When Will Olive 8 Sell Out?

I’m guessing three to four years. We’ll have a better sense of how quickly they sell once we can watch a few months of sales at the reset price and use that as a projection for sales velocity. The developer seems to be counting on three years because that is how long they’re construction loan has been extended. Keep in mind there aren’t any new buildings being built but that Escala, 1521, Enso, Gallery all are still selling units. Of course if it does sell out early, there will always be resales and for many buildings sold during the bubble resales are selling below their new construction prices.

What’s your guess?

To help you out check out Tim’s recent post on Seattle Bubble, Olive 8’s Unconvincing “Reset” Marketing Strategy featuring a chart comparing unit prices over time:

Disclaimer: Realogics and Olive 8 are Urban Living advertisers.