Since the RMLS market action 10 days away, I couldn’t wait to see the stats for the Pearl District. I did a search for each building in the Pearl and came up with these stats. I will compare these to the overall condo market when those stats come out from RMLS on the 15th.
Some interesting things to note were how many active listings we actually have compared to what is pending and what went sold in February. If there are 207 listings and only 37 pending listings that would give us an absorption rate of about 5 months. Keep in mind though that with many of these pending or closed sales the rates may be thrown off with extended close dates. Case in point would be 937 Condominiums. They currently have 28 listings and only 1 unit pending. Obviously since the project is not yet completed, it would be unfair to say that they have 28 months of active inventory.
Including the 937 Condominiums, we have 10 buildings with 10 or more listings in inventory.
The Casey is high on the list with 20 units at an average listing price of $1,296,850, while the Streetcar Lofts is on the bottom with 4 listings with an average Listing price of $284,975.
Check out the full list of data below:
