There are various elements to consider when doing a valuation or determining the optimum marketing price for a West Chelsea condominium. To begin, current market trends should be considered, such as whether selling prices are increasing or listing inventory is low. The personal expertise and experience of a broker will be crucial, especially when combined with accurate and up-to-date real estate data.
Selling Price of Other Units in the Building
Looking at sales in the same building, such as 35 Hudson Yards, is a good place to start since it gives you the most precise data for establishing the optimum listing price. However, because even units within a building can differ significantly in layout, illumination, and views, it is much more beneficial to compare homes in the same line and on comparable levels.
How Many Similar Units Are Currently for Sale
The same method should be applied with active for-sale listings after looking at recently concluded transactions of similar properties. This will assist you in determining how market supply and demand may be utilized to calculate your unit’s worth. You must be aware of the competition that your property will face after it is placed on the market and the features that will make your listing stand out.
Other Price Influencing Factors
Additional factors may impact the sale price of a West Chelsea condominium besides recent sales and active for sale listings. The view, exposure, building amenities, and fees are some. After you’ve modified your valuation based on these factors and taken into account any condo unit renovations, there are a few more items we recommend you look into: location, access to public transportation, and more.
