Above you can see Single Family home sales shown in blue. These follow a similar trend with condo price / sq. ft. over time, with condos pricing slightly higher.
My assumption is that the higher average cost for condos is a result of geography. Most condos in the city are located on the peninsula, in higher-priced neighborhoods. I hope to break out the sales data by neighborhood at some point to determine if this is the case.
One interesting observation is that the gap between condo prices & home prices has grown much larger in recent years. Could this be indicating that more desirable neighborhoods (where these condos are present) have risen faster in price than other parts of the city? Segmenting the data by neighborhood will be the only way to know for sure. More to follow on that idea.