Texas condominium sales between July 2020 and June 2021 increased 41 percent to 17,152 sales, and townhome sales increased 36.4 percent to 11,508 sales when compared to the previous period, according to the 2021 Texas Realtors® Texas Condominium Sales Report.
“This rapid uptick of condo and townhome sales is another great example of demand for Texas real estate. The market for these types of properties is as competitive as ever and is another strong real estate option for those who wish to live in Texas,” said Marvin Jolly, chairman of Texas Realtors®. “Condos and townhomes are available at multiple price points and can be a great option for many entry-level homebuyers, young professionals or retirees looking for a lock-and-leave lifestyle.”
Median price also increased among these homes. The median statewide condominium sales price in June 2021 was $240,000, a 24 percent increase over June 2020, and the median townhome sales price was $285,000, an 18.7 percent increase over June 2020. The average price per square foot hit $247 for condominiums and $170 for townhomes.
“Many buyers choose these types of properties for their proximity to urban areas, added amenities and low upkeep,” said Jolly. “Those and other characteristics make condos and townhomes an appealing choice to people who may not be interested in a single-family home. A Texas Realtor can help buyers navigate the competitive market and provide guidance on these types of properties.”