Above are the lockboxes outside of Quincy Court at 1117 10th St NW. Not quite Logan, not quite NOMA. Near the convention center and loads of other condo/lofts. Walkable to downtown. (A transitional 'hood going from abandoned to "upscale," somewhere on the road from dangerous to no man's land.)
The 13 lockboxes look dramatic and suggest the condo bubble is bursting because there are soooo..... many unsold units. So how come the MLS only has six units listed accordning to ZipRealty?
Upon closer inspection two of the six units are list by JP Real Estate Group and another two by condo marketer McWilliams/Ballard Inc. The JP Group website lists yet another unit as well, so seven total. Sounds fishy. What's going on here? How many units are there? Have the realtors forgotten to remove thier lockboxes after a unit sold? Unlikely.
My dear Watson, units being mothballed by the developer!!! Indubitably. Or maybe not. Prices have begun to creep up, but that could be artificially created by developers holding on to units. If I had deep enough pockets that what I would be doing too.