So whats sold? Well at The Grande, apparently not much. Q2 of 2008 only produced 4 sales between the two Grande towers. With only 33 active listings, the inventory is down, but it seems like people are still waiting to see whats going to be built around the buildings.
Based on the four second quarter sales, the median sales price at the Grande was $817,500. This is just 1% below the median sales price for the first quarter of 2008.
Of these condo sales, one was a townhouse(larger square footage, with no view brings price per square foot down), one was a second floor foreclosure(no view) and another was a short sale. The fourth was a 30th floor unit that sold for $1,249,000. Needless to say, these sales dont reflect the typical sales here, but then again, 8 of the 33 condos that are currently for sale are listed as short sales, or foreclosures. At nearly 25% thats a lot of distressed listings in a quality, high end building.
Well see where the market takes us, but for now, if you want to make some money, click here.
Click here to see all the condos for sale at The Grande.
Other Must Reads: