The number of new condominiums put on sale in the Tokyo metropolitan area in March totaled 9,566 units, down 11.5 percent from a year earlier, the Real Estate Economic Institute said Monday.
The ratio of sales contracts signed for new units dropped to 78.8 percent, down 1.2 percentage points from March 2002 and down 0.2 point from February, the private institute said.
New condo prices averaged 42.26 million yen per unit, up 1.04 million yen, or 2.5 percent, from a year earlier.
The average price per square meter rose 42,000 yen, or 8.2 percent, to 552,000 yen.
The number of unsold condos stood at 9,881 at the end of March, a decrease of 295 from a month earlier.
In the Kinki region, with Osaka at its center, 3,760 new condos were put on the market in March, down 39.7 percent from a year earlier.
Of the newly offered condos in that region, 70.4 percent attracted buyers, down 3.4 percentage points from a year earlier and down 2 points from February.