How are all the new pre-sale projects impacting existing resale condos? I recently posted a poll and more than half of voters felt that the new construction is only going to increase the resale units’ prices; approximately 35% of the voters felt that it will have a negative impact on the resale unit, and with 9.2% felt that it is not going to have any impact.
Feel free to participate in the latest SCR poll on the right hand side of this page and vote for the most attractive architecture of all the Belltown/ downtown condos.
Technorati Tags: presale value, resale value, new construction condo, resale condo, investment talk, market opinion, seattle condo market, avenue one
Based on the current poll’s results showting the Parc as the most attractive condo, I suspect the Parc sales center is an active reader of this blog 😉
That 50% of people feel it’s reasonable to spend more on a property in the existing supply because there’s an increase in the supply worries me – it’s economics turned on its head. If the increase in supply is trumped by an increase in demand that is of course another matter. I could see this happening if there’s an increase in the demand of first-time homebuyers, seeing as most of the new construction is probably priced too high for them: existing properties that are affordable may climb a bit if there’s little competition in their price bracket.