Townhome/Condominium Update-HAR Report
Houston’s townhome and condominium market experienced a continued slowdown in May, marking the fourth consecutive month of declining sales. A total of 485 units were sold, which is a 12.9 percent decrease from the 557 units sold last May. The average price declined 5.5 percent to $265,903, while the median price dropped 8.3 percent to $221,500.
Townhome and condominium listings increased to 3,311, resulting in a 7.8-month supply of inventory. This is a significant jump compared to the 4.6-month supply reported last year at this time. Inventory levels reached their highest point since September 2011, when the supply stood at 8.0 months.