Condominiums and townhomes are an increasingly popular option among Texas residents, according to the 2021 Texas REALTORS® Condominium Sales Report. They provide many amenities, low upkeep, and are often close to urban areas. These housing options prove to be a good fit for Texas residents who may not prefer single-family homes, such as retirees, entry-level homebuyers, and young professionals.
Both condominium and townhome sales across the state increased between July 2020 and June 2021. Condominium sales increased by 41% to 17,152 sales, and townhome sales rose 36.4% to 11,508 sales. Median prices for both types of property also increased, with the median condominium sales price increasing 24% to $240,000 in June 2021, and townhome median prices rising 18.7% from last June to $285,000.
The number of days these kinds of property were on the market decreased. The average number of days on market for condominiums in Texas dropped from 71 days to 48 days within the last year, and the average number of days townhomes were on the market also dropped, going from 63 days to 36 days.
For more information, download the 2021 Texas REALTORS® Condominium Sales Report.