WHAT'S THE DIFFERENCE BETWEEN NEW AND RESALE CONDO SALES?
Now look at the RESALE condo market. That's for people who want to move in right now!In April, the sale-to-listing ratio was over 40%. That means that out of 100 active listings for sale in the month, 40 sold. In April of 2008 the number was 45%. Compare that to a normal market - a balance for both buyers and sellers - which is 25 to 35%.
If you want real life experiences and not statistics, just talk to any buyer of a resale condo and ask him how many sales went multiple offer? That's all you need to know about this market. But it won't make headlines.