Condo prices in oceanfront counties increased 10% – 40% during Q2 2021
Median Condo Values & Price Increases Tracked National Condo Trends
The nationwide condominium market plunged as the Covid pandemic played havoc with owners’ preferences surged for more privacy and less density.
Now, as more and more people become vaccinated and comfortable in aggregate settings, the condominium market is back.
Attom Data Solutions’ new report on condominium sales and prices within oceanfront counties found that the typical median price of $305,000 was evenly split, more in 50% and less in 50%, among condos nationwide.
ATTOM’s report also showed that in over 50% of oceanfront condos, median prices increased by at least 20%. However, in the South where condo markets are less expensive, oceanfront condos generated price increases of at least 30% y/y during Q2 2021.
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The South Had Most Condo Sales in Q2 2021
The Southern region of the US generated 67% of condo sales during Q2 2021, according to ATTOM.
All in all, states with the most oceanfront condo sales included:
- Florida – 58,404
- California – 20,042
- Hawaii – 4,686
- South Carolina – 4,617
- Massachusetts – 4,198
The counties with the most Q2 oceanfront condo sales included:
- Palm Beach County FL (West Palm Beach) – 10,454
- Miami-Dade County FL – 9,396
- Los Angeles County CA – 7,228
- Broward County FL (Fort Lauderdale) – 6,890
- San Diego County CA – 4,740
Condo Prices Increased +20% in Majority of Oceanfront Counties
Median condo prices jumped at least +20% in 55% of oceanfront counties. Median values jumped by at least +30% in 33% of oceanfront counties.
Take a look at the oceanfront counties where median condo price jumped the most on a year-to-year basis:
- Pasco County FL (north of Tampa – +245%
- Galveston TX – +102%
- Indian River FL (Vero Beach) = +68%
- Lucie County FL – +66%
- Johns County FL (St. Augustine) – +61%
Here are the oceanfront counties where median condo prices decreased the most:
- Santa Rosa County FL (east of Pensacola) – -22%
- Onslow County FL (Jacksonville) – -18%
- Suffolk County MA (Boston) – -11%
- Juneau County AK – -10%
- Queens County NY – -8%
Thanks to ATTOM Data Solutions.
