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Realtors have told me that condos do not sell well in a town I used to live in, in Indiana. Someone I know is considering buying a condo in Winston Salem. Do condos sell well in Winston Salem?
I can't provide you with a specific answer, but I also know that, imo, its not possible to make blanket statements about condos in an entire city. Some are in good areas, some are in desirable areas, some appreciate, some don't, some sell quickly, some sit on the market forever.
Your friends realtor should be able to pull market data for the condo community that he/she is considering, or at least condos in that specific area.
Condos sell very well in and around downtown Winston not so much in the suburbs like Clemmons or Walkertown etc...
I've noticed a somewhat similar trend, which is that condos and townhouses (particularly in less desirable or out the way areas) can be priced at a premium when they are brand new, but don't always appreciate or sometimes even decline in price a bit for a couple of reasons:
1. They are now competing with shinier new condos nearby.
2. They may be old enough for the homeowners dues to increase, which makes them less attractive.
This trend accelerates when the condos were built in an area that is somewhat marginal (Class "B" and "C" neighborhoods instead of Class "A" neighborhoods) and were priced near the top of the price range that the area will bare.
The relative who bought a condo in Ardmore (I think) will be selling in a few months and I will know whether condos sell well in WS :-)
He is thinking of doing the selling himself. Any tips? Thanks.
Where is the condo? I might be interested in buying it and keep realtor commissions out of it. Shoot me a private message if you don’t want that specific information in public.
Where is the condo? I might be interested in buying it and keep realtor commissions out of it. Shoot me a private message if you don’t want that specific information in public.
Please keep it private so you don't violate Terms of Service for the forum.
Where is the condo? I might be interested in buying it and keep realtor commissions out of it. Shoot me a private message if you don’t want that specific information in public.
1. The relative is several months from selling his unit. Around that time, I will pass along your interest to him, and if he shows interest, I will private message you.
2. I won't post any specific information here on the public forum.
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