September Townhouse/ Condo Market Update

📊 September 2026 Townhouse/Condo Market Overview

September's numbers show a continued slowdown in the condo and townhome market. Sales activity has dropped significantly compared to last year, properties are taking longer to sell, and overall residential inventory continues to grow. However, median home prices remain relatively stable despite these changes.

🏘️ Homes Sold

787 condos/townhomes sold in September 2026, compared with 962 last September.

• Down 175 homes

• 18.19% decrease year-over-year

This is a significant decline in sales activity. With nearly 1 in 5 fewer properties selling compared to last September, buyer activity appears to be considerably weaker than a year ago.

⏳ Median Days on Market

The median condo/townhome took 51 days to sell, unchanged from August.

• No change month-over-month

• Median Days on Market: 51 days

Although market times have stopped increasing this month, properties are still taking considerably longer to sell than they were earlier this year. This suggests buyers are taking more time to evaluate their options rather than rushing into purchases.

💰 Pricing Trends

The median sold price was $407,000, compared with $409,250 last September.

• Down $2,250

• 0.55% decrease year-over-year

• Median price per square foot: $236.56

Despite the substantial decline in sales, median prices have remained relatively stable. The modest decrease suggests that the market is experiencing more of a slowdown in transaction activity than a major drop in property values.

It's also worth noting that the median price per square foot has declined from $243.24 in August to $236.56 in September, a decrease of approximately 2.75% month-over-month. This may reflect some pricing pressure, although changes in the mix of properties sold can also influence this metric.

📦 Residential Inventory

There were 14,997 active residential listings, compared with 13,610 last September.

• Increase of 1,387 listings

• Up 10.19% year-over-year

• This figure includes all residential property types, not just condos and townhomes.

Inventory continues to increase, giving buyers more properties to choose from. More competition between listings can make it harder for sellers to attract offers, particularly if their homes are priced above comparable properties.

Importantly, the inventory figure represents the broader residential market, so it does not tell us exactly how much condo/townhome-specific inventory has increased.

🔍 Market Review

The biggest takeaway from September is the growing imbalance between sales activity and available housing inventory.

Condo/townhome sales are down 18.19% year-over-year, while overall residential inventory is up 10.19%. This combination suggests a market where buyers have more options and sellers are competing for fewer completed transactions.

What's particularly interesting is that median prices are down only 0.55%. Despite weaker sales activity, condo and townhome values have not experienced a dramatic decline.

Comparing August to September also reveals a few important developments:

• Sales declined further: August sales were down 15.72% year-over-year, while September sales were down 18.19%.

• Market times stabilized: Median Days on Market remained at 51 days.

• Median prices softened slightly: August's median was $410,000, compared with $407,000 in September.

• Overall inventory continued growing: Active listings increased from 14,701 in August to 14,997 in September.

For buyers, this environment may create more opportunities to negotiate on price, closing costs, and other contract terms.

For sellers, competitive pricing, strong marketing, and realistic expectations about how long a property may take to sell are becoming increasingly important.

Bottom Line

September 2026 shows a continued slowdown in the condo and townhome market, with sales down 18.19% year-over-year and overall residential inventory up 10.19%. Properties are taking a median of 51 days to sell, unchanged from August, while median prices have declined just 0.55% compared to last September. These numbers suggest that buyer activity is weakening faster than home values are declining, creating a more competitive environment for sellers and potentially greater negotiating opportunities for buyers.