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December 05, 2005

Where condo market is hot

Last year US median condo price exceeded that of a single family house, and the condo market still sizzles this year, albeit not every where. According to the Real Estate Journal, the median condo price reached $213,600 last September, up 9 percent from a year ago.

New York and Florida's Fort Lauderdale are the two hottest condo market with respective price gains of 156 and 149 percent from 2000 to 2005. In Fort Lauderdale most desirable districts, condo sells from $425 to $500 per square foot. In New York, you can find condos for about $940 per foot. That is cool $940,000 for a 1,000 square foot hole. You may think that it has golden faucets and platinum towel hooks, but no.

The NY and Ft. Lauderdale follow by San Diego, Miami and Washington DC. Interesting that Las Vegas didn't make top five.

Interesting that Las Vegas didn't make top five.

Posted in Real Estate at December 5, 2005 12:03 AM

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