August Repeats July with Eight Sales. A Baker’s Dozen Put Pen to Paper. Inventory Plummets to Nine at Month End. Eight Sold During August

Here are the Homes that Closed Escrow during August!

	Model	NWMLS Number	Original Asking Price	Asking Price when Sold	Final Sale Price	Days on Market	Remarks
1	Chelan	1444960	$635,950	$499,999	$495,000	102	77.84% of Asking.
2	Orchard	1487489	$629,000	$629,000	$629,000	3	Attached but Upgraded.
3	Whidbey	1446286	$725,000	$699,950	$670,000	86	Not Staged.
4	Vancouver	1482649	$715,000	$715,000	$715,000	3	Modest but Tidy.
5	Vashon	1482637	$719,000	$719,000	$719,000	4	Exceptional Millwork.
6	Maple	1494074	$898,000	$898,000	$888,500	1	Greenbelt w/Rockery.
7	Maple	1435672	$1,025,000	$989,000	$970,000	75	Cul-de-Sac Greenbelt.
8	Hemlock	1435984	$1,025,000	$969,950	$972,000	107	Greenbelt w/Rockery.

Homes in Bold & Green; the Elephant Representing SELLERS!

Don’t Fall for Discounts and short-cuts with your most valuable asset. Even amid a market correction, the Elephant’s Seller’s above realized 98.27% of asking price while Brokers with less Trilogy experience averaged 92.76% or 6.5% less. That’s $6,500 per $100,000. Even if Sellers don’t care, I’ll care for them. It’s the Elephant Way.

13 Agreements Aggregate in Escrow

Here’s what Uncle Sam is waiting to collect excise tax on.

With 13 Agreements turned into Escrow, our biggest month of the year by far, one is left to wonder, “Was this our Summer surge?” September will determine if there’s more to come but with a single digit of homes available for sale, unless a barrage of appealing new listings hit quickly, it’s likely this was the biggest bang of 2019 and we’ll have to settle for a year with only one month of double digit sales. We had 10 during April.

	Model	Northwest Multiple Listing Number	Original Asking Price	Asking Price when Offer Accepted	Days on Market	Remarks
1	Townsend	1490020	$555,000	$555,000	33	Near Cascade Club
2	Orchard	1475502	$710,000	$690,000	27	Corner Stand-Alone
3	Sammamish	1459868	$718,000	$695,000	77	Fairly Near Club
4	Vancouver	1466825	$779,000	$669,000	333	$137K Price Drop
5	Nice	1507297	$848,000	$848,000	7	Gorgeous Home
6	Alder	1422444	$978,000	$875,000	147	$103K Price Drop
7	Hemlock	1487155	$999,000	$969,950	42	Div. 9 Greenbelt
8	Cedar	1481171	$999,000	$975,000	60	Level Greenbelt
9	Maple	1469154	$1,099,000	$998,000	81	$101K Price Drop
10	Cedar	1443578	$1,039,000	$998,000	113	Pristine Home
11	Monticello	1410259	$1,165,000	$1,049,000	171	$116K Discount
12	Maple	1494350	$1,100,000	$1,100,000	33	16^th Fairway
13	Maple	1459812	$1,275,000	$1,199,000	68	16^th Fairway

Home in Bold & Green; the Elephant Representing SELLERS!

Remember, Pending Sales are as of the last day of the month. It’s an accurate way to review sales month over month.

As cited above, the market did require a slight correction in pricing for active or new listings over the last 60-90 days. The key word is “slight”, meaning under 5% to get traffic to pick up. Yet I see Veteran Brokers and even former and current Trilogy Resident Brokers making much bigger drops in price to stimulate offers. Six-figure drops, if not distressed Sellers, are lack of effort or inexperience…period. In 20 years, I’ve never had one. This isn’t a market for part-timers. The Elephant works full-time, which is going to be a key ingredient to Seller success in these more volatile times.

Nine Lives Lying in Wait…
Trilogy Inventory as of August^31st, 2019

	Model	Northwest Multiple Listing Number	Original Asking Price	Current Asking Price	Days on Market	Remarks
1	Chelan	1507463	$468,950	$468,950	13	ARCH Home
2	Vashon	1473402	$679,000	$665,000	73	Backs to Pkwy.
3	Washington	1436460	$734,000	$724,000	145	Newer 1 ½ Story
4	Whidbey	1488322	$775,000	$775,000	52	Nice Greenbelt Home
5	Bainbridge	1441906	$815,000	$784,950	136	Best Bang for the Buck!
6	Cedar	1513590	$948,000	$878,000	52	7.5%+ drop by 1%ers
7	Maple	1503179	$994,000	$994,000	7	Lovely & Near Club
8	Hemlock	1469288	$1,195,000	$999,950	299	strong>$195K Price Drop
9	Cedar	1512631	$1,100,000	$1,100,000	3	Entertainment Sized Deck

Remember, this inventory is as of the last day of the month. It’s an accurate way to review sales month over month. Homes in Bold & Green; the Elephant Representing SELLERS!

“The difference between what we do and what we are capable of doing would suffice to solve most of the world’s problem.” – Mahatma Gandhi

Here’s a Recap of Year-to-Date Stats:

*New Days on Market (D.O.M.) Watch!

	Jan.	Feb.	Mar.	April	May	June	July	Aug.	Sept.	Oct.	Nov.	Dec.	YTD
$old	2	4	8	10	4	6	8	8					50
Pending	5	5	11	4	5	7	9	13
Active	9	8	12	20	19	19	18	9
$old D.O.M.	3.5	42	52	36	7	65	38	48
Active D.O.M.	87	95	52	53	69	78	90	87

Final Thoughts:

We’re at 50 Sales for the year. That’s a third less than last year’s 74 by August end. We’ll not hit the 100+ annual sales this year we’ve enjoyed for some time. I’m sure of it and, from my perspective, I feel a slight panic among some Sellers and Realtors alike. The price concessions above support my comment. For scrupulous Brokers, there’s no need for it, but only the requirement of extra study and more concentrated work. Cooler heads prevail. For upcoming Sellers, perhaps hiring an expert over a friend referral or offer of a lower commission will provide you less risk in times like these. If it sounds too good to be true, it usually is.
That’s a wrap for August 2019! Thanks so much for reading!!!

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DEVIN SANFORD