The median price for a condo has drifted downward since it's peak in December 2007. currently, the median price is $335,000 meaning half of all sales are below this number and half above. It's a decline of 8% over one year, but is equal to the the median price observed two years ago.
Quarterly sales are at the lowest number since we began collecting data in early 2004. this reflects a very low month of January and February. Sales have picked up in March and we will watch to see if this increase can be sustained.
Condominium price per square foot continues to move downward for the fourth straight quarter. This is where the most pertinent market information is found. Condominium values have dropped 19% over the past one year and are down 22% over a two year period.
Buyers are getting spending less and getting more space for the money. Below are a few charts for you statistics lovers.
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