The Elephant’s August 2019 Review of Trilogy at Redmond Ridge
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!
|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.|
|4||Vancouver||1482649||$715,000||$715,000||$715,000||3||Modest but Tidy.|
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|
|3||Sammamish||1459868||$718,000||$695,000||77||Fairly Near Club|
|4||Vancouver||1466825||$779,000||$669,000||333||$137K Price Drop|
|6||Alder||1422444||$978,000||$875,000||147||$103K Price Drop|
|7||Hemlock||1487155||$999,000||$969,950||42||Div. 9 Greenbelt|
|9||Maple||1469154||$1,099,000||$998,000||81||$101K Price Drop|
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 August31st, 2019
|Model||Northwest Multiple Listing Number||Original Asking Price||Current Asking Price||Days on Market||Remarks|
|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||$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!
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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