Tuesday, April 19, 2005

The California Association of Realtors® reports on Condo sales

With the prices of real estate in California reaching record levels, the condo market has remained strong. As an alternative to single family residences, condos have represented affordable housing to many.

This new CAR report states "Condominiums represented 16 percent of sales in 2004, about the same share as in recent years, according to C.A.R. research. As with detached homes, condominium sales have trended upwards in recent years: Annual sales of condominiums were 20 percent higher in 2004 compared to the 2000, not nearly the 32 percent increase in detached home sales over the same period, but nonetheless an impressive gain. Moreover, annual price appreciation of condominiums surpassed that of detached homes in all but one of the past five years."

To read more, go here.

No comments: