The Metzger Report

T.L. Metzger has released their first condominium survey for the Capital Region.

For quite some time, anecdotal evidence suggested to us that there was a growing appetite for condominiums in the Capital Region. A very healthy demand for buildings for potential conversion or land for new construction, primarily from downstate commercial developers and a growing stream of condo buyers created an opportunity for both our Commercial Division as well as on our Residential Division.

As a result we knew now was the time to complete a baseline study whereby future condo activity could be tracked and analyzed.

The Metzger Report summarizes that within the next two years, 1,200 urban condominium units will become available for sale in the Capital Region. Just 600 units were sold in these areas in the past 15 years. Condo listings in the urban market currently range from $93,000 to over $1.2 million dollars.

Click here to read the entire report.

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