Condo prices dipped 2% in May marking second-largest decline on record, report finds

Condo Prices Register 2nd Largest Annual Decline Since 2012

The median sales price of condominiums declined 2.2 percent annually in May to $354,100 amid a large imbalance in the number of sellers and buyers, real estate brokerage Redfin said in a July 1 statement. The price dip is the second-largest year-over-year decline since 2012. The only time condo prices posted a bigger yearly decline was in April 2023, when prices fell 2.9 percent, said the company. The brokerage attributed the fall in prices to s…

Condo prices dipped 2% in May marking second-largest decline on record, report finds

The price of a condo dropped significantly lower than the cost of a home, according to a new housing report.