Brownstone Real Estate Market Update August 2017

August 2017

Well Hello August!

After a very slow and somewhat concerning three months of the summer, that only saw two of many listed Brownstones sell, August almost cleared the slate of Brownstone listings

A very strong month of sales saw every Brownstone but one sold in the month of August. Many of the listed units had been in a cycle of listing/price reduction and then relisted since May, without any sales activity. Then, with the Market showing some stability, the Buyers returned in August to scoop up the Brownstone inventory.

The overall sale price of the Brownstones returned to earth from the elevated multiple offer craze, and landed exactly where they were selling in late 2016/ early 2017. The actual value retained throughout this shifting market has been quite impressive for these units, and they remain one of the best deals in the region given their location, and the quality of life offered when living at the 895 Maple Avenue address.

There have been some ongoing improvements in the complex with the 700 block doing some extensive waterproofing upgrades, along with the 500 block continuing with their waterproofing upgrades, and the 300 block brick work maintenance/repairs, along with some waterproofing as well.

The two highest sale prices since the market shift have been attained by my clients!

If you’re looking to Sell Your Brownstone, go with the Realtor who knows them best, and is continually getting the highest sale prices in the complex.

Contact me today to learn how 905-335-8808

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