Condo costs in the greater Davis area

[duffless2323.livejournal.com]

Do any of you know the going rate for condos in the greater Davis area (by that I mean places where I could walk to Davis Square in under 20 min) but still be in a good/decentish area. I know right in the square would be very pricey - I'm just kind of exploring the idea with each rent check I flush down the toilet,  prices seem all over the place when I look on CL. 

What do you think would be a expected cost for 1 or 2 bed? Have any of you looked lately, if so what are you seeing?

Thanks

Comments

[derekp.livejournal.com]

A couple of Data Points:

1. My wife and I bought a 3 bedroom, first floor condo 1/4 mile from Davis and a stones throw from Tufts last June. It has a bit of yard space, shared garage, and was completely renovated. 459K. We found the place we wanted in a great location and paid asking price because 3 other people liked it too (we actually had the 2nd highest bid and got it when the high bid fell through). It sold in 7 days.

2. The unit upstairs was purchased completely unrenovated. It was in terrible shape. It was about 1100 Square feet or so with an unlivable attic. The buyer put a new roof on with a master suite on the 3rd floor. He paid roughly $350K for it, if I'm remembering correctly. Sank quite a bit into renovations, I imagine since it was a gut rehab + an addition.

So my official answer: Not cheap. The cheapest of the places we saw when looking that didn't require significant work and was at least 2 bedrooms was asking $340 and was over near RT16.

[cold-type.livejournal.com]

Prices are coming down. A 934-square-foot condo on Washburn Street went for $243,333 on Feb. 1, 2008. A 2-bedroom, 985-square-foot on Morrison in a great loctation went for $350,000 on Feb. 21, below its assessed value. A newly renovated 1-bedroom condo on Liberty Avenue is listed at $250,000. And I've seen some units sitting on the market for months, suggesting prices will come down further. One real estate agent told me: "In this market, no one gets their asking price." I'm sure there are exceptions, but it does look like that's the overall trend. That said, it's still an expensive area.