Day: August 1, 2020

Condo Prices and Sales Down in June, But Buyer Interest Is Increasing

Homebuyer demand for condos dropped with the coronavirus pandemic, but buyers are starting to return—particularly those searching for affordable homes. Demand for single-family homes has recovered more quickly.

Condo sale prices nationwide dropped 1.4% year over year to a median of $252,000 in June, the second consecutive month of drops after nearly two years of rising prices. Price growth for condos had reached a three-year high in January with a 9.7% year-over-year increase.

Contrast that with single-family homes, which saw their median sale price rise 2.6% year over year to $322,000 in June. Price growth for both condos (-2.4%) and

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Terrace with no bathroom and ceiling propped up by cabinet sells for $110,000 over reserve

Ray White agent Jack McGhee registers buyers for a rundown Waterloo terrace. Picture: Darren Leigh Roberts

A historic Waterloo terrace listed as “not for the faint hearted” because of the derelict condition sold at auction Saturday for an unexpected $1.01 million.

The two-bedroom house on Morehead St had gone to market with an $850,000 guide and $900,000 reserve but sold for $110,000 over expectations after 15 buyers registered to bid.

Held by the same family for close to 80 years, the terrace built in the 1880s was uninhabitable and required significant work.

Rooms were cordoned off with caution tape and

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