$12,200,000 - DC Suburbs

Condominium

Challenge
Market Slowdown

The Ashmore is a 404-unit condominium project located in Germantown, Maryland, a suburb of Washington, DC. The developer sold 300 units in the first 18 months of conventional marketing. However, the sales rate fell to less than one unit per month and they wished to close-out the remaining 57 units.

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Solution
Sheldon Good & Company implemented a 6-week marketing plan (PR, social media, newspaper and television advertising) to announce the close-out auction.

Results

  • 900 inquiries
  • 250 auction attendees
  • 57 units (the entire remaining inventory) were sold at auction
  • Total Sales: $12,200,000

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    Ashmore at Germantown