Trump Tower – White Plains – Sales History - 2006-2010*
The chart below follows the median sales price of 2 BR units at Trump from 2006 through 2009. Sales of 1BR and 3BR units were too sparse to make any statistical trends valid. The average sales price peaked in the second half of 2006. After that there was a gradual decline in the average price which appeared to be leveling off until the the crash of 2008. Like the rest of White Plains, prices declined significantly following the stock market crash. accelerated after the stock market crash of 2008. The current average sales price is $692,000, in a market with low volume which might skew the results. This is roughly a 21% drop off the highs of 2006. This number roughly parallels the drop in price that we have seen in White Plains generally. * All data derived from the Westchester Putnam MLS.
Update on Sales Prices & Listing Prices for Q1 & Q2 2010:
There were four sales recorded for the first half of 2010. Currently two units are under contract. With the recent influx of 10 new listings, there are currently 20 units on the market, creating a significant inventory overhang. At the present rate of sale, it would take about 26 months to get rid of this inventory. The new listings are priced more competitively in order to stimulate sales. The price range for the new listings runs from $565,000 – $1,449,000. Sellers need to be very realistic and price their units appropriately. Trump tower offers a wide price range. The gyrations in average and even median price points must be taken in that context and the general trend is what really matters here. This is a nice buying opportunity – but this is a very difficult market for sellers.
Walkable neighborhood is rated a “Walkers Paradise”
The Trump Tower address at 10 City Place was rated as a “walkers paradise” given a score of 98 on a scale of 1-100. Make no mistake, Trump is at the center of everything. The buyer of White Plains NY condos would be hard-pressed to find a better location in all of Westchester county. The walk score tile below shows how vibrant the immediate area surrounding the complex truly is.
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Further Reading:
What’s Up With the New Listings at Trump Tower White Plains?
White Plains Housing Market Statistics – Q2 2010
White Plains Housing Market Statistics – Q1 2010
© 2009 – Ruthmarie Garcia Hicks – http://thewestchesterview.com. All rights reserved/
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