Condo Prices Head
Lower Across U.S.

Buyers are backing out of condos, according to a National Association of Home Builders survey, which says 28% of sellers reported increased sale-cancellation rates in the fourth quarter of 2007 compared with a year earlier.

Place/Price: Brooklyn, N.Y. / $1.35 million

Taxes: $125/year *

The Property: 3 bedrooms, 2 baths, 1,460 square feet

Description: The unit has a dining room, laundry, dishwasher, hardwood floors and marble baths. It can be joined with Unit #20-A for a 2,800-foot 5-bedroom home. The Schaefer Landing condos are waterfront.

Notable: About two-thirds of builders reported lowering prices to bolster sales. The average price reduction was 11%. More than 70% of the builders reported including optional items at no cost to help boost sales, or they paid closing costs.

Place/Price: Vero Beach, Fla. /$2.59 million

Taxes: $36,000/year

The Property: 2 bedrooms, 2½ baths, 1,745 square feet

Description: This furnished unit has mahogany wood custom cabinetry and granite countertops in the kitchen and baths. There are also hurricane-resistant windows and doors throughout.

Notable: The total number of units sold in the South last year decreased 33.7% from a year prior, compared to 25.1% in the Northeast and 33.3% for both the Midwest and the West, says the National Association of Realtors.

Place/Price: San Francisco / $3.1 million

Taxes: $35,6500/year

The Property: 3 bedrooms, 2½ baths, 1,630 square feet

Description: This corner unit with curved windows has a balcony off the living area. The master suite has a soaking tub and separate shower. The countertop is marble and the cabinets are walnut.

Notable: The median condo sales price for San Francisco increased 2.7% from December to December, according to the NAR. Nationwide, the greatest fluctuations were in Bismarck, N.D., up 20.8% and Cape Coral, Fla. down 26%.

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