Market change?

[Gobears81]

Appraising the same condo I appraised a year ago. Top one is months of supply chart when I appraised it in 2025 and the bottom one is the months of supply chart in the new report.

Guess what happened.

How much lower were you a year later?

I'm starting to see some low commercial sales come through. Not enough to call a trend, but I'm in such a thin market that they can't be ignored. Utilities just went up 25%, insurance said to increase 14% YoY (though I am personally bigger increases than that), and the multipliers on the assessed values are still showing a 10% annual increase. Someone told me that the assessors cannot put different multipliers on commercial properties vs residential, but everybody is getting squeezed here.

 

[Joe Flacco]

How much lower were you a year later?

I'm starting to see some low commercial sales come through. Not enough to call a trend, but I'm in such a thin market that they can't be ignored. Utilities just went up 25%, insurance said to increase 14% YoY (though I am personally bigger increases than that), and the multipliers on the assessed values are still showing a 10% annual increase. Someone told me that the assessors cannot put different multipliers on commercial properties vs residential, but everybody is getting squeezed here.

30%.

But looking at the market building by building, it looks like it's only my building doing that. Prices in almost all of the other buildings are unchanged. Prices are actually higher in some buildings.

 

[Joe Flacco]

It gapped down 20% at the red line and then slid another 10%.