Townhouse/Condominium Update(HAR Report):
Sales of townhouses and condominiums increased for the ninth straight month in May, rocketing 103.4 percent with 840 closed sales versus 413 a year earlier. The average price rose 15.7 percent to $238,839 – the second highest average price of all time -- and the median price climbed 21.7 percent to a record-setting $213,000. Inventory fell from a 4.4-months supply to 2.6 months.