Market Report: June-July 2020

Presented By Devin Sanford Homes. Real Estate Stats for June & July 2020. Spring Has Sprung Like a Jack-in-the Box! Prognosticating an Indian Summer for Sales

Five Closings During June

  Model Square Footage NWMLS
Original Asking Price Asking Price when Sold Final Sale Price Days on Market Remarks
1 Union 1550 1590495 $639,000 $639,000 $630,000 29 Discount Broker -Elephant sold for $629K in February,  2018
2 Union 1550 1574511 $679,000 $674,000 $674,000 40 Small Mountain View
3 Whidbey 1670 1592445 $779,000 $779,000 $765,000 5 Lovely, Close to Club
4 Whidbey 1670 1591557 $779,000 $779,000 $775,000 36 Modest but Huge Lot.
5 Bainbridge 1,870 1313845 $839,950 $839,950 $839,950 0 Lovely & Golf Course

The Elephant Representing Buyers, Sellers, and Trilogy Integrity!

Edging out April by one sale, June was a concentration of smaller homes conveying deeds however, with nine additional homes finding their way into Escrow, it was evident things were ramping up for a bigger July. Indications were the usual March and April surge was finally beginning to happen and we could expect the larger budget buyers would emerge soon. When things are slow and inventory is low, neighborhood and prospect connections are an asset. The Bainbridge was such a situation with the Elephant pairing the needs of two parties with an un-listed sale.
July Sales Escalate to Nine!

  Model Square Footage NWMLS
Original Asking Price Asking Price when Sold Final Sale Price Days on Market Remarks
1 Chelan 1300 1598860 $574,500 $574,500 $570,000 20 Modest Upgrades
2 Discovery 1350 1612293 $639,000 $639,000 $625,000 13 Lovely – Below Wall
3 Discovery 1350 1615687 $648,000 $648,000 $648,000 10 Close to Club
4 Union 1550 1601015 $650,500 $650,500 $650,500 4 Gorgeous -Novelty  Hill Behind Woods
5 Vashon 1690 1588230 $764,500 $764,500 $750,000 53 Division 6
6 Vashon 1560 1614181 $772,000 $772,000 $772,000 7 Meadows Neighborhood
7 Hemlock 2170 1607093 $1,000,000 $1,000,000 $970,000 20 Terrific Greenbelt
8 Oakwood 2680 1620442 $1,150,000 $1,150,000 $1,140,000 14 Exceptional Home
9 Maryhill 3360 1578358 $1,398,000 $1,348,000 $1,298,000 91 $100K Below Asking!

I am super pleased to see things are picking up for those of you who have somewhere you have been wanting to go. Uniting with Grandchildren or simply returning to your hometown no longer need be delayed. For those of you who have been contemplating the right time, here it is. Buyer interest is at a peak and interest rates are at an all-time low; in fact, almost free being in the 2% range in some cases. This helps Buyers who thought they could not afford Trilogy to do so and those who prefer to hang onto their stocks or CDs do so. On the flip side, things will be more affordable, in most cases, where you are headed, as well.

There is another good reason it is a great time to list your home for sale, lack of inventory. We have seen a higher amount of homes coming on the market, but it is still not enough to keep up with the demand from Buyers with inventory at a 10-year low year-over-year. If you feel the Coronavirus has slowed things down, it seems  people have decided enough is enough and are not putting things on hold. There is a hair under one month’s worth of Inventory in King County which means properly priced and presented homes are being snapped up quickly. One thing this situation of staying and working at home has done, is make people come to the realization that their home isn’t such a great place be for them, but it may be for someone willing to pay for it.

Just remember to hire a Community Expert. Although Pending Sales in King County are breaking records, despite the pandemic, neighborhoods vary greatly on their demand. The NWMLS reports price changes ranging from an increase of over 21% in North Seattle to an over 17% decrease in the Bellevue area West of I-90. Know how to sell and where to buy.  The Elephant knows Trilogy like no-one else, was born and raised in Western Washington and there’s good junk in his trunk.

Homes Uncle Sam is Waiting to Collect Excise Tax on…

  Model Square Footage NWMLS
Original Asking Price Asking Price when Sold Days on Market Remarks
1 Union 1550 1636228 $637,000 $637,000 3 Pending Inspection
2 Orchard 1440 1638091 $665,000 $665,000 1 Nice Presentation/Attached Home
3 Madison 1871 1616883 $756,000 $756,000 17 Gorgeous Lot, Sq. Ft. in question
4 Whidbey 1671 1596823 $787,000 $755,000 96 Pending Inspection – good Luck
5 Bainbridge 1870 1632808 $760,000 $760,000 4 Lovely Lot…Good Deal.
6 Maple 2505 1599479 $920,000 $880,000 64 Discount Brokers Discounting 4%+
7 Hemlock 2310 1628926 $940,000 $940,000 17 Finally, a lovely presentation.
8 Cedar 2409 1631623 $988,000 $988,000 4 Amazing Greenbelt Home Site
9 Maryhill 3535 1641868 $1,375,000 $1,375,000 3 Presented “The Elephant Way”

The Elephant Representing Sellers& Trilogy Integrity!

