Doubtful 2bdrms will fall below $200k. Comparable rents are $1,800-2,000. Rents would have to fall significantly, or we’d have one major over-correction.
Last 2bdrm sold was $300k, with highs of around $450k I believe. The last 1bdrm sold for $230k, highs of around $340k.
They will come down some more, but I think the price reductions will start moving up the ladder with the lower end slowing down.
Fireplace comment spot on – if you rent or buy a unit, get one without the FP. Very significant space difference.
I had the 1 vs 2 bedroom debate before I purchased. I chose 1 bdrm as it allowed to have much lower monthlies, allowing me stockpile a horde of cash. Easier to sell a 2 bedroom, but you can always rent the cheapest unit in a complex. Pros & Cons.
