Inventory stayed at relatively light levels at The Dawn Condominiums in the first quarter, while year-over-year quarterly sales modestly increased. The overall trends may indicate the pandemic-fueled peak has passed, with days on market steadily increasing since the fourth quarter of 2022 and average list prices dropping since last August. Price and condition are critical elements, especially with increasing macroeconomic headwinds and challenges on the financing front for many buyers. The Dawn Condominiums rental-friendly nature will help it to weather the changing climate better than its non-rental-friendly counterparts. Prospective sellers should take note of the changing sentiment, while the number of active units remains fairly small.
