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

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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!

  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 16th Fairway
13 Maple 1459812 $1,275,000 $1,199,000 68 16th 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 August31st, 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 $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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D. Sanford