Texas condo, townhome sales increase, prices rise
AUSTIN – Both condominium and townhome sales increased year over year in June 2021, according to Texas Realtors’ Texas Condominium Sales Report.
Condo sales increased 41 percent to 17,152 sales, while townhomes grew 36.4 percent to 11,508 sales.
From June 2019, condo and townhome sales increased 30.8 and 30.0 percent, respectively.
Total dollar volume for condos and townhomes sold in Texas during the year ending June 2021 was $5.07 trillion and $3.42 trillion, respectively.
Sales price increased for both property types. Statewide, the year-to-date median sales price was $240,000 for condos (24 percent annual increase) and $285,000 for townhomes (18.7 percent increase).
The average price per sf in June 2021 was $247 for condominiums and $170 for townhomes.
Texas condo inventory decreased from 5.1 months in June 2020 to 2.2 months in June 2021. Townhome inventory fell from 4.2 to two months. The Texas Real Estate Research Center considers six to 6.5 months of inventory a balanced market.
Condos spent an average of 48 days on the market in June 2021, down from 71 days. Days on market for townhomes fell from 63 days to 36.
The Texas Real Estate Research Center has more housing news online for free:
You might also like
TG Magazine
Check out the latest issue of our flagship publication.