Back in 2009, I wrote about prices and how far back in time you could benchmark the fall. When I wrote that article it appeared that prices had fallen back to 2007 price levels. I also thought that prices had stabilized – or it seemed.
What caught my eye today was a listing in my neighborhood for a townhouse that came on the market for $389,900 at 2928 North Wood, unit D.
The list price of $389,900 is $1,600 less than the developer offered this unit for when offered at the sales office in 2000. Also, the original purchaser of this unit added upgrades, and the original closed price was $431,700!
This makes you wonder if prices have fallen all the way back to the year 2000 or 2001? Or even earlier?
Is the decade from 2001 to 2011 henceforth known as “The Lost Decade?”