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Condo prices climb 5.4% in August in U.S.

Christian Fernsby |
Condo sale prices in the U.S.

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Topics: U.S.   

increased 5.4% year over year to a median of $266,000 in August, trailing growth in single family home prices, which surged 11.9% to $343,000, according to a new report from Redfin.

About one in five condos (21.9%) sold for above the price at which it was listed, up slightly from 19.2% in August 2019.

That compares with one of every three single-family homes (33.6%), up from 24.3% a year earlier and the highest share on record.

Interest in single family homes has already started to decline slightly; about a third (34%) of saved searches created by users filtered exclusively for single family homes in September, down from a peak of 37% in July, indicating that living in a single family home is becoming less of a priority for house hunters.

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