The number of lockboxes on the bubblicious bench, as of Saturday, April 8th was 48. There are 2 buildings comprising the Halstead development, the first has been completed and the units have been released; the second building will, according to an owner in the first, be coming online in 6-9 weeks.
Number of lockboxes on this bench:
2/5/06: 26
3/18/06: 44
3/25/06: 47
4/8/06: 48
After having viewed the inside of the building, the total number of units in the 1st building is approximately 220. Given that the number of lockboxes is at 48, and the only units that would be subject to sales on the market are those in the first building, this means that approximately 20% of ALL available units in the development are on the market at this point.
The fact that at least 48 units from the first unit are on the market now, and that the 2nd (and, based on my observation, bigger) building is coming onto the market in a few months, there should be an overwhelming supply of Halstead units coming onto the market, depressing the price and further straining the flippers that are trying to sell in a less than ideal location.
A big thank you to the citizen reporter who sent this one in. The person is the same one who orginally informed Bubble Meter of the shrine to bubbliciousness. :-)
Tuesday, April 11, 2006
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