Condos are Rebounding, Too

Just as a postscript to the last post – the figures above are for single family homes. The condo market’s rebound looks even more dramatic. Inventory is down nearly 26%, days on market is down 3%, and months’ supply is down over 33%. And the prices have “only” dropped 11% average price, 5.5% median price. (I know – it’s a lot of money when it’s your money!) Sales are up 11%, and units under contract is up 17%, which means the number of units sold is still rising. Good news!