Affordable Condo Prices Stabilize

Good evening!

Still more good news, this time for affordable two-bedroom condos:

  • We have a client interested in older condos in good locations. We focussed on two-bedroom condos built between 1979 and 1983, in good ski in, ski out, or walk to slopes locations. We charted all 13 such sales 2009, and the price-per-square-foot has stabilized and is going up! (See the magenta line). There’s a 10 percent per year uptrend (yellow line) in the price per square foot.

For older two-bedroom condos in ski in, ski out, or walk to slopes locations:

  • The peak selling prices occurred roughly from July 1, 2007 to July 1, 2008, and averaged $502 per sq ft
  • Selling prices in 2009 averaged $443 per sq ft
  • That’s a drop of just 12% from the peak
  • Prices appear to have bottomed out, and since 1/1/2009 they are rising at a rate of 10% per year

Compare this to our recent posting, “Luxury Home Prices Stabilize

So, come on up and get a condo! These condos have been marked down 12%, but they’re already heading back up.

You’ve been good this year, haven’t you? Why not make an investment in The Best Place On Earth!

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