over $1 billion, accounting for nearly one-third of statewide condo sales dollars—the highest in the state.
While townhome sales in the Austin metro grew by 7.9 percent, the area had the lowest sales volume among metros studied.
Austin has the highest median condo price in the state, at $255,000.
The median price for an Austin townhome actually declined 4 percent, to $235,000 in July 2017.