Five MORE Fast Facts About
Our Condo Market
1) Inventory is dry as a bone. More units sell each week than come on the market. THAT fact has been true for EVERY week since February 2017.
2) The Hopkinson House remains the KING of condo demand and sales (In my opinion). A frenzy on a recent unit garnered multiple offers and I have NEVER (in my 29 years) lost a bid with a cash, no contingency offer that was WAY over asking. Never. I did this time.
3) It is possible for new condos to depreciate after (say) a year of being sold. A buyer will pay a premium for unit that has never been occupied/is not a resale.
4) If the spring market was hot, the fall market of that year will also be hot. Just at about 75% the pace though.
5) August is the slowest month of the year for condo sales in town - not December. If someone has the $$ to buy a condo, they also have $$ to sit their butt on the beach somewhere.
6) If you are holding your breath for a new condo around say $600 a square foot. Yeah, good luck with that. Ain't happening anytime soon. In a sea of Toyotas and Mercedes, what we see coming down the pike are Bentley's and Rolls Royce priced condos.
There's Six. Counting has never been my strong point. Oh here is a bonus one....the most under utilized amenity in any condo building here in Center City?
Swimming Pool. Hands down.