The condo market is heating up throughout all four major metro areas in Texas, according to Texas Realtors, and the high demand for the lifestyle associated with condo living is keeping the market competitive. As more millennials and young professionals make headway in the real estate market, the desire to live in a smaller space with access to nightlife and amenities grows stronger, trends show. In three of the four metros areas in the Lone Star State, condo sales increased in double digits during the first half of 2016, according to the Texas Condominium Mid-Year Sales Report by Texas Realtors. Condo and townhome sales by metro According to the report, condo sales are on the rise in Houston and prices are following suit, climbing from January to May. A total of 1,674 condos sold in Houston during the same span, which is an annual increase of 11.2 percent. Townhomes, however, haven't seen as much of an improvement. Prices are increasing for townhomes in Houston -- about 6...
- The Mid-Year Sales Report was based on data collected by The Real Estate Center at Texas A&M University to determine statewide and metro-level trends.
- There were 24.1 percent more active condo listings in Texas in the first half of 2016 than during the same time the previous year. There were 18.2 percent more active townhome listings.
- Houston's condo market saw growing sales and prices from January to May, while townhomes saw a dip in prices.
The ROI Producing Real Estate Event of the Summer
Reach top decision-makers at Inman Connect