It's not just Texas single family homes that are jumping in value. Townhomes and condominiums are following the same trend, according to a new study.

The number of condominiums sold in Texas sold increased 41% from July 2020 to June 2021, Texas Realtors reported. Townhomes sales increased 36% in that same period, the group said.

Medium prices increased 24% for condos and 18.7% for townhomes, according Texas Realtors.

"This rapid uptick of condo and townhome sales is another great example of demand for Texas real estate," Marvin Jolly, chairman of Texas Realtors, said in a statement. "The market for these types of properties is as competitive as ever and is another strong real estate option for those who wish to live in Texas. Condos and townhomes are available at multiple price points and can be a great option for many entry-level homebuyers, young professionals or retirees looking for a lock-and-leave lifestyle."

Prices are up and inventory is down. For condos, inventory dropped from 5.1 months of available units in June to 2.2 months in June 2021. The supply of townhomes, meanwhile, dropped from 4.2 months to two months.

The amount of time the units were on the market also dropped. Condos were on the market an average 48 days in June 2021, down from 71 days in June 2020. Townhomes dropped from 63 days to 36.

"Many buyers choose these types of properties for their proximity to urban areas, added amenities and low upkeep," Jolly said. "Those and other characteristics make condos and townhomes an appealing choice to people who may not be interested in a single-family home. A Texas Realtor can help buyers navigate the competitive market and provide guidance on these types of properties."