If you search the Mecklenburg Real Estate Lookup site, you will now find a total of 8 sales. This confirms the 3 sales mentioned in our last post. So let’s review where we are: units 405, 805, 807, and 1402 have all closed for contract prices between 229K – 340k. Then we have another block of units: 3307, 3504, 3902, and 4102, all of which closed from $1,020,000 – $1,130,000. That is quite a split in price ranges!
One of our readers shared the word that construction is now pretty much winding down at the Vue. Now, all that is left is for the units to sell. The question is, what is going to drive future sales? While I must say I am quite taken aback by the 4 high-end sales of 1M or more, in retrospect I shouldn’t be surprised, especially if I read some of my past blog posts. There are going to be a set of people whose situation is such that it makes sense for them to move into the Vue. That set, if you are the Vue Developer or Vue lender, is proving itself to be frighteningly small. Close to 200 closings should have occurred by now. To have only 8 is a testimony to how fast and how furious the economic downturn took its toll on this project.
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