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On the Rise

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In January of 2014, new condo prices were up 18 percent over the same time the previous year and had just topped $1,000 per square foot. Now, a year later, prices for new condo construction have risen another 14 percent and are at a whopping $1,178 per square, according to the latest research from the Mark Company. New construction inventory is up by a massive 740 percent over the same time last year, but that is primarily due to new offerings at the super-luxury Lumina building, where high prices are contributing to the overall price rise. [Previously; The Mark Company]