“This rapid surge in condominium and townhouse sales is another great example of the demand for Texas Property. The market for this type of property remains competitive and is another strong real estate option for those looking to live in it Texas,” called Marvin Jolly, Chairman of Texas Realtors. “Condos and townhouses come in a variety of price ranges and can be a great option for many entry-level, young professionals, or retirees looking for an out-of-the-way lifestyle.”
The median price rose for both condominiums and townhouses. Nationwide, the average sales price for condominiums is in June 2021 was $ 240,000, compared to an increase of 24% June 2020. The average selling price for townhouses was $ 285,000 in June 2021, an increase of 18.7% over the previous June. The average price per square meter in June 2021 achieved $ 247 for condominiums and $ 170 for row houses.
Housing inventory for Texas Condominiums fell from 5.1 months of inventory in June 2020 up to 2.2 months in June 2021, while the number of terraced houses decreased from 4.2 to 2.0 months. Texas Condos spent an average of 48 days on the market in June 2021 – up from 71 days in June 2020 – while townhouses rose from 63 to 36 days.
The total dollar amount of condos and townhouses sold in the Texas between July 2020 and June 2021 summed up $ 5,067,334,976 in the sale of condominiums and $ 3,423,466,353 when selling townhouses.
Jolly concluded, “Many buyers choose this type of property because of its proximity to urban areas, added amenities, and low maintenance. These and other properties make condos and townhouses attractive choices for people who may not be interested in a single family home. A Texas Realtor can help buyers navigate the competitive market and provide advice on these types of properties. “
About the Texas Condo Sales Report
The data for the Texas Condominium Sales Report is provided by the Data Relevance Project, a partnership between Texas REALTORS® and local REALTOR® associations across the state. The data analysis is provided by the Texas Real Estate Research Center at Texas A&M University. The report analyzes condominium and townhouse sales data July 2020 by June 2021 for the Austin, Dallas-Fort Worth, step, Houston, McAllen and San Antonio Metropolitan Statistical Areas. Property sales that occur outside of an MLS are not included in the report. To view the full report, visit texasrealestate.com.
About Texas REALTORS®
With more than 140,000 members, Texas REALTORS® is a professional membership organization representing all aspects of the real estate industry Texas. We are the lawyers for REALTORS® and private property rights in Texas. Visit texasrealestate.com to learn more.
Contact: Morgan Moritz, [email protected]
SOURCE Texas Broker
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