Condo sales lead Texas housing growth in first half 2014
TEXAS – Condominiums and townhomes were the fastest-growing segment of the Texas housing market during the first half of 2014, according to the 2014 Texas Condominium Mid-Year Sales Report.
Austin, Dallas, Houston, and San Antonio experienced an average 10.5 percent jump in condo sales between January and May 2014.
The resurgence of the urban centers of Texas’ largest cities has led to an increase in condo development across the state.
“There is little available land for housing development in Texas’s major metro areas, particularly in its urban centers where housing demand is strongest. Condo sales will likely be a strong driver in the Texas housing market for the rest of 2014,” said Dr. Jim Gaines, economist with the Real Estate Center at Texas A&M University.
Here’s how the major metro areas measured up from January – May 2014, compared with the same period in 2013:
| Austin | Dallas | Houston | San Antonio | |||||
| Category |
Jan.-May 2014 |
Chg. from 2013 |
Jan.-May 2014 |
Chg. from 2013 |
Jan.-May 2014 |
Chg. from 2013 |
Jan.-May 2014 |
Chg. from 2013 |
| Homes sold | 1,349 | 14% | 2,383 | 4% | 2,678 | 6% | 271 | 18% |
| Median price | $214,480 | 11% | $160,000 | 4% | $145,000 | 6% | $105,300 | 9% |
| Average price | $365,820 | 9% | $207,157 | 5% | $194,009 | 7% | $140,273 | 5% |
| Avg. days on market | 47 | -24% | 62 | -15% | 55 | -16% | 95 | -15% |
Read more at the Texas Association of Realtors. For more information on Texas real estate, check out any MSA’s Market Data Sources.
You might also like
TG Magazine
Check out the latest issue of our flagship publication.