Median Prices for Condominiums Shows Strength in West Coast Markets
Report: Median Prices for Condominiums Shows Strength in West Coast Markets – The Registry (theregistryps.com) By Catherine Sweeney
Condominium markets across the West Coast are showing promising numbers heading into 2022 as median costs are continuing to increase. According to a recent report from Polaris Pacific, which analyzed cost changes in Western condominium markets, 2021 ended with an extremely low condo supply. In turn, prices in many of the region’s top markets were significantly driven up.
“Condominium prices have increased modestly in most markets. The rate of increase has been most pronounced in non-coastal markets such as Denver and Phoenix/Scottsdale, which have seen an influx of new residents from the coastal markets. At the same time, condominiums in the major Western cities have erased much of the price declines experienced in 2020 and 2021. Office reopenings this year will further support this recovery,” Miles Garber, Polaris Pacific’s vice president of research, said.
