Townhouse/Condominium Update
Sales of townhomes and condominiums rose in August, with or without the “Harvey effect.” The traditional full-month comparison shows that 665 units sold versus 465 a year earlier, accounting for a 43.0 percent increase.
When isolating the August 1 - 24 time period, sales rose 12.3 percent year-over-year, with 457 units sold in 2018 compared to 407 one year earlier. The average price increased 5.4 percent to $207,185 and the median price rose 3.3 percent to $164,240. Inventory declined slightly from a 4.4-months supply to 4.3 months.