U.S. Department of Commerce

Survey of Market Absorption of Apartments (SOMA)



First Quarter 1998

Table 7. Characteristics of Condominium Apartments Completed During the
         Third Quarter of 1997 and Percent Sold Within 3 Months (Revised)
Not Seasonally Adjusted

(Privately financed, nonsubsidized, unfurnished, condominium apartments
in buildings with five units or more.  Data regarding number of bedrooms
and asking price are collected at the initial interview, i.e., 3 months
following completion.  Details may not sum to totals because of rounding.
Medians are computed using unrounded data.)


                       Total
                      condo-             Per-              Per-
                      minium             cent              cent
                      apart-               of              sold
                       ments  Standard  total Standard   within  Standard
                    completed   error*  units   error* 3 months    error*

U.S. Total             7,200    1,530    100       (X)       75      4.9

Units selling for:
Less than $75,000        700      460     10      5.8        42     10.8
$75,000 to $99,999     1,700      560     24      5.6        85      3.9
$100,000 to $124,999   1,700      570     24      5.5        86      2.7
$125,000 to $149,999   1,200      390     17      4.3        57     13.0
$150,000 to $199,999     800      290     11      3.8        67      9.2
$200,000 or more       1,100      620     15      8.1        86      2.7
Median asking price $117,200  $15,760     (X)     (X)  $115,700  $14,850

Units with:
Fewer than 2 bedroom     500      110      7      1.6        60      4.3
2 bedrooms             4,700      990     65      7.4        73      6.1
3 bedrooms or more     2,000      850     27      8.3        81      3.0

* One standard error (68-percent confidence interval)
X Not applicable.  



Go to Detailed Tables for First Quarter 1998 Absorptions
Contact George Boyd at 301-763-3199 or mail to george.t.boyd@census.gov for further information on the Survey of Market Absorption of Apartments Data.

Source: U.S. Census Bureau, Social, Economic, and Housing Statistics Division
Last Revised: September 30, 2011