Oct 16 2007

Baltimore’s Unsold Condo Units Rise to 5,091

Published by at 10:07 pm under Condominiums,Real Estate

baltimore-condos.jpgToday’s Baltimore Sun article discusses the surplus of condos on the market.? However, out of the 5,091 vacant condos in the Baltimore metro area, only 865 are in Baltimore City. This is surprising given the number of large-scale condo projects underway.

New condo sales in metropolitan Baltimore fell 37 percent in the first half of this year – the latest statistics available – while new townhouse sales fell 15 percent…

Builders now are cutting prices to levels that are more than 10 percent below the height of the market.Our expectations back [in 2005] might have been unrealistically optimistic,” Campbell said. “We’re hoping now our expectations are unrealistically pessimistic, and we could do better.

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