Townhome/Condominium Update-HAR Report
It was a slow start to the new year for the townhome and condominium market. Sales declined 25.9 percent year-over-year, with 269 units sold compared to 363 last January. The average price fell 8.6 percent to $226,343, while the median price declined 11.9 percent to $185,000, the lowest level since February 2021.
Inventory levels continued to expand, reaching a 7.6-months supply, up from 5.5 months a year earlier.