As of September 2014, over the past 12 months, 360 has observed 54 transactions recorded, averaging $511.57 per foot, with a median price of $505.64 per foot.
Average = $505/ft ($390,058)
Max = $566/ft ($485,000)
Median = $505/ft ($379,000)
Minimum = $463/ft ($344,000)
Average = $524/ft ($605,160)
Max = $690/ft ($761,000)
Median = $510/ft ($612,500)
Minimum = $471/ft ($500,000)
Prices for 360’s resales should continue to grow steadily, so long as inventory of new construction remains low in the downtown condo market. With Seaholm Condos now 80% under contract (and wait list expected to fill-in the remaining 20%), currently, the only building with new product is the Austonian.
We expect to hear an announcement for one or two new condo high-rises this year, but anything announced would not deliver for another 18-24 months from a new project breaking ground.
Investors and landlords across downtown are observing rents remaining flat, or even decreasing, as the number of apartment buildings that have been delivered are absorbing much of the rental demand.
In the short run, we expect to continue to answer questions about how views will be affected by Seaholm and Block 1. Once completed the additional ground floor shopping that comes along with Seaholm will reflect positively on values at 360.
For a current estimate of your condo’s value, call Jude Galligan, REALTOR at 512-236-8898