As bad as March was for condominium sales and prices, April was good. Over 45 percent more condominums sold than in April 2012. Prices increased to within 7 percent of last April, climbing above $300,000 for the first time since last December. If the general market continues to recover through the year, average resale condominium prices will finish equal to or better than last year.
There have not been more than 1,600 properties for sale in Summit County since last October and at this rate, there will be a peak in July of well under 2,000 for sale.
Real estate fact of the week
182 ... total number of condominiums sold through April 2013
120 ... total number of condominiums sold through April 2012
Chuck Leathers is the broker/owner of Chuck Leathers Real Estate Co. He can be reached at (888) 485-2300 or email him at ChuckLeathers@Realtor.com.