Things are happening downtown. There are a few new apartment buildings and a downtown Lund’s grocery store and the newly refurbished Union Depot, the new green line and soon there will be a new baseball stadium.
Condo prices took a nose dive during the housing market crash and the great recession. With the housing market in much of the country still recovering it is hard to tell how much of an impact all of the new amenities downtown are having on condo prices. I will say that there are not enough condos on the market in the downtown area right now.
Using some of my most excellent software and data from our MLS I put together a sale price history for a downtown condo:
Prices hit bottom in 2009 and then again in 2011 which was the year we hit the very bottom and at that time the unit would have been worth about the same amount that buyers paid for it in 2002. By the end of 2011 prices were starting to climb again.
Here are some number for all of downtown for the last decade:
