Condos Overtake Houses in Appreciation
The Seattle Times recently reported that condos in King County has surpassed single family homes in appreciation. Part of the reason is due to a new mentality about condo living, that it’s no longer for people who can’t afford single family homes. As new condos are being built in downtown areas, it’s becoming a lifestyle choice.
In the first six months of this year, condos in King County have appreciated 21.9 percent a square foot compared with the same period in 2005. That’s slightly faster than the 19.7 percent that single-family homes appreciated in the first half of this year.