Condo sales break record!
According to the National Association of Realtors®, "Sales of existing condominiums and cooperatives hit their ninth consecutive annual record in 2004, while the pace of sales activity in the fourth quarter eased but remained the third highest quarter on record."
As for the actual numbers, "There were a total of 970,000 existing condo and co-op sales last year, up 8.0 percent from the previous record of 898,000 units in 2003."
And, what are the prices doing? "For all of 2004, the median existing condo price was $193,600, up 17.0 percent from a median of $164,100 in 2003. At the same time, the typical single-family resale home price rose 8.3 percent to $184,100."
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