Quote:
Originally Posted by Jaroslaw
Some interesting numbers from AppraisalResearch at cribchatter.com.
--estimated downtown condo sales for 2007: 4,000 (down from 5,783 last year and 8,162 in 2005)
--unsold inventory (new and u/c) is at 7,601 units
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Jaroslaw - just a correction on unsold inventory. The 7,601 figure is almost assuredly for completed, under construction, as well as pre-construction units that are being marketed. The pre-construction unsold units are a huge percentage of the total unsold almost by definition (as under-construction needs to be at least 50% pre-sold - and as many of the under construction projects are 70-90% pre-sold, the overall average must be closer to 60-70%....)