Downtown Condo Market – Results for 2008
Despite the economic downturn, many buyers felt that the downtown condo market was still a very safe investment. Here are the final numbers:In 2008, transactions involving 554 condominium units in downtown and the surrounding neighborhoods closed. Here's how your neighborhood performed:
Bay View
Total Units Sold: 25
Number of Units Owned by Condo Developers: 2
New Development: UrbanView
Average Sold Price per Square Foot: $155.48 (Range: $102.47 - $203.37)
Brewers Hill (Including Beerline)
Total Units Sold: 29
Number of Units Owned by Condo Developers: 0
Average Sold Price per Square Foot: $170.52 (Range: $68.56 - $208.40)
East Town
Total Units Sold: 118
Number of Units Owned by Condo Developers: 53
New Development: 601 Lofts, The Blatz, City Green, Courtyard Square, Terrace Row, & University Club
Average Sold Price per Square Foot: $253.11 (Range: $130.43 - $554.64)
Halyard Park
Total Units Sold: 9
Number of Units Owned by Condo Developers: 4
New Development: Historic Third Street Lofts & Reservoir Hill
Average Sold Price per Square Foot: $143.20 (Range: $107.76 - $159.89)
Lower East Side
Total Units Sold: 191
Number of Units Owned by Condo Developers: 91
New Development: Cambridge Heights, Cambridge Terrace, Gallun Tannery Row, Hamilton Town Houses, Jackson Street Townhomes, Lake Bluff, Landmark on the Lake, London House, Marshall Street Condos, & The Flatiron
Average Sold Price per Square Foot: $214.69 (Range: $127.26 - $399.20)
Riverwest
Total Units Sold: 16
Number of Units Owned by Condo Developers: 0
Average Sold Price per Square Foot: $121.64 (Range: $83.75 - $151.06)
Third Ward
Total Units Sold: 48
Number of Units Owned by Condo Developers: 21
New Development: 320 Condos, Cityside Plaza, Warehouse 525, & River Renaissance
Average Sold Price per Square Foot: $249.68 (Range: $117.65 - $382.20)
Upper East Side
Total Units Sold: 37
Number of Units Owned by Condo Developers: 4
New Development: Bartlett Estate Condo & Greenwich Row
Average Sold Price per Square Foot: $172.95 (Range: $121.48 - $478.82)
Walker’s Point (Including “Fifth Ward”)
Total Units Sold: 69
Number of Units Owned by Condo Developers: 43
New Development: First Place on the River, Warehouse Lofts, & Water Street Lofts
Average Sold Price per Square Foot: $239.03 (Range: $149.97 - $353.71)
Westown
Total Units Sold: 12
Number of Units Owned by Condo Developers: 11
New Development: Wisconsin Tower
Average Sold Price per Square Foot: $168.31 (Range: $137.80 - $191.18)
Note: Information based on Metro MLS Data from January 1, 2008 to December 31, 2008.
For more information regarding the downtown condo market contact David Ray at 414.412.7980 or dray@shorewest.com.
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Labels: Real Estate
posted by David Ray @ 8:50 PM
5 Comments:
Hope I can see the result for 2009 too. Thanks for the updates.
Paula M
Paula, thanks for writing. I inadvertently forgot to write up a post for 2009 results. I will update my blog within the next 24 hours with the results. Thank you for reviewing my 2008 post.
Paula, I updated my blog this evening to include results from 2009. You can find my latest post at http://ht.ly/2eh7x.
Thanks David, will gonna check this out.
Paula M
Buying into condominiums is a good way to make a profit on your real estate investment.
Condo Market
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