In December 2017 and January 2018 the Mark Company Condominium Pricing Index* increased for the first time compared to the previous 2 years (+2% and +6%, respectively, on y-o-y basis).
Recently released report by the Mark Company indicates that this upward trend did not continue in February 2018. New condo prices dropped -1% compared to February 2017 and -8% compared to January 2018 & are now equal to $1,118 per square foot. This drop may be of even larger significance in view of -44% decrease in inventory compared to the same time last year.
As for condominium resales, their prices also dropped -1% y-o-y and -5% v. January 2018, equaling to $1,036 per square foot.
For more details, please download the enclosed copy of the report.
*The Mark Company Condominium Pricing Index uses a proprietary quantitative method to model the price per square foot of a new 10th floor, 1,000 SF condominium.
With best wishes,
KATE BATZOGLOU (STANTON)
Associate Broker, Pricing Strategy Advisor (PSA®)
CalBRE No: 01445813
c: +1 (415) 601-0926
Disclaimer: Information provided herein was derived from public sources deemed reliable, it is intended for information purposes only, may contain errors and is subject to revision.