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March Mass Home Sales Shows Decline

Condominium sales in March dropped for the ninth straight month. Condo sales decreased 31.6 percent to 1,034 from 1,511 in March 2010. A total of 2,747 condo sales transactions were recorded in the first three months of the year, a more than 20 percent decrease from 3,445 a year earlier.

Sales of both condos and single-family homes in every county statewide decreased in March.

The median price for condos sold in March was $237,000, down almost 5 percent from $249,000 in March 2010. The first quarter median condo price also declined almost 2.5 percent to $237,000 from $243,000 during the prior year’s first quarter.

Source: Banker and Tradesman

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