Condo prices dip

As we discussed last month, Days on Market and Months Inventory numbers are progressing back to pre-covid levels, or in other words, normalizing. This is the first month this year to see a dip in pricing for condos. There are many factors involved including insurance increases, assessments and lender tightening on condo loans. The is where local market knowledge and experience can be a huge help for condo shoppers.