May Townhouse & Condo Sales Highest Y T D

While townhouse and condo sales are down compared to May of last year, May sales in this category were the highest so far in 2009.

Townhouse/Condo Update

The number of townhouses and condominiums sold in May fell compared to one year earlier. In the greater Houston area, 399 units were sold last month versus 618 properties in May 2008, translating to a 35.4 percent decrease in year-over-year sales. However, that still represents the highest sales volume for all of 2009.

The average price of a townhouse/condominium fell to $156,907, down 11.1 percent from one year earlier. The median price declined 18.7 percent to $125,950 from May 2008 to May 2009.

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