The median sales price of condominiums declined 2.2 percent annually in May to $354,100 amid a large imbalance in the number of sellers and buyers, real estate brokerage Redfin said in a July 1 statement.
The price dip is the second-largest year-over-year decline since 2012. The only time condo prices posted a bigger yearly decline was in April 2023, when prices fell 2.9 percent, said the company.
