Through the 3rd quarter of 2015 prices of downtown condos were averaging $513 per square foot.  Average prices were held down a little bit by the sales of eighteen loft/studio type units that were just converted from apartments to condos.  Excluding those units average prices were $518/sf.   Total appreciation for past five years is 37.1%.

At $513/sf this represents only a 0.2% annual appreciation from 3rd Qtr 2014 and excluding the condo conversion units shows appreciation of 1.2%, this was down from last quarters annual appreciation rate of 4.8%.

Prices of condos over 1,200 square feet, which excludes a lot of non luxury buildings, shows an appreciation rate of 3.7% annualized from prior 12 months.