The National Association of Realtors said Wednesday
condominiums U.S. condominium sales posted their
ninth-consecutive record in 2004.
Wednesday, February 09, 2005 -- WASHINGTON -- NAR said sales activity in the fourth quarter eased but it was still third highest quarter on record.
Some 970,000 existing condo and co-op were sold last year, up 8 percent from the previous record of 898,000 units in 2003.
Fourth-quarter sales slipped 3 percent to a seasonally adjusted annual rate of 972,000 units from a 1 million-unit pace in the third quarter.
In the fourth quarter, the median existing condo/co-op price was $203,200, which is 16.7 percent higher than a year ago.The median is a typical market price where half of the units sold for more and half sold for less. By comparison, the typical single-family home cost $187,500 in the fourth quarter, 8.8 percent higher than a year earlier.
For all of 2004, the median existing condo price was $193,600, up 17 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.
Copyright 2005 by United Press International (via ClariNet)
Reprinted from www.out2.com