U.S. Department of Commerce

Survey of Market Absorption of Apartments (SOMA)



Second Quarter 1997

Table 7. Characteristics of Condominium Apartments Completed During the
         Fourth Quarter of 1996 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            14,200    4,030    100      (X)        90      2.8

Units selling for:
Less than $50,000        300      300      2      1.7        96      (Z)
$50,000 to $74,999     1,800    1,370     13      7.3        97      3.1
$75,000 to $99,999     3,700    2,100     26     10.4        92      1.6
$100,000 to $149,999   5,000    1,770     35     12.4        88      4.9
$150,000 to $199,999   2,500    1,230     18      8.0        93      3.8
$200,000 or more         800      180      6      2.3        64      7.1
Median asking price $112,200  $28,520     (X)     (X)  $109,800  $32,250

Units with:
Fewer than 2 bedroom   1,400      530     10      3.0        94      1.8
2 bedrooms            11,200    3,820     79      6.0        91      2.9
3 bedrooms or more     1,600      400     12      4.6        78      4.1

* One standard error (68-percent confidence interval)
X Not applicable.  Z Fewer than 50 units or less than one-half of one percent.
	  


Go to Detailed Tables for Second Quarter 1997 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