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Housing

Buying a Trump Condo Cheaper Now Than Before 2016 Election

Photo of Paul Ausick
By Paul Ausick Published
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Buying a Trump Condo Cheaper Now Than Before 2016 Election

© flickr user mindfrieze / Wikimedia Commons

Ahead of the November 2016 that put Donald Trump in the White House, condominiums available for sale in Trump buildings outside New York City commanded a premium of 28% to condos of comparable luxury in the same city. Three years after that election, the premium on a Trump condo has dropped to 20%.

The data was reported Friday by online real-estate firm Redfin based on luxury condos listed for sale in 10 Zip codes outside New York City, which was excluded because multiple listing data was not available for transactions at Trump properties. The analysis includes sales of Trump-branded condos and other luxury units in cities with Trump properties including Hollywood Beach, Florida; Sunny Isles Beach, Florida; Honolulu; Chicago; Jersey City, New Jersey; Stamford, Connecticut; Las Vegas; New Rochelle, New York; Shrub Oak, New York; and White Plains, New York.

Redfin also noted that 81% of online listings in 2015 mentioned Trump’s name, while just 65% of condo listings today mention the president’s name.

Redfin chief economist Daryl Fairweather explained, “It’s not surprising that sellers and their agents are less likely to identify a home with Trump now that he’s president, as that could limit their buyer pool. Marketing to just one side of the aisle—even if it’s just mentioning a politician’s name—could mean half as many potential buyers see a home.

[nativounit]

Redfin compiled the data on the comparison between Trump and comparable luxury condos into a tidy chart.

Pre-election (Jan. 2014 – Oct. 2016) Post-election (Nov. 2016 – Nov. 2019)
Median sale price of Trump condos $868,750 $729,000
Median sale price of comparable luxury condos $760,000 $680,000
Average price premium (%) for Trump condos 28.10% 20.40%
Median price per square foot for Trump condos $713 $606
Average price-per-square-foot premium (%) for Trump condos 18.60% 8.00%
Median days on market for Trump condos 95 (versus 67 for non-Trump condos) 86 (versus 57 for non-Trump condos)
Total Trump condos sold 532 542

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Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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