Price and Sales Update

Good news on the sales front for Riverdale Park Station.

They have sold all but one remaining Dawson in buildings 5 and 6 (Lots 40-59) so that means only one completed unit remains for sale.

Building 7 and 8 (Lots 60 - 89) which will probably be completed by the end of the Summer (August/September) and already ALL the Cassidy units have sold even with the $543,000 BASE price tag.   When you consider that the Cassidy's are all end units and also require large add on's to price that are not even optional along with the selected options these are probably all selling in the upper 500's now.   Back when there was only a $25,000 difference between a Cassidy and a Parker (in March 2017) I wrote a blog about how this pricing was totally out of wack and they needed to raise the price of a Cassidy here:

http://riverdaleparkstation.blogspot.com/2017/03/dearth-of-cassidys.html

At that point they had sold all the Cassidy's already and had a 12 person waiting list for Cassidy's and building 3 had not started yet.

Now that there is a $73,000 difference between just the base price of a Parker and a Cassidy along with an additional 35k of options you need to add for a Cassidy the pendulum has may have swung too far the other way.

Although everything I wrote in that blog is still true and the advantages of the Cassidy are still there we are now talking 187 square feet extra for $100,000 now.  But the market is speaking and folks want the extras like the 2 car garage and bigger master closet and extra bedroom and are willing to pay for them...

In addition to all the Cassidy's (8 units) 2 Dawson's and 3 Parker's have also sold in Building 7 and 8.

That means in Building 7 and 8 currently 13 out of 29 units have sold  (16 units remain, all Parker's and Dawson's).

I found out that the lots in building 9 and 10 are not released for sale yet  (Lots 90 - 119).   Seems they are following the same strategy as earlier where they will not sell unless they are at least 6 months from being ready and the foundation work still has not begun on those buildings.

The pricing has stayed at roughly the same level since Fall of 2017 aside from another $5000 bump in Cassidy's in March of 2018

The pricing history on the smallest floor plan (Dawson) has been:

12/9/16:               $415,000
1/22/16:               $425,000
3/2/17:                 $430,000 
3/28/17:               $440,000
6/5/17:                 $443,000
11/5/17:               $440,000


 The pricing history on the middle floor plan (Parker) has been:

12/9/16:               $440,000
1/22/16:               $450,000
3/2/17:                 $455,000
3/28/17:               $470,000
6/5/17:                 $473,000
10/1/17:               $483,000
11/5/17:               $470,000

 The pricing history on the largest floor plan (Cassidy) has been:


12/9/16:               $465,000
1/22/16:               $475,000
3/2/17:                 $480,000
3/28/17:               $495,000
6/5/17:                 $518,000
8/25/17:               $537,490
3/1/18:                 $543,000