Bridgeport Condo Update
March 2008
Unit Sales are off 41% from the prior year and continue the three year downward trend. This is similar to the Single Family trend in unit sales. What is a bit of a surprise is that the Median and Average Selling Prices seem to be very stable. This is counter to the trend in Single Family Homes where we are seeing a dip in prices too.
This is good news for Bridgeport and Values. We just need to get past the mortgage cash crunch and loosen credit a little bit for the condo market to start thriving again.
BRIDGEPORT Update |
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Year to Date Sales of CONDOS |
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As of March 31 |
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| 2008 | 2007 | 08 vs 07 | 2006 | 08 vs 06 |
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Closes | 70 | 119 | -41% | 125 | -44% |
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Median Price | $150,000 | $145,000 | 3% | $135,000 | 11% |
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Avg Selling Price | $159,811 | $147,893 | 8% | $143,576 | 11% |
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Prepared by the TETREAU Real Estate Group from W. Raveis Real Estate |
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