Trump Tower White Plains NY – is one of the buildings that dominates the downtown White Plains skyline. It was the first of the high rise complexes to go up in the city and it was the tallest building in White Plains until the Ritz made its appearance at the end of 2007. As far as White Plains condos go, Trump ranks among the most luxurious. This is one complex people are always asking about. So I’m giving an update near the end of the 3rd quarter in response to all the questions about Trump and the Ritz. For more information, you might want to visit my web page for Trump Tower which has more information than will be presented here.
The chart below depicts the sales price history at Trump White Plains. The red bars represent the years before the crash through 2008. The green bars depict the years following the crash and the bar in purple represents the present year which has over one quarter left to it. As you can see, sales prices peaked in 2006, right after the complex opened. Prices remained high, but not as high through 2009. Then the sharp drop in median price from $775,000 to $670,000 happened in 2010. Since that time prices have made some additional drop of about 3.7% but sales volume indicates that prices are stabilizing.
The sales volume tells the story. Trump is definitely selling well this year which is a strong indication that prices have hit that sweet spot where they contracts are being made and are holding together. After plummeting in 2009 – sales were back with in 2010 – and are standing strong in 2011. Although sellers have to be realistic – so do buyers. I’m seeing a lot of low-ball offers that lose in the end. If everyone is realistic – there’s plenty of great buying opportunities.
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