While it seems just about every segment of the DFW real estate market is thriving right now, condos and townhouses around the Dallas area are showing significant gains in 2016.
According to a report released earlier this month from the Texas Association of Realtors, 1,536 condos and 1,019 townhouses have been sold in Dallas alone through May of this year, which is up over a 3% gain for condos and an eye-opening 8.6% gain for townhouses compared to the first 5 months in 2015.
What’s even more staggering is that the median price of condos in Dallas is now up to $160,000, while the median price of a townhouse in town has reached $235,000. And for anybody wondering, that’s 10.3% price increase for condos and a 7.8% increase for townhouses. Yet sales continue to see positive gains.
Industry experts are seeing a lot of millennials buying up attached residences in Dallas, while a lot of baby boomers have also apparently been in the market for condos and townhouses around DFW as well.
As walkability continues to be a top priority for home buyers, finding a home that provides a simple and affordable lifestyle is also high up on the wish list for many of today’s buyers—and that’s something attached residences can certainly provide in many instances.