Buyers get a steal of a deal on luxury condos | Home & Garden

PORTLAND, Ore. - Opportunistic buyers scored some deals on luxury condos at South Waterfront.

A total of 50 units from the city's largest condo project, the South Waterfront's John Ross Building, went up for bid on Sunday.

The condos had been listed for an average price of more than $700,000 per unit but some went for half that at auction, with an average sale price of $315,000.

Since last year, the number of unsold condos in Portland has dropped from 2,500 to roughly 400 today.