The Real Estate Wonk: 33 condos sell in GrandView auction - Baltimore homes, apartments, real estate: Buying, selling, renting and housing news from reporter Jamie Smith Hopkins

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November 16, 2010

33 condos sell in GrandView auction

Quick update on the GrandView at Annapolis Towne Centre auction:

Organizers report that 33 condos were sold on Sunday, more than the 30 they had planned to put on the block. Prices ranged from $275,000 to $610,000, not including the 5.5 percent commission.

That's well below the original listing prices of $415,000 to $995,000, but it's above the minimum bids of $148,500 to $308,000.

More than 400 people showed up for the event, organizers say.

About 50 of the tower's 150 units had changed hands when the auction was announced in October.

Posted by Jamie Smith Hopkins at 7:00 AM | Permalink | Comments (3)
Categories: Auctions

Comments

One could argue that this auction 'set' the prices for luxury condos in Annapolis.

The result isn't surprising as there is no shortage of money in the area and the Towne Centre is quite popular, however; I'm still amazed that there is such a market for condos with massive HOA/Amenity fees...

Posted by: Nick T. | November 16, 2010 10:21 AM

Nick you get to live next to Target.

Posted by: mike | November 18, 2010 3:59 PM

I actually think that is an execellent result for the time of year and state of the economy.

Posted by: Condo Guy | November 27, 2010 12:57 PM

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About Jamie Smith Hopkins

Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
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