The Original Trilogy at Redmond Ridge Market Report October 2016

The Original Trilogy at Redmond Ridge Market Report October 2016

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The Original…Trilogy at Redmond Ridge Market Report

Compliments of Your Neighborhood “Premium Service” Realtor Devin Sanford

October 2016

October Sales Spooky!
Pending Contracts Holding Steady.
World Events Slowed Showings…

8 Homes Sold During October
          Here’s What Sold Last Month!

Model Original Asking Price Asking Price when Sold Final Sale Price Days on Market Notations
Orchard $485,000 $485,000 $485,000 3 Attached on Two Sides
Union $519,000 $519,000 $519,000 11 Territorial View
Orchard $519,000 $519,000 $529,000 4 Quad Setup & Lovely
Whidbey $679,500 $679,500 $679,500 4 Close to Club
Bainbridge $749,950 $749,950 $731,000 38 Partial Greenbelt
Hemlock $775,000 $739,000 $739,000 34 Greenbelt Home
Vancouver $739,000 $739,000 $740,000 2 Close to Club
Alder $980,000 $890,000 $870,000 71 Over 11% Price Drop!

Home in Bold & Green; the Elephant serving a Buyer!

October sales reverted to the eight sales converting in August yet were cut in half from the 16 surge of September. Just three of the 10 homes waiting to close escrow at the end of September managed to close in October. No doubt, some of the others will set up sales for November. There were no significant number of homes to come on the market and then close quickly during the month. This is not surprising as many buyers are seeking longer closings while they get their homes ready for sale. There are a few sellers that are taking advantage of what many believe is the peak of the market so they’re putting their homes up for sale with some to no certainty of where they’re going. This can create a no pressure situation for both sides and everyone gets a little more time to accomplish things before moving.

The two homes in RED not only spent more time on the market, by far than the other half dozen, they sold for far less than the original asking prices. Oddly enough, a post card ended up in most of our mailboxes boasting the Sellers saved $18,690 on the Hemlock selling for $36,000 less than asking price and a savings of $21,750 on the Alder which ultimately closed escrow for a whopping $90,000 less than the original asking price. I’m no M.I.T. graduate but it’s not hard to figure out that the Sellers lost far more than the two percent or so they thought they were saving when they signed up with a discount broker.

10 Homes in Escrow Match September
              Here’s what’s currently “PENDING” the Close of Escrow

Model Original Asking Price Asking Price when Offer Accepted Days on Market Notations
Chelan $337,512 $337,512 12 ARCH Pricing Restriction
Sammamish* $431,952 $431,952 26 ARCH
Townsend $485,000 $485,000 32 Stand Alone & Greenbelt
Washington $640,000 $620,000 89 Greenbelt Home
Bainbridge $659,000 $644,900 47 YTD Hemlock Low for Price
Whidbey $739,000 $739,000 2 Across from Club
Hemlock $799,000 $799,000 2 Greenbelt Home Site
Maple $875,000 $875,000 0 Gorgeous Greenbelt Home
Hemlock $949,000 $949,000 4 Golf Course Home
Maple $998,000 $974,900 32 Golf Course/Close to Club

*Homes Pending Inspection

Home in Bold & Green; the Elephant serving Buyers and Sellers!

Home number seven is the Elephant being on his toes for some terrific new Trilogy Members; a lovely, lovely home. Home number eight was under contract before the sign could be hung on the yard arm, being very rare and well-cared and on a special, elevated, greenbelt home site. The ARCH Chelan is under contract yet seeking a backup offer and the ARCH Sammamish is still subject to inspection.

As I finally get the opportunity to write this October report, we’re exactly eight days into November and I find that only one home listed on the NWMLS has gone under contract since October 19th. It’s a slower time of I’m no M.I.T. graduate but it’s not hard to figure out that the Sellers lost far more than the two percent or so they thought they were saving when they signed up with a discount broker.

Home number seven is the Elephant being on his toes for some terrific new Trilogy Members; a lovely, lovely home. Home number eight was under contract before the sign could be hung on the yard arm, being very rare and well-cared and on a special, elevated, greenbelt home site. The ARCH Chelan is under contract yet seeking a backup offer and the ARCH Sammamish is still subject to inspection.

As I finally get the opportunity to write this October report, we’re exactly eight days into November and I find that only one home listed on the NWMLS has gone under contract since October 19th. It’s a slower time of year as the weather changes, our beloved Seahawks are back on the field and many are cheering for their favorite team in the World Series. This October is slower than 75% of others as we, once again, experience an election year. I’d anticipate a small waive of listings and sales immediately after we welcome our new Chief of Staff. Then, we should trickle just enough sales through December to result in the largest number of yearly sales in Trilogy since Shea Homes broke ground over 15 years ago. The record is 112. We are at 105.

Average Home spends 43 Days on Market
       A Lucky Seven Available for Buyers.

Model Original Price Asking Price Days on Market Elephant thoughts:
Vashon $579,950 $579,950 11 Chic & Modern Craftsman
Vashon $619,000 $609,000 59 Back to Back Corner Lot
Whidbey $625,000 $625,000 20 Price reduced big later in November
Bainbridge $739,995 $690,000 76
Vancouver $739,000 $739,000 24
Maple $835,000 $835,000 25 Price Reduced in November/Discount Broker
Maryhill $1,250,000 $1,175,000 86

Note: All currently available listings are posted at www.DevinSanfordHomes.com on the home page.  Hover over the Trilogy tab and select “Current Trilogy Listings” from the drop down list. For all listings, click “View all Trilogy at Redmond Ridge Listings.” Within this report, we share what is available at the first of the month for consistent and measurable month over month reporting.

Home in Bold & Green; the Elephant serving Sellers!

Here’s a Recap of Year-to-Date Sales:

Jan. Feb. March April May June July August Sept. Oct. YTD:
$old 3 7 11 9 9 20 12 8 16 8 105
Pending 9 11 11 15 18 12 10 17 10 10  
Active 5 8 2 10 9 6 11 4 9 7  

How are the different floor plans measuring up?
Here’s the rundown through October of 2016:

7 Chelan, 8 Union, 1 Sammamish, 6 Washington = (22 Lakes Collection), 0 Angeles, 2 Townsend, 11 Discovery, 6 Orchard, 2 Madison= (21 Port Collection), 1 Vashon, 8 Whidbey, 0 Monaco, 11 Bainbridge, 3 Vancouver, 0 Nice = (23 Island Collection), 15 Hemlock, 4 Cedar, 4 Maple, 2 Alder = (25 Forest Collection), 7 Monticello, 2 Oakwood, 1 Redford and 4 Maryhill = (14 Estate Collection).

2011 2012 2013 2014 2015 2016
Resales 74 97 103 99 102 *105
Shea Homes New Construction 9 10 9 3  
Total $old 83 87 112 102 102 105

*Year to Date

That’s a wrap for October. We hope these facts have been helpful. We measure our success by how well we serve others. If you have a real estate need, just let us know. Thanks for reading!

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D. Sanford

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