Condo Prices Exceed Single-Family Homes
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Contributed by: David Cao
David Cao Properties
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By RAY A. SMITH
Staff Reporter of The Wall Street Journal
February 15, 2005 -- Sales of existing condominiums and co-ops rose 8% in 2004, the ninth consecutive year of record sales -- and the median price for a condo exceeded the median price of a single-family home for the first time since such records were kept.
A total of 970,000 existing condos and co-ops were sold in 2004, according to the
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National Association of Realtors, up from the previous record of 898,000 units in 2003. The median condo price rose 17% to $193,600, a record high, from $164,100 in 2003. In contrast, the resale price for a single-family home was $184,100. Read The Rest HERE:
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