Condo Market Regaining Vigor, Study Concludes

Fifteen percent of more than 1,200 home transactions studied by the California Assn. of Realtors last year were condominiums or townhouses, up from 12.6% in a comparable 1986 study.

“After several years of lessened activity, the condominium market appears to be regaining some of its vigor,” according to Dale Colby, president of the trade association. “While there is still some distance to go before it can be judged completely healthy again, we see this as a good indication.”

Condominiums and townhouses, with a median price of $115,550, are meeting the housing affordability needs of an increasingly large number of Californians, he added. Detached homes in the study had a median price of $149,250.