Condo Prices Exceed Single-Family Homes
Date: Sunday, February 20, 2005 @ 08:39 AM EST
Topic: News and Announcements
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
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:
|
|