In the first nine months of the year, the average price of a condominium was $159,698, substantially higher than the $143,167 average price in the first nine months of 2000.
The median price of a condominium sold in September actually rose slightly to $141,950 from $141,689 in August. A year ago, the median price was $131,500, Gary Bauer, of Coldwell Banker, tells GlobeSt.com.
In the first nine months of the year, the median price of a condominium was $140,000, compared with $125,000 to the year-to-date median price in 2000.
For most of the year, as more expensive single-family home prices soared, lower-priced homes condominium prices had appreciated in value quickly. Bauer tells GlobeSt.com that appreciation for condominium and lower-priced homes appears to be slowing.
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