Seattle Times on Condo Appreciation
Seattle Times: Condos appreciate strongly; studios lead:
Since 2000, King County condominiums have outperformed single-family houses two out of five years. And even when they haven’t, their appreciation has been strong.
In 2005, for example, the county’s single-family houses appreciated 16.3 percent per square foot. Condos climbed a healthy 13.5 percent.
The article also lists to some good sidebars:
I get the sense that as home prices went up and the first part of the baby boomer generation whose kids have left started unlocking the value in their homes and moving to relatively cheap condos. Now that housing is slowing down condos are catching up but will also plateau out in a year two (unless interests start to decline). Especially consdering we’re already seeing condo prices for 2 bedroom condos downtown approach the prices for houses in neighborhoods bordering downtown.