A second downtown Raleigh condominium project is reverting to an auction to reduce inventory.
The Residences at Quorum Center announced this morning that it would auction its remaining 14 condos on Sunday, March 20 in the downtown Marriott on Fayetteville Street.
Starting bids for the condos range from $120,000 to $325,000.
On Halloween last year, West, the 17-story condo project in Glenwood South, auctioned off 32 of its units and recorded $8 million in sales in a single day.
The auctions are a response to a downtown marketplace where a handful of condo projects are going after a shrinking number of prospective buyers.
As the sluggish sales environment has dragged on, more and more projects face pressure to reduce inventory.