Price and Sales Update

Sales have slowed down due to seasonal factors and aggressive price hikes.

Buildings 1-4 are completely sold and almost all of these units have been moved into now.

Building 5 which is slated to be completed in December still has 5 units available.  (1 Parker and 4 Dawsons).   The drywall on this building just went up and these units have been listed in the MLS.

Building 6 which is slated to be completed in January still has 10 of the 13 units remaining for sale.  (see below)

With 5 units from building 5 already listed in the MLS and 10 more set to hit the MLS within another month or so I am not surprised to see them cut prices here especially with winter rapidly approaching.  They did hold the Cassidy price at the same level and still are no longer offering half off on options.

Once building 6 is completed in January, "Phase 1" is completed.   I am expecting a pause before they start on buildings 7-10.

This will be good for the community because it will give them time to sell the inventory they have on the books and also give the retail more time to develop..   I still feel confident District Taco will open this month and Burton's is opening in January.  Also we should see what they have planned for Village Green  (between Building 6 and 7).  I expect a few sculptures will be installed there as the plan call for a "Sculpture Garden" installed there... 

The bridge to the Discovery District should also open in the next few months. 

By the time they are selling "Phase 2" we will be coming out of the winter months and I would not be surprised to see the prices in Riverdale to continue to rise as a lot more things in this community will have came together by then.

In the meantime moving the 14 units during the holiday season/winter may be a challenge for Stanley Martin.

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