Prices fell nine percent during the past twelve months, after increasing 48 consecutive months. Closings have slowed--seven trailing-six months; none in January and February. One of the nine current listings is pending sale.
Rents have increased four percent trailing-12 months. The trailing-12 price decrease nudged the price/rent ratio below Moody’s “Long-Run” Affordability (15.26).
Since the October 2010 LOW ($222/LIVSqFt), the value trend-line has inclined 33%.
Ashley South models (2,635 LIVSqFt) closed trailing-24 months average highest ($512/LIVSqFt), including the top sale (Condo 3306, $1,450,000, $550/LIVSqFt). The best deals were found in the largest model—Riverhome (3,060 LIVSqFt at $311/LIVSqFt).
Interesting to watch as the high-rise “Hyde Park” is built across the street: prices of Ashley North models (trailing-24, $1,167,500, $443/LIVSqFt).
BEST UNDER MARKET LISTINGS: Condo 704 (Champagne South, $919,000, $436/LIVSqFt), and Condo 502 (Bradford North, $799,000, $490/LIVSqFt).