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 Number |
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 Number |
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 Number |
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.
CURRENT AVAILABLE INVENTORY…
| Model | Square Footage | NWMLS Number |
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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