WSJ: A Retirement Wealth Gap Adds a New Indignity to Old Age
I’m sure it varies based on location and other factors, but I did an analysis of sales velocity and pricing over the last year for 3 comparable oceanfront complexes within a few blocks of each other. The complex with the highest HOA dues that has invested in the nicest services and amenities has had 11 sales in the last year with average days in market of only 41. The complex that has done some upgrades and has the second highest HOA dues has had 4 sales and average days on market of 108. The complex that has focused on keeping costs down and has the lowest HOA dues but little investment in upgrades only has one sale in the last year that was on the market for 120 days. Other units went on the market but never sold.
Not advocating a $300K pickleball court, but low HOA dues and low investment in upgrades aren’t helping units sell in this Southern CA beach town.
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