Sales of condos and townhomes in Texas fell slightly from July 2018 to June 2019, according to the Texas Condominium Sales Report released today by Texas REALTORS®. Condo sales fell 8.4% to 13,118 during this time period, and Townhome sales fell 2.7% to 8,849.
The number of condos on the market increased 0.6 months to 5.1 months worth of inventory at the current rate of sales, and townhome inventory rose 0.9 months to 5.4 months. The total dollar volume of condos and townhomes sold between July 2018 and June 2019 was $5,504,751,660, with $3,224,612,082 in condo sales and $2,280,139,578 in townhome sales. In the first six months of 2019, condos spent an average of 69 days on the market. Townhomes spent an average of 63 days on the market.
“Condominiums and townhomes remain a popular choice for Texas buyers because they often have a lower price compared to single-family homes,” said Tray Bates, chairman of Texas REALTORS®. “Also appealing is the decreased maintenance, and they oftentimes offer a closer commute to work, schools and city life. Whether you’re a native Texan relocating from another city, or a new Texan from out of state, there’s a wide variety of these types of properties being made available.”