Following-up on my earlier, unsubstantiated post about condo sales in the city, here is some hard data to support my opinion, courtesy of Otis & Ahearn.
CY 2005 – CY 2006 – CY 2007 – YTD % INCREASE (from prior year)
Number of sales: 2141 – 1913 – 1944 – +1.62%
Absorption: $1,291,759,668 – $1,107,517,461 – $1,289,673,965 – +16.45%
Average sale: $603,344 – $578,943 – $663,413 – +14.59%
Median sale: $475,000 – $455,000 – $482,500 – +6.04%
CY = calendar year
Absorption = units sold multiplied by sales prices
Complete report: Closed Condo Sales, Calendar Year 1/1 – 7/6, 2001 – 2007 (pdf)
Also: Closed Condo Sales, 1st Quarter, 2007 (pdf)
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