Despite pockets of sluggish sales, however, condominium prices continue to edge skyward.
Some brokers also question whether condominium prices will still be soaring three years from now, when the new tower would open.
It was only a year or so ago that average cooperative and condominium prices reached the $1 million mark in Manhattan.
In 1994, the average single-family house sold for $238,258; the average condominium price was $150,575.
He paid $260,000 (35 percent in cash) at a time when condominium prices were weakening.
At the same time, condominium prices have soared.
Initial condominium prices ranged from $ 270,000 to $1,000,000 during the pre-construction phase.
In Waterbury, the average price for a house rose, from $118,800 to 131,400, and condominium prices increased from $90,100 to $90,300.
He expects condominium prices to begin rising in the second quarter, while home prices will continue to slide.
I was shocked, however, to learn that rents of $1,400 and condominium prices of $125,000 were considered affordable.
