Texas single-family home sales have been steadily increasing all year, but the Texas Condo Market has been just as Hot, according to the 2013 Texas Condominium Sales Report. Texas Association of REALTORS® released a report recently showing double-digit growth in condo and townhome sales in Texas’s four major markets for Dallas, Houston, Austin, and San Antonio.
According to this report, Dallas, Houston, Austin, and San Antonio experienced an average of 26 percent jump in condo sales between January and September 2013. Individually, Dallas showed an increase of 38 percent, followed by Houston with 25 percent, Austin at 24 percent, and San Antonio coming in at 18 percent.
Trends during this time period mirrored those of single family home sales across Texas, with double-digit decreases in Active Listings, and days on the market, but moderate increases in median and average price.
The following are the 2013 Texas Condo Sales Statistics, January through September for San Antonio, TX only.
* Total Condos Sold - 469- an 18 percent increased compared to last year.
* Median Price for Condos - $98,900- a six percent increase from 2012.
* Average Sales Price for Condos - $159,776 - a 11 percent increase from 2012.
* Average price per square foot for Condos - $126 - 15 percent more from 2012.
* Average Days on the market for Condos - 113 - 23 percent fewer than last year.
* Total New Condo Listings on the market - 776 - three percent fewer than 2012.
* Average Active Condo Listings on the market - 379 - 22 percent fewer than 2012.
* Total Pending Condo Sales - 415 - 11 percent increase compared to 2012.
For a Full Report of all the major markets see 2013 Texas Condominium Sales Report.
“Inventory for both single family homes and condos are still at an all-time low for Texas”, stated Jim Gaines, Ph.D., economist with the Real Estate Center at Texas A&M University, “but the development of new condos and townhomes has lagged behind that of single-family homes through the housing recovery. As a result, we’re at least a year or two away from delivering the condos that are currently needed in Texas’s metro areas.”
Consequently, if you are in the market for a condominium or townhome, call Jerry Today at 210-789-4216, while supplies still last, or visit my website for Condos For Sale in San Antonio.