New Downtown Raleigh condo auction set for March 20th. Just announced today in the News & Observer, the Residences at Quorum Center are auctioning off their remaining 14 condo units on March 20th at the downtown Marriott hotel.
It seems like a wave of condo auctions has come to Raleigh, as this is now the second major condo auction in the last 6 months for this market, after the West condos had it own successfull auction last Halloween. The News & Observer noted that for the West auction, bids were as much as 40 percent lower than earlier list prices, so the opportunities to buy condos in downtown Raleigh are looking much better.
For this particular auction, starting bids will be from $120,000 up to $325,000. Properties here were previously listed from the $300,000s, according to their main website.
As far as the inventory goes, the condos range from the 764 sq ft, 1 bedroom/1bath all the way up to 2,243 sq ft 3 bedroom/3.5 bath/2 balconies, with 5 different floor plans to choose from, so there is great choice. The building is just gorgeous I think, as I had a chance to tour it last May during the Downtown Raleigh Home Tour.
The official site for the action is here, which you can visit for more additional details.