Ten Homes Sold During July… Only Five Available for Purchase…
The craziness that has been going on in the Seattle Metro area for years has finally hit Trilogy. Once again, demand for upper end homes seems to be the latest trend. This is good for Sellers who have been waiting for the right time to move onto their next destination and buyers feel comfortable in the bang they’re getting for their buck with the new investment. Deciding when to make the move to the sought after Resort Living Lifestyle often involves getting a good price for the home you’re leaving. With sales in the Seattle area up nearly 20% over last year, despite the consistently low availability of inventory, maximizing net proceeds has never looked better. Loosened up pocket books competing for minimal inventory is resulting in fast, full-price sales; many of them cash. If it were not for super-fast turnover, the mere number of listings would have proven dismal for sales. Homes are coming on and off the market at record pace. This means buyers have to act fast or miss out and sellers must prepare quickly to compete. Unfortunately, we have seen this resulting in brokers rushing the presentation with terrible staging and poor quality photos just for the quick sale. Don’t expect the Elephant to follow suit. Ensuring our Sellers get top dollar means never sacrificing quality and still, we’ll serve no wine before its time to be sure buyers give your home a 100 rating.
Take a look at what’s $old:
|
Model |
Original Asking Price | Asking Price when Sold | Sale Price |
Days on Market |
| Chelan – ARCH priced home | $296,966 | $296,966 | $296,966 | 3 |
| Townsend | $439,000 | $439,000 | $439,000 | 4 |
| Bainbridge | $619,000 | $599,950 | $589,000 | 72 |
| Whidbey | $599,950 | $599,950 | $600,000 | 4 |
| Vancouver | $650,000 | $650,000 | $636,000 | 11 |
| Nice | $779,950 | $779,950 | $779,950 | 2 |
| Cedar | $799,000 | $799,000 | $799,000 | 2 |
| Hemlock | $865,000 | $865,000 | $890,000 | 1 |
| Maryhill | $1,075,000 | $1,075,000 | $1,075,000 | 2 |
| Monticello | $1,075,000 | $1,075,000 | $1,077,000 | 10 |
*Homes in bold & Green; the Elephant’s Work representing Sellers.
Take a quick look at this recap of home statuses so far Year to Date:
| Jan. | Feb. | March | April | May | June | July | |
| $old | 6 | 5 | 6 | 9 | 13 | 8 | 10 |
| Pending | 4 | 8 | 14 | 15 | 12 | 11 | 13 |
| Active | 15 | 15 | 14 | 9 | 8 | 11 | 5 |
Here’s What’s Currently “Pending”
These 13 are homes, in Trilogy, which have reached mutual terms between a buyer and a seller but have not yet recorded with the county. We won’t know the sale price until the deed changes hands and excise tax has been collected by the county. These seven have made it through the inspection process.
| Model | Original Price | Asking Price | Days on Market | Elephant thoughts |
| Orchard | $474,900 | $450,000 | 60 | Attached on 2 sides |
| Washington | $519,500 | $495,000 | 124 | Vine Maple Greenbelt |
| Vashon | $514,900 | $515,000 | 140 | Back to Back |
| Vashon | $549,900 | $529,900 | 51 | Below Homes Above |
| Bainbridge | $649,000 | $649,000 | 24 | Adair Creek Way |
| Bainbridge | 659,000 | $659,000 | 2 | Close to Club |
| Bainbridge | $675,000 | $675,000 | 7 | Greenbelt |
Homes in bold & green indicate the Elephant is working for our Sellers.
Please, keep in mind all the following data is as of July 31st, 2015 at midnight for month over month accuracy. The statuses of most of these Trilogy homes have changed by the time you receive this report. We’ll serve no wine before its time. Well, we’re decanting our best this month because we’ve been flat out peddle to the metal. By the time I’m putting pen to paper, so to speak, four of these five have already come under contract. If a home hasn’t sold in this market, there’s a problem with either the price and/or the presentation; period.
Here’s What’s Currently “Pending Inspection”
These six of the 13 have reached mutual agreement but have not yet passed the inspection phase and moved onto “Pending” status. Pending means the deal is sitting in escrow simply waiting for the deed to be conveyed and excise tax to be collected.
| Model | Original Price | Asking Price | Days on Market | Elephant thoughts: |
| Chelan | $410,000 | $385,000 | 65 | Close Wall Behind |
| Union | $465,000 | $455,000 | 55 | Close Wall Behind |
| Union | $459,000 | $459,000 | 20 | In “The Hood” |
| Union | $485,000 | $485,000 | 5 | Opulent Upgrades |
| Whidbey | $585,000 | $585,000 | 7 | Greenbelt |
| Maple | $830,000 | $825,000 | 43 | Greenbelt, Lovely Home |
It’s Very Much a Seller’s Market
There was a strange quiet beginning July 3rd with no sales or activity in Trilogy for nearly three weeks. I thought the usual fall slow may have arrived and then, BAM, six homes went under contract between July 23rd and the end of the month. Temperatures may be hotter than ever before but there’s been a snowball of activity since. With 13 sales pending and half of August left, we may see scorching sales along with our 90+ degree days. Rain or Shine, we’ll keep you in the know.
Here’s What’s Available:
| Model | Original Price | Asking Price | Days on Market | Elephant thoughts: |
| Washington | $529,000 | $529,000 | 44 | Rockery & Greenbelt |
| Vancouver | $569,000 | $544,000 | 183 | Backs to Parkway |
| Hemlock | $729,950 | $729,950 | 60 | Corner lot/Greenbelt |
| Hemlock | $739,950 | $739,950 | 4 | Close to Club |
| Hemlock | $744,900 | $744,900 | 123 | Greenbelt |
*Homes in bold & green; the Elephant at work.
The Match Tic
| Low – YTD | High – YTD | Prior Month | June |
| 26 | 41 | 32 | 30 |
The total amount of all Northwest Multiple Listing statuses measured 30 at month end. Status may include Active (Homes currently available for sale), Pending Inspection (Homes under contract but still in the home inspection process), Pending (Homes that have worked through the inspection process successfully), Sold (Homes that have closed escrow), Contingent (Sold homes that are contingent upon the buyer selling their own home) and TOMK or BOMK (Homes that are either Temporarily Off Market or Back on Market after being temporarily unavailable.)
Note: All currently available listings are posted on this site. Just go to the Trilogy tab and select “Current Trilogy Listings” from the drop down list. For all listings, “Click” the large button on the right. It says, “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.
That’s a wrap for July. We’ll see you next month!