Onward into the realm of the amazing and incredible. These numbers are actually pretty similar to the single family numbers. As I’ve mentioned before on this blog, condo/townhouses are a lot more difficult to draw conclusions about because there are problem projects and great projects and some are way up and others not so much. Thus that should be considered when thinking about the overall statistics about FC. Let’s get started…how about the total number of units sold. Here’s the history:
2013 had a healthy 169. Not as high as 2006, but inventory was horrid. Still we sold a lot more than in 2008. In 2006 it was 41, 2007 was 40, 2008 was 55, 2009 was 70, 2010 was 50, 2011 was 72 and 2012 was 41. Incredibly, just like houses, 2013 was 20! I guess that’s what happens when you have far less short sales!! Now how about the average prices:
In 2013 the average sale price was $657,000. Not quite all time high territory but pretty darn good. Again, if you break down values into specific projects you’ll find that many FC developments did indeed hit all time highs. These are just the averages. Regardless, the direction we’re heading in leads me to believe that that high will be hit across the board in 2014.