Headline from the Department of Redundancy Department?
Maui: try $600,000 to one or two million.
Example: Chic, All New 800Sqft 1Bd/1Ba; Pure Decadence In Clarendon! Hrdwd Flrs, Granite And Ss Appls Abound. Gas Fp, Flr To Ceiling Wndws, In-Unit W/D, Alarm, Built In Granite Desk In Bd; Very Well Thought Out! Condo Fee Is Only $233/Mo.Garage Pkg Is Included!amenities & Location 2Nd To None: Rooftop Pool, Gym, 24Hr Conceierge, 2 Blks To Metro, Rests, Whole Foods, Shops, Etc... PRICE: $499,900
And for a limited time there are extra parking spaces for sale at $40,000 ea.
While in larger cities, high rise condo's with high rise prices are all the rage, in smaller cities and rural areas condo prices are plummeting. With laws preventing any new development of mobile home parks, the condo is becoming the trailer of the new millennium.
Where I live cheap condos (townhouse style) are popping up everywhere, generally priced from $72k for a two bedroom two bath to $80k for a three bedroom. This is much cheaper than it would be to buy a trailer home with the land to set it up on.
There have even been two mobile home parks in my county that were changed into townhouse condos. It really is amazing to see what little effort went into doing this. No new roads or utilities were needed. They had only to build townhouses where the trailers once stood. And the new condos payments are actually cheaper than the average trailer plus lot payments are.
My point? While the condos in the sky may be keeping the average condo price sky high, as trailer trash condos become more popular, the average price will be kept down in the future. It seems the condo has a way of becoming all things to all people.