Monday, August 10, 2009

Good news for intown condos

The ABCs reports that Haddow and Company's mid-year condo report is surprisingly good. Developers have cut prices 30% to 40%, with relative success:
In the first half of 2009, 572 condos were sold, versus just 66 in the previous six months, Haddow & Co. said.

The turnaround puts the intown market in good position to surpass the 645 sales it posted during all of last year.
That is still way less than when the condo market was booming. According to Haddow's data, a "normal" condo market seems to sell around 2,000 units a year. That got up to almost 5,000 in 2005.

2 comments:

  1. Does GSU or other source have a copy of the Haddow report available for review?

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  2. GSU sometimes has older copies of these reports in the Real Estate department. Not sure if they have this one.

    From my experience, Haddow and other folks like him (Dale Henson) try to prevent proliferation of their reports. They are rather expensive for non-businesses to buy out of curiosity.

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