The 469 units on the downtown condo resale market today reflect a 10 percent drop in the median asking price from the beginning of the year, reported downtown Realtor Lew Breeze.
Keep in mind, the asking price is sometimes higher than what the unit ultimately sells for. The average selling price in the last 30 days has been 3.90 percent lower than the asking price, Breeze reported.
Here’s a rundown on the asking-price stats Breeze pulled from the MLS today:
- Average price: $737, 627. That’s a year-to-date decline of about 7 percent. But if you take out the 15 most and least expensive units and recompute the average, it’s $666,625.
- Median price : $585,000. The 10 percent drop since January was in this category.
The 34 “pending sale” units over the past 30 days had an average price of $645,734. The 29 condos that closed sale in that same period had an average price of $741,962.
Here’s my favorite part – comparing the least and most expensive resale condos sold in the previous 30 days.