Honestly I think it's just too many expensive condos on the market. Sure--the market will correct itself. If they don't sell, the developers will either cut price or rent them out. But I am still struggling with the pricing.
I am doing a total rehab on a house right now at 413 N. Willow. Down to the studs and beyond. Everything will be new and the very best quality you can get. Wooden windows, cedar shingle siding, foam insulation, hybrid heat, expensive baths with heated floors, clawfoots, jacuzzis, etc., two new huge real stone fireplaces, pocket doors, cabinets built on-site--you get the idea. I am pulling out all the stops on this house and no cost will be cut. When done, it will be priced in the $200-210 per square foot range for a 2000 square-foot house. I just don't see how the condo developers can ask that or in many cases much more than that for their units. My house on Willow is in a great location. Two blocks from Dickson and four blocks from the square. Why should a condo cost more than this house??