Average Price

In summary, over the past three years, we have seen how supply has decreased more than demand has decreased.  What effect should this have on price?  Laws of supply and demand would suggest an increase in price under these conditions and there has been.  The Average Sales Price for studios in 2009 was $155,185.  In 2011, it was $172,269.  Up 11%.  In 2012, the Average Sales Price of studios was $192,361.  Up another 10%.