Creme de la Creme…”Trilogy’s Maryhill”

Offered at $1,375,000

Blueprints for the Madison reveal a plan of 1,787 square feet; I know as I scoured all floor plans working for the developer. I guess tape measures are variable, as are volume brokers taking the time to check facts. Regardless, this home is exceptional. These over-sized grounds are fabulous, tiered, private  and well-groomed. There’s even room for Fido. I have always loved the Madison for its great ground floor flow, two master closets and great storage. Big Leaf Way is a wonderful area. I’m sure these fortunate new Members will cherish this home and location.

To see more of this Magnificent Maryhill, check out www.DevinSanfordHomes or simply scan this QR code with your Smart Phone App. I cannot say enough about the trusting Sellers and how they allowed me to run with the ball.


Model Square Footage NWMLS
Original Asking Price Asking Price when Sold Days on Market Remarks
1 Discovery 1350 1622697 $615,000 $605,000 36 Very modest home…good value.
2 Discovery 1361 1605651 $630,000 $615,000 80 Cute, modest, below wall.
3 *Union 1680 1602333 $615,979 $615,979 89 CONTINTENT – Upgraded – ARCH
4 Orchard 1440 1361867 $649,000 $649,000 26 Modest with Great View.
5 Townsend 1335 1530439 $695,000 $655,000 305 Pricing Matters- 305 D.O.M.
6 *Whidbey 1680 1602197 $725,000 $669,000 87 CONTINGENT SALE
7 Whidbey 1680 1607327 $748,000 $719,000 62 Discount Broker…Discounting 4%
8 Vancouver 1958 1642068 $769,000 $769,000 5 New Listing
9 Bainbridge 1870 1586666 $819,000 $790,000 123 Discount Broker –  123 D.O.M.
10 Nice 1960 1638760 $875,000 $875,000 6 Coveted Floor Plan & Pretty Rare
11 Cedar 2300 1621992 $990,000 $965,000 46 Corner Lot near Club

Active Homes Average 76 Days on Market

Currently there are 11 units for sale. Rapid turnover of abodes with for sale signs out front, piled high in Escrow with 15 by mid-month. By month’s end, several had closed and a few newly available turned over in a matter of days. We ended the month with nine contracts awaiting to be recorded , plus two contingent contracts, which will kick off August nicely. A *CONTINTENT sale is included in available homes because the contract is contingent  upon the Buyer selling their current home.

Make no mistake, the market is hot right now. So why is the average home under contract in around two weeks and available homes average two and one-half months? Some do a good job and others, not so much. Presentation is everything and when I see foggy windows, poorly set window shades exposing intimate neighboring homes, lousy staging and photography and, as in the case of one contingent property, broken tile, office built-ins in need of repair and burned out lighting, I feel for the Sellers. One exceedingly rare model, perhaps the most coveted in Trilogy, fails to name the floor plan on the NWMLS. This has become not uncommon as Listing Agents break into Trilogy, thinking it’s just another house.  I have seen this before with homes that were included in the Model Gallery. Surely the Seller gave the Broker this information? Do they not know that key words are how Buyers find your home on the Internet?  To be clear, “some do a good job”. Perhaps, a Buyer has been on the lookout for that “Nice” or “Bainbridge” plan but wouldn’t recognize just a front photo of it. If you want your Broker to knock it out of the park, it may come at a conventional rate at worst, and that’s a bargain when it comes to net proceeds in your pocket and peace of mind for a good night’s sleep.

Final Thoughts:
2019 ended with just 78 sales, a tumultuous year compared to the six previous years of 100+ sales. Despite the recent pandemic, we are projecting the same number of sales already, even with a late starting gun. I predict a very strong  finish over the next five months, that will exceed last year and likely carry right over into 2021. It is possible our typical slow even over the  Winter Holidays, may be a little busier.
That is a wrap through July and thank you so much for reading. We hope you enjoyed it.

A Recap of 2020 Month over Month Statistics:

Jan. Feb. Mar. April May June July Aug. Sept. Oct. Nov. Dec. YTD
$old 2 8 10 6 5 5 9 45
Pending 7 8 7 4 5 9 9
Active 9 6 7 10 14 14 9
$old D.O.M. 38 19 7 67 85 28 26
Active D.O.M. 63 46 73 48 43 55 76


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