Condo Prices Down, Sales Up

According to the latest local real estate market statistics for downtown condos, sales prices dropped.

According to this survey asking prices for condos dropped by 25.5%. In the month of April asking prices dropped to $265,802 from $352,921.

As for prices they actually sold for, in the month of March sales prices were averaging $319,760. In April there was a drop of 20% to $255,723. Prices per square footage dropped 11% accordingly, from $229 per sq. ft. to $203 per sq. ft.

On a good note with asking prices decreasing there was an increase in sales for local condos.

In the month of March there were a total of 64 condo transactions. In April, that number increased to 67, giving the condo market a 4.7% increase in sales.

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