Townhouse/Condominium Update(HAR Report):
Townhouses and condominiums had another strong month of sales in February with volume surging 35.9 percent with 659 closed sales versus 485 a year earlier. With that figure likely distorted because of last year’s freeze, a comparison to February 2020 shows an increase of 40.5 percent. The average price jumped 22.4 percent to $266,366 and the median price shot up 26.8 percent to $225,000. Both are record highs. Inventory fell from a 3.1-months supply to 1.4 months.