Escala To Sell Out in 3 Years?
Yesterday Escala announced that they hit 100 closed sales:
The team here at Escala is celebrating a significant milestone today ? the closing of our 100th home! ?This is a very meaningful number of closings,? says Erik Mehr, Sales Director at Escala, ?buyers see the value is real and are making this their home. It has been great to watch Escala become a vibrant condominium community.
With an average of 8 new deals per month and currently 20 pending, the sales success at Escala continues. See why today’s homebuyers are choosing Escala.
At their self reported pace of 8 new deals a month that puts them at selling out their 265 units in 20 months.
Here’s their closed sales pace from what we can tell based on their email blasts:
|February 8, 2010||6 sales|
|March 27, 2010||–||Re-pricing, new sales team|
|July 22, 2010||38 sales|
|August 27, 2010||50 sales|
|May 4, 2011||83 sales|
|August 11, 2011||100 sales|
Seems to me they’re closing more like 5.64/deals a month putting them on a pace to sell out in 29 months. But given that the last units are always the dog units that no one wants I bet it will be at least three years before Escala sells out.