California, Florida Lead Pack for Most Q2 Condo Sales

ATTOM recently released a special report looking at U.S. condominium sales and prices in oceanfront counties. The report, following up on the June collapse of the Champlain Towers South in Florida, shows that median condo values and price increases in oceanfront counties in second quarter 2021 closely tracked national trends.

The report found that median condo prices in 50 percent of those oceanfront counties surpassed the typical $305,000 condo price nationwide, while 50 percent fell below. It also revealed that median condominium prices increased during second quarter 2021 by at least 20 percent, measured year-over-year, in slightly more than half of the oceanfront counties analyzed.

Less-expensive oceanfront condo markets concentrated in the South generally showed bigger year-over-year gains, while the most expensive counties located mainly in the West showed the smallest.

The report looked at 86 U.S. counties that bordered the Atlantic Ocean, Pacific Ocean or the Gulf of Mexico. Florida had the most sales in the second quarter (58,404), followed by California (20,042), Hawaii (4,686), South Carolina (4,617) and Massachusetts (4,198).

The five counties with the most second quarter transactions accounted for 37 percent of all condo sales in the areas analyzed. Those counties were Palm Beach County, FL (10,454 condo sales); Miami-Dade County, FL (9,396 sales); Los Angeles County (7,228 sales); Broward County/Fort Lauderdale (6,890 sales) and San Diego County (4,740 sales).