Presented By Devin Sanford Homes
11 Closings for August
|Model||NWMLS Number||Square Footage||Original Asking Price||Asking Price When Sold||Final Sale Price||Dollars/ Square Foot||Days on Market||Percentage of Asking Price|
It’s far too frequent my observation that most brokers are consistently a month or more behind adjusting to changes. Why else would we see homes stretching days on market from single digits to as high as 106 and averaging 5% price discounts in what is still a seller’s market. Sure, we can blame over-optimistic sellers to a point, meaning those who don’t take counsel well. During the setting the price discussion, it’s the broker’s responsibility to set expectations of what could happen, that reductions could come into play and when they should be initiated. It’s common knowledge that the highest amount of traffic visits a home for sale in the first week or two at the most. If the home isn’t under contract by then, marketing should really kick in with the price improvement. Even so, the sellers will likely end up with less net proceeds and more inconveniences than had they priced it accurately at the beginning.
I prefer the alternative and more solid approach. It involves proper preparation, a pleasing presentation, powerful promotion, pricing your home perfectly at the top of the market and not needing to apologize for your price. This takes a lot of effort including many emails, texts, and phone calls to arrange capable vendors in the right order to come on the market at the perfect time and looking worth every penny.
Many teachers have been on strike seeking smaller class sizes. This is not only because they’re workload is too high, but also because the children aren’t getting the attention they deserve. Educators are spread too thin, and the kids suffer. Real estate agents, like those in red above, that take on too many listings, like teachers with too many students, have clients that lack careful attention, and the end is result is a poor grade percentage. Elephants offer a ride to only as many who can sit safely in the saddle resulting in arriving at their destination smiling, having enjoyed the ride.
One-Half Dozen Await Recording Numbers
|Model||NWMLS Number||Square Footage||Original Asking Price||Asking Price When Sold||Dollars/ Square Foot||Days on Market||Percentage of Asking Price|
|Discovery||1976980||1,350||$950,000||$950,000||$703.70||12||Top Shelf, Modern & Chic on Greenbelt|
|Whidbey||1982623||1,670||$998,500||$998,500||$597.90||2||Highly Upgraded Inside & Out|
|Whidbey||1957911||1,680||$1,070,000||$1,025,000||$610.12||63||Mostly Builder Grade on a Corner Lot.|
|Bainbridge||1960271||1,870||$1,175,000||$1,150,000||$614.97||49||Interior Lot, Mid-Level Upgrades|
|Vancouver||1953431||1,930||$1,179,000||$1,179,000||$610.88||53||Updated Interior, Greenbelt, Remote|
|Hemlock||1923213||2,155||$1,499,000||$1,499,000||$695.59||96||Nice Fenced Yard & Close to Club; Modest interior.|
The Average days on market for these six homes sitting in escrow was 46 before reaching mutual acceptance between a willing Buyer and Seller. July had nearly twice as many contracts and still averaged 27 days before a deal was consummated or about three weeks faster. The NW Multiple statistics show that “Pending” sales for July were down 31% year over year on the Eastside. If we narrow down to the NWMLS Map Areas of Juanita/Woodinville and Redmond/Carnation (areas 600/550), we find changes of -27.02% and -18.42% respectively. August numbers are yet to be posted. Over 90% of Trilogy homes fall into the Juanita/Woodinville area where values are like Trilogy. With the Redmond/Carnation area stretching well outside the Eastside. With that in mind, our best interest would be to concentrate on Juanita/Woodinville which includes the majority of Trilogy. In this pertinent territory, closed sales dropped from 280 in 2021 to 135 in 2022 or a -51.79% decrease. Trilogy currently sits at 50 closings for the year versus 64 in July of 2021, a -22% Change. There’s good news in that the median price of homes grew from $1,167,000 in July of 2021 to an even $1,200,000 last month or a 2.83% appreciation. There is currently a little over nine weeks of inventory in area 600 and about three in Trilogy.
Eight Homes Up For Sale at Month End
|Model||NWMLS Number||Square Footage||Original Asking Price||Current Asking Price||Dollars/ Square Foot||Days on Market||Mentionable|
|Townsend||1985724||1,330||$825,000||$825,000||$620.30||7||Attached on two sides, Humble Interior|
|Union||1985681||1,510||$975,000||$958,850||$635.00||13||Hardwoods, Granite, Territorial View|
|Hemlock||1968798||2,305||$1,488,000||$1,488,000||$645.55||48||Greenbelt with Rock Wall|
|Hemlock||1970809||2,300||$1,575,000||$1,500,000||$652.17||22||Interior lot w/ Big Deck|
|Maple||1970938||2,520||$1,549,000||$1,549,000||$614.68||42||Terrific Greenbelt, Mid-Level Upgrades|
|Maple||1949684||2,575||$1,695,000||$1,575,000||$611.65||70||Lovely Home Along Tolt River Pipeline|
|Monticello||1942175||2,695||$1,425,000||$1,600,000||$593.69||57||Golf Course Lot Near Club|
homes for sale will change by the time this market report has processed to you.
You can calculate the months of supply by dividing the total number of homes for sale over the number of homes sold in one month. For example, if you search in a neighborhood and notice that there are 30 homes for sale but only 10 homes sold last month, it means that there are 3 months of supply left in the market. Currently we have eight homes for sale, divided by 11 closing last month gives us about .73% months or about 3 weeks of inventory.
Inventory continued to grow through August and September of last year and then somewhat diminished until Spring. Presently sitting at 50 sales for the year, we’re projecting 75 for year end. It’s likely that’s about where we’ll end up, making for only the second time Trilogy has not had 99 sales or more during the last decade. There were 78 during a turbulent 2019.
|Shea Homes New Construction||10||9||3|
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- Peace of mind knowing that your Broker works for the Largest Volume Brokerage in America, Compass – A Fortune 500 Company and the most high-tech Real Estate company in the industry.
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That’s a wrap for August 2022! Enjoy the Sunshine and Thank You for Reading.
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MY HOMETOWN STOMPING GROUNDS
I’M BORN AND RAISED IN THIS AREA AND LOVE IT!
It was mostly woods when I grew up in Lynnwood where we rode our sleds down 196th Street and my childhood home is now a Wells Fargo Bank, and our motorcycle riding grounds are the Alderwood Mall and an array of businesses. I grew up in the Edmonds School District and went swimming at Mukilteo and Edmonds beaches, lived in Woodinville and ran Track for Monroe then graduated from Inglemoor High School in Bothell. As an adult I’ve lived in Everett, Mill Creek, Monroe and on Lake Stevens. If you or someone you know need a Snohomish County Expert, I’d be delighted to hear from you.
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PACHYDERMS KNOW WHERE THERE’S LOADS OF FUN IN SNOHOMISH COUNTY TOO!
~ ENJOY TRILOGY WHILE SHARING WITH THE KIDS THAT THE ELEPHANT CAN HELP THEM FIND AN AFFORDABLE HOME NEAR LOADS OF ACTIVITIES AND TRILOGY!
$719,500 in Lake Stevens
NOTICE: – If you’d like to join the hundreds of Trilogy Members who get these monthly reports DAYS SOONER via E-Newsletter,
join at www.DevinSanfordHomes.com under the “ABOUT” tab and we’d be happy to add you to our list of in the know recipients.
Read 106 Five Star Reviews at www.zillow.com!
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Find Devin’s 11th consecutive Five-Star Professional award in SEATTLE Magazine’s December 2022 Issue.