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2013 Texas Condominium Sales Report_December 2013

2013 Texas Condominium Sales Report_December 2013

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Published by Houston Chronicle
Condo report
Condo report

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Published by: Houston Chronicle on Dec 02, 2013
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12/03/2013

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Texas Condominium Sales Report
2013 Edition Release date: Dec. 2, 2013
About the Texas Condominium Sales Report
The Texas Condominium Sales Report is based on data from The Real Estate Center at Texas  A&M University. The report analyzes condominium sales data from January 2013 through September 2013 for Austin, Dallas, Houston and San Antonio. The Texas Association of Realtors distributes insights about the Texas housing market each month, including quarterly market statistics, trends among home buyers and sellers, luxury home sales, international trends, and more. To view these reports, visit TexasRealEstate.com. 
About the Texas Association of REALTORS®
With more than 80,000 members, the Texas Association of REALTORS® is a professional membership organization that represents all aspects of real estate in Texas. We advocate on behalf of Texas REALTORS® and private-property owners to keep homeownership affordable, protect private-property rights, and promote public policies that benefit homeowners. Visit TexasRealEstate.com to learn more.
Contact: Stacy Armijo Pierpont Communications 512-448-4950 sarmijo@piercom.com
 
2013 Texas Condominium Sales Report December 2013
2
Source: The Real Estate Center at Texas A&M University
Executive Summary
The 2013 Texas Condominium Sales Report showed
double-digit
growth in condominium (condo) and townhome sales among Texas’ four
major markets year-to-date through September 2013.
 
 According to the report, Austin, Dallas, Houston and San Antonio experienced an average 26 percent jump in condo sales between January and September 2013. Individually, Dallas condo sales jumped 38 percent, followed by Houston at 25 percent, Austin at 24 percent and San Antonio at 18 percent. Trends during this time mirrored those of single family home sales across Texas, with double-digit decreases in active listings and days on the market and moderate increases in median and average price. In Dallas, 4,468 condos were sold between January and September 2013. Compared to the same period in 2012, the median price increased 10 percent to $153,000. The number of new listings also increased 10 percent to 6,311, whereas active listings dropped 26 percent to 1,607 listings and pending sales jumped 33 percent to 4,077 year-over-year. Finally, days on the market dropped to 67 days, a 28 percent decrease from the year prior. In Houston, 5,067 condos were sold between January and September 2013. Compared to the same period in 2012, the median price increased seven percent to $140,000. The number of new listings increased three percent to 7,552, whereas active listings dropped 31 percent to 1,737 listings and pending sales increased 17 percent to 2,827 year-over-year. Finally, days on the market dropped to 61 days, a 27 percent decrease from the year prior. In Austin, 2,450 condos were sold between January and September 2013. Compared to the same period in 2012, the median price increased seven percent to $192,420. The number of new listings increased eight percent to 3,306, whereas active listings dropped 28 percent to 635 listings and pending sales jumped 22 percent to 2,706 year-over-year. Finally, days on the market dropped to 52 days, a 30 percent decrease from the year prior. In San Antonio, 469 condos were sold between January and September 2013. Compared to the same period in 2012, the median price increased six percent to $98,900. The number of new listings decreased three percent to 776, whereas active listings dropped 22 percent to 379 listings and pending sales increased 11 percent to 415 year-over-year. Finally, days on the market dropped to 113 days, a 23 percent decrease from the year prior.
 
2013 Texas Condominium Sales Report December 2013
3
Source: The Real Estate Center at Texas A&M University
Dallas
Condo and Townhome Sales Statistics, January through September 2013:
 
4,468
 –
 Total condos sold, 38 percent more than January
 –
 September 2012.
 
$153,500
 –
 Median price for condos, 10 percent more than January
 –
 September 2012.
 
$199,957
 –
 Average price for condos, 11 percent more than January
 –
 September 2012.
 
$131
 
 –
 Average price per square foot for condos, 11 percent more than January
 –
 September 2012.
 
67
 
 –
 Average number of days condos spent on the market, 28 percent fewer than January
 –
 September 2012.

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