Condo Sales Continue In Response to Price Drops
January 13, 2012
A
review of news articles today revealed that condos are continuing
to sell in the larger metro markets. Owners are dropping their
original asking price, and in so doing, are creating increased
demand for condos.
The Atlanta Journal Constitution reported that one realty group dropped condo prices by 30-40% and sold 450 units in an 18 month period. Impressive! A representative for the firm said that buyers are out there and actively looking for deals.
It is anticipated that condo prices will begin to rise in the next few years as units become scarce. Condo construction has halted in many areas since the previous years' surplus sat unsold as a result of the dramatic real estate market downturn.
While the traditional single family home offers its own advantages, condo living and today's condo deals are a very tempting combination.
