What was the real estate market like at Canyon Ridge Condominiums in 2010? Condo sales values in Canyon Ridge Condominiums were much stronger than the 2011 sales report by 27%. The values of condos in 2010 were very stable due to NO short sales or foreclosures being sold in the whole community. The big difference in price comes in 2011, when the first foreclosure shows up and sold for $105,000 while the median price in 2011 without the foreclosure would have been $202,500... OOOOUCH!
Sales in 2010 had a 26% higher $/SQFT (price per square feet) than 2011. The median sales price was $230,625 with the lowest sale being at $197,000.
There were four sales in 2010 in comparison to only three in 2011, and one being a foreclosure that has brought values down dramatically.
Let's hope that 2012 offers stable or increase condo values as I'm sure homeowners would like to sell, but are not able due to their loan payoff exceeding fair-market value.
Here are a few charts that show the market trend for Canyon Ridge Condominiums:
Canyon Ridge Condominiums Real Estate Market Report - 2010 ($/SQFT)
Canyon Ridge Condominiums Real Estate Market Report - 2010 (Original Price vs. Sold Price)
Canyon Ridge Condominiums: $/SQFT comparison 2010 vs. 2011
Canyon Ridge Condominiums: Original Price vs. Sold Price comparison 2010 vs. 2011