In the first half of 2009, 572 condos were sold, versus just 66 in the previous six months, Haddow & Co. said.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.
The turnaround puts the intown market in good position to surpass the 645 sales it posted during all of last year.
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: