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SLU prices raising?

By July 27, 2007

Enso, Rollin Street, Veer Lofts

Ben and Ashley (I guess Vulcan doesn’t like me anymore. Sad, I like getting press releases from developer’s marketing companies) let us know that as of August 1st the South Lake Union projects (Enso, Rollin and Veer) will begin holding back inventory and raising prices. It’s basic econ 101. Decrease supply and prices will go up!

Is this strategy justified? You be the judge…

Enso has sold 70 of 100.

Rollin has sold 53 of 208.

Veer has sold 54 of 90.

(This data is a about a month old but it’s been a slow summer so it can’t be that off)

Bonus link: 22 West Lee units on Redfin. On Wednesday they cut the price of two units by $25,000 and two by $50,000.

Other: Summer has been busy so sorry posting has been slow. I’m headed out of town for a few more days so see you Monday.