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Old 12-03-2007, 02:25 PM
 
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Let's say there is a condo community with a unit priced in the 190s. The same unit in a new upcoming subdivision, 2 miles away is going to be starting in the 220s. How does that affect pricing of the resale? Do resales generally sell for less than new construction or would the value of the same exact unit in the new community raise the price of the resale which is just down the road? Resales were built in 2004.
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Old 12-04-2007, 06:32 AM
 
Location: SW Austin & Wimberley
6,330 posts, read 18,005,944 times
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The question is really too vague to answer, but if I had to, I'd say "no", the scenario you outline isn't one in which one condo complex would affect the value of the other. They are too far apart and the pricing. People are always, in general, willing to pay more for new homes vs. reslae. Resale almost always gets the short end of the stick when competing against new.

Hope that helps.
Steve
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