Of the 17 units I documented in my earlier posting about the Artisan, two (units #315 and #713) are no longer listed. Three units have been added (units #203, #309, and #904), bringing the current number of units listed in MLS to 18. Of the 18, five are listed by McWilliams|Ballard, the Artisan's marketing firm; those units are highlighted in yellow in the figure below.
I looked at the data to see what, if any, price reductions are taking place as time progresses and no buyers appear; the data analyzed were MLS listings for the weeks ending March 30 and April 27. The results are striking.
- The "You've Got Nerve" award goes to the owner of unit #305, who raised his price by $14,900.
- As you can see, some owners have taken aggressive pricing action to sell their units. Units #303, #316, and #411 have each had price reductions of at least $50,000.
- Even if some units sell at current prices, transaction costs will surely result in a loss for the seller, e.g., unit #714.
I'll keep an eye on this to see what happens.