I hope you're right. Condo prices in CV are beyond ridiculous. I always thought condos should loose their price first, but it seems they are holding better than SFRs in CV.
I don't think that is true. Condos in CV have fallen much more percentage than SFH. Per peak prices, a 3/3 townhome was about $620k. A good portion of them are in the 500's, which why still ridiculous , is significant. I don't think SFH in CV have seen as much of this hit yet across the board. They have come down, but I haven't seen 20% across the board. Maybe here and there on some of the less desirable properties, but not across the board. Attached markets though are looking pretty grim. Look at all the sellers in the attached townhome "Pell Place". When these first started selling ,there were wait lists after wait lists. Now look at how many are active. There are currently 19 active listings in PELL Place alone (at least the ones with Pell Place as an address). That's a lot of inventory.
Edit:
So peering over some comps that I collected throughout the year. I would say (and realtors correct me if I'm wrong)
A good portion CV attached homes are at mid to end of 2003 prices.
A good portion of CV detached homjes are close to beginning ot 2004 prices.
