The Elephant’s April 2019 Review of Trilogy at Redmond Ridge

D. Sanford Real Estate News , Trilogy at Redmond Ridge , Trilogy Market Report Leave a Comment

The Pachyderm Proudly Presents…

The Elephant’s April 2019 Review of Trilogy at Redmond Ridge

 

Get Ready, it’s about to get Busy!…

                              Inventory at Recent Years’ High….

                                          Sellers Should Expect More Market Time …

         

10 Closings for April

Here’s what closed Escrow during April! 

  Model Northwest Multiple Listing Number Original Asking Price Asking Price when Sold Final Sale Price Days on Market
1 Townsend 1420108 $599,950 $599,950 $587,000 22
2 Union 1416552 $595,000 $595,000 $601,000 3
3 Union 1400679 $650,000 $620,000 $610,000 71
4 Union 1431040 $670,000 $645,000 $620,000 18
5 Discovery 1422811 $639,000 $639,000 $650,400 2
6 Vashon 1362618 $749,000 $719,000 $700,000 171
7 Bainbridge 1432370 $819,000 $819,000 $819,000 6
8 Bainbridge 1422811 $829,000 $829,000 $829,000 2
9 Hemlock 1399227 $1,125,000 $1,099,000 $1,090,000 63
10 Maple 1418073 $1,198,000 $1,198,000 $1,198,000 5

Homes  in Bold & Green; the Elephant Representing SELLERS!

Notable Price Reductions and/or Days on Market!

 

Get Ready! It’s About to get Busy! Homes around $800K or less seem to be dominating the activity presently, however, one-third of the closings year to date have exceeded the Million Dollar mark, with a couple others just under that. Sales year-to-date pretty much came in spiritic flurries with a big lack of activity in-between. This made things  feel slower than they really were. There were 23 total closings through April in each 2017 and 2018 then, the damn broke in May with 13 and 17 sales, respectively. Those contracts would have been written a month or more prior. In April of those years there were 12 and 15 deals in Escrow waiting to close 30 – 45 days later. This April there are four in escrow.

 

We’re at 24 sales Year-to-Date. Due  to unusually dramatic weather early in the year, I believe our comparable big closing month will be June with many mutual agreements between Seller and Buyers taking place in May. Be prepared! Mid to late May should flower up nicely.

 

 Four Finding Mutual Agreement Await Closing

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

Model Northwest Multiple Listing Number Original Asking Price Asking Price when Offer Accepted Days on Market
 1 Whidbey 1442053 $739,950 $739,950 2
2 Discovery 1426665 $637,000 $637,000 8
3 Whidbey 1427469 $779,000 $779,000 5
4 Hemlock 1416575 $1,100,000 $1,100,000 5

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

 Home  in Bold & Green; the Elephant Representing SELLERS!

 

Three smaller homes, all in the $600K to $700K range and a solitary larger home sold shortly after the ink was dry on the listing paperwork. The $850k and under price point has been moving the most rapidly

lately. The Hemlock is literally the closest home to the old Tour Center,  adjacent the Cascade Club and within the old Model Gallery. It was a no-brainer  it would fly off the shelves. Other high-end homes are seeing a bit more market time.

 

20 Sellers Seeking a Handshake!

Trilogy Inventory as of April 30th, 2019         

Model Northwest Multiple Listing Number Original Asking Price Current Asking Price Days on Market
1 Chelan 1443692 $510,000 $510,000 6
2 Chelan 1444960 $635,950 $595,000 7
3 Discovery 1430381 $609,900 $609,900 33
4 Whidbey 1446286 $725,000 $725,000 6
5 Washington 1436460 $734,000 $734,000 22
6 Vancouver 1364257 $779,000 $736,000 225
7 Sammamish 1410231 $749,000 $749,000 42
8 Vashon 1368852 $769,500 $699,950 182
9 Whidbey 1447303 $775,900 $775,900 1
10 Bainbridge 1441906 $815,000 $799,000 13
11 Bainbridge 1427262 $849,000 $835,000 36
12 Hemlock 1430682 $970,000 $970,000 34
13 Alder 1422444 $978,000 $978,000 48
14 Hemlock 1438818 $997,450 $997,450 53
15 Hemlock 1435984 $1,025,000 $999,000 22
16 Maple 1435672 $1,025,000 $1,025,000 7
17 Cedar 1403245 $1,039,950 $1,025,000 63
18 Cedar 1443578 $1,039,950 $1,039,950 8
19 Hemlock 14052321 $1,060,000 $1,020,000 179
20 Monticello 1410259 $1,165,000 $1,165,000 65

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!

 

Inventory at Recent Years’ High….King County reports over 75% more inventory over the same month last year. Buyers are still out there but they have more to choose from and they aren’t in a rush. Sellers need to expect  your home may  take longer to sell than you hoped for. If you’re securing a property elsewhere prior to selling, I’d recommend asking for more time to close or plan your finances accordingly. This is no time to hire a Bargain Realtor. You’ll want a stellar presentation along with a Broker who turns over every stone and stays strong on price. At least small price reductions may be needed to stimulate Buyers as inventory begins to grow and spend more time on the market. I anticipate a slowing in appreciation should this trend continue.

 

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                 24
Pending 5 5 11 4                  
Active 9 8 12 20                  
$old D.O.M. 3.5 42 52 36                  

 

A Couple of Last Items:

Things are good. The market is still strong and we’re on track with the overall sales within Trilogy in recent years. However, Buyers are realizing they don’ t need to be pushed around anymore. It’s going to be more important than every to have a standout presentation if you don’t want to get beat up on price.

That takes a lot of time and effort on the part of the Seller and the Broker.

 

A little about the Elephant: I don’t ask for business. I accept offers to visit and discuss my services with the Members who reach out to me who are respectful.  I politely decline meetings with the bossy or rude and don’t crawl on my hands and knees seeking a commission or a dominance of signs in the neighborhood. I prefer  to be zealous in my serving of and attention to the deserving. The people who hire me have done their homework. They’ve read these reports, explored my photography and staging, and have studied the copy within our quality home brochures and internet presence. I spend hours and dollars preparing the best marketing I’m capable of for my Sellers. They deserve it and it makes a difference. Typically, Sellers don’t hard interview me. If I don’t screw  up my meeting, they’ve already decided to hire me before my arrival. Many have not skimped on the improvements they’ve made so why would they skimp on the Realtor responsible for marketing them. We work in cooperation to accomplish their goal. It’s an enjoyable experience together and we get it done.

 

That’s a wrap for April 2019!

We hope you’ve found some value in this report and we thank you for reading!

The Pachyderm and Support Team

See 85+ Five Star Reviews at www.zillow.com. Just click on “Agent Finder and Search for Devin Sanford.

 

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D. Sanford