Condo values outpaced single-family home prices in Houston by nearly 5 percent during the third quarter. According to a report from Zillow, the median price of a condo rose by 13.6 percent year-over-year during the quarter. In comparison, the median price of a single-family home appreciated by 9 percent during the same period. Of the 35 most populous cities, only Dallas-Fort Worth (20.1 percent) and Denver (19.7 percent) experienced larger year-over-year rises in condo values. Houston's condo market remains an affordable one despite the nearly 14 percent rise in values. The city's median price of $108,900 represents the lowest condo price among the nation's 18 largest markets. When expanded to include the 35 largest markets Houston has the sixth lowest condo price. "Condos increasingly represent a strong-performing, often affordable choice, particularly for first-time buyers interested both in homeownership and in keeping a lower-maintenance, city lifestyle," said Sve...
- Only two markets nationally experienced larger year-over-year condo appreciation.
- The median condo or single-family home is affordable in Houston compared to other cities.
- Of the 35 most populous cities, Houston ranked third in terms of condo appreciation.
Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York