Bulk Buy Sells 20 out of 30 Units Released!
Congratulations to Realogics for making an impressive amount of sales at The Decatur and Eleven Eleven East Pike with their Bulk Buy sales program! Neither building had previously had any sales for the year. Since releasing 21 condos at Decatur and 9 others at Eleven Eleven, 20 buyers have snatched up the opportunity.
Based on the 20 sales to date, [Sam] Cunningham (Managing Broker and Partner of Realogics Brokerage, LLC) estimates buyers purchased at prices that were between 25 and 30 percent off previous list prices, depending on the product. The pending block of sales are also helping unit appraisers by using an inter-building value matrix instead of relying solely on surrounding market comps. Third party comps alone may temporarily suppress unit values, given the increased activity of condo auctions and short sales within the marketplace.