Condo sales are up in March and the entire first quarter compared to 2023. I personally expect the next periods to follow suit as we break away from historically low numbers for both inventory and sales activity in 2023.
For those who watched my 1st quarter recap video, you’re probably wondering why there’s a conflict with the increase in closed sales. These reports are run at different times and data corrections can affect the stats drastically when there are only a few sales.
From a lending standpoint, financing continues to be challenging in both The Domain and Harbor Lofts as conventional financing requires a condo questionnaire to be reviewed by each lender’s underwriter. Until the communities are formally approved in Fannie Mae’s system, it will be hit or miss trying to get a loan approved.
For the high density buildings A-Town, Chapman Commons, The Domain, Harbor Lofts, and Stadium Lofts, activity has been pretty identical compared to 2023.
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