A condominium market report is only as good as its sample. Median price per square foot, days on market and sale-to-list ratio are useful when a building has enough recent closings, and misleading when there are only a few. Compare floor, view and layout, and treat any average built on a handful of sales as a hint, not a verdict.
- Medians resist outliers better than averages.
- Price per square foot hides differences in floor, view and finish.
- Days on market only means something for resales; brand-new construction sells on a different timeline.
- Quarter-by-quarter lines wobble when each quarter has only a few sales.
The numbers that matter
Median sale price tells you where the middle of the market sat. Median price per square foot lets you compare residences of different sizes. Days on market shows how quickly homes sell. Sale-to-list ratio shows how much negotiation happened between asking and closing.
Common traps
Small samples swing wildly. A building with three closings in a quarter can show a big jump or drop from one unusual sale. Mixed inventory misleads too: a quarter heavy with penthouses lifts the average for the whole building.
Developer sales in a new tower behave differently from resales, so days on market and pricing for them should not be mixed with resale data.
Context beats a single number
Always ask what is behind a figure: how many sales, which floors, which views, and whether any closings were unusual. Mindy's reports show the count next to every number so you can judge how much weight it deserves.
See live numbers
The market page on this site is calculated from current MLS data, and each community page shows its own closings, medians and quarterly trend.
This article is general information, not legal, tax or financial advice. Rules change, so confirm current requirements with the appropriate professional.