Condo Numbers to Consider

I was analyzing a few condo numbers last night and thought I’d share a few numbers with you. I looked at nearly every condo project across the city that is currently on the market. What did I find? The mean and median price for newer construction on a per unit basis is about $90k more than for condos built in 2001 or earlier. No significant surprise there. More interesting is that the price for square foot is nearly the same at approximately $272 per square foot across all condo projects. What does it mean if the price is the same and we can ignore age? New construction is larger. The average newer condo currently on the market is 1318 square feet compared 977 square feet for older condos.

Mean	2001 and Prior	Post 2001
Price	$258k	$348.311
Sq. Ft.	977	1318
Price/Sq Ft.	$272.46	$272.32

The data is further broken out by neighborhood