Things that make you say "WOW" (pending sale of 22 condos at University Place)


Things that make you say "WOW" (pending sale of 22 condos at University Place)
By Scott Rogers • September 21, 2012
Every once in a while, something unexpected happens in the local real estate market --- say, for example, the bulk sale of 22 condos at University Place! This morning, 22 listings were entered into the HRAR MLS in University Place (South Ave) and then marked under contract --- each priced at $41,000 --- so apparently a $902,000 bulk sale. Each of the properties, as you might imagine, has a common owner. Let's contextualize it.... University Place sales during 2010 = NONE University Place sales during 2011 = 2 sales (med price = $42,600) University Place sales during 2012 (YTD) = 2 sales (med price = $39,500) Active Listings: 10 listings, priced at $59,900 each So what is the "wow"? The sale of quite a few of these condos all at once after very slow sales in the complex over the past few years. And at an apparent price that doesn't seem fantastic relative to recent sales --- unless the actual sales price will end up being lower than $41,000. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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