2007 Downtown Condo Sales

Dawn Griffin Posted by
Market Conditions Nov 2007

My husband is always itching to move. It is something left over from his first few years out of school when he had a new apartment every year. These days he wants to live downtown. He wants to be closer to work and within walking distance to restaurants and shops. And most importantly he doesn’t want to do any maintenance. My only concern is that we have trouble committing to living anywhere for more than two years. Based on all the choices available right now downtown, I think it is great time to buy. There are ample new projects coming up and more than enough MOTIVATED sellers with re-sales for any serious buyer to negotiate a good deal.

Below is one we just viewed in the Terra Cotta Lofts. It has the same basic floor plan as the many others that are currently listed, but is has more square footage than other 2 bed, 2 bath units making the rooms larger and easier to design. Also the taxes in this building are abated and the condo fee for this unit is relatively low. There is only one downside. Whenever the first owners picked out the upgrades, they stuck with the base package. So there’s nothing really exceptional about the finish. For a person with style and vision though this is a great blank slate. You won’t have to undo someone else’s questionable taste.

#709 in the Terra Cotta building.

terracotta.jpg

This is a CMA Portrait of the other available condos at 1501 Locust including two listings that just went under contract. Looking at price per square foot, this unit is priced well for the building. The average per square foot price in the building is about $164, this one is listed at $143.87 per square foot.

This article was in last week’s Biz Journal. Their information came from the city Assessor’s Office.

Year ……………. Number of Condos Sold in Downtown

2003 ……………. 116

2004 ……………. 140

2005 ……………. 288

2006 …………….. 336

2007 ……………… 362 (not including November or December)

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