Late last week, I logged onto the MLS and received quite a surprise. No less than 10 new listings at Trump Tower and an additional 3 new listings at the Ritz Carlton. Some were at very competitive prices.
Did 10 families living at Trump suddenly say “I’m outta here?” No. All save one of these listings trace back to Mr. Cappelli’s headquarters in Valhalla. The last units that have not been sold are on the market now. Most of these units were on the market at various times over the past four years. This time, the asking price has been reduced significantly. They range from $565k – $1.449 million.
Added to the 10 listings already on the market at Trump (most of them resales) this doubles the number of listings currently on the market. Since only five units have sold so far this year – with two currently under contract, these new listings create an inventory overhang of about 26 months at Trump. Taking the downtown collectively, including Trump Tower the Lofts and the listings at the Ritz Carlton – the high end downtown condo market in general has about 19 months of inventory overhang.
People trying to sell to sell their units in the resale market have a tough road ahead. This amount of inventory can definitely be an issue because buyers will have plenty to pick from and can afford to be choosy. If you are selling under these conditions you need to price your unit realistically. For buyers, this is an opportunity. The prices have been trending downward. With this inventory on the market, and prices lowered -the entry point at Trump has never looked better.
White Plains NY Housing Market Statistics – Second Quarter 2010
White Pains NY Housing Market Statistics – First Quarter 2010
To Search for Homes and for further information go to my website/blog with free home search at The Westchester View.
I am always happy to answer your questions and you can speak to me directly on my moble phone: 914-374-5529.
© 2010 Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.
 |
|
|
It is my pleasure to serve the real estate needs of buyers and sellers throughout Westchester County. In addition, I have a niche market for buyers and sellers with pets and their unique needs.
Is now a good time to buy a home White Plains NY? The numbers say YES!!!
Westchester Events – Halloween Happenings – From the Historic Hudson Valley
Furniture Sharehouse Drive – Sat Oct. 15 from 9-3 PM in Armonk NY
Downsizing in Larchmont NY – Is now a good time to scale back?
Westchester Events – Halloween Happenings – Jack O’Lantern Blaze
Westchester Events – Halloween Happenings – Horseman’s Hollow
Fotos on the Fly – The Monarchs of Sleepy Hollow…
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
