Townhomes & Condos: Inventory Swells as Prices Dip

What the data shows

HAR’s September update revealed that townhome and condo sales increased 4.0% year over year, totaling 414 units. Despite the uptick in transactions, the median price fell 4.4% to $230,000 and the average price dropped 4.9% to $273,890. Inventory swelled 31.9% to 3,428 units, widening months of supply to 8.2—up from 5.7 last year. More supply gives buyers negotiating leverage and signals that sellers need to stand out.

• First-time buyers: Condos and townhomes often come with lower price points and maintenance-free living. Review HOA fees and rules to ensure they align with your lifestyle.

• Sellers: Price realistically and stage thoughtfully. With more units on the market, consider modest upgrades or offering to pay a portion of HOA dues to attract buyers.

• Investors: High inventory and lower prices can translate to better cap rates. Evaluate locations with strong rental demand near universities, transit or employment centers.

By following these simple tips, you'll feel more confident about buying your first home.

Want to get started on your home-buying or selling journey? Text HOME to 832-639-4884 or click HERE to begin!

Resources

• HAR condo/townhome stats – Sales, pricing and inventory figures.

• HOA considerations – Common fees and restrictions associated with attached housing.

• Investment lens – Evaluating cap rates and rental demand for condos and townhomes.