The Original Trilogy at Redmond Ridge Market Report – June 2017

The Original Trilogy at Redmond Ridge Market Report – June 2017

Compliments of Your Neighborhood “Premium Service” Realtor Devin Sanford

First Warm Weather Slows Things a Bit.

                     Is it too Late to Catch the Wave?

                                Inventory Hits a New High for 2017                

Summer Slows Sales 30% Below May

Here’s What Closed Escrow Last Month!

  Model Original Asking Price Asking Price when Sold Final Sale Price Days on Market Northwest Multiple Listing Number
1 Discovery $575,000 $575,000 $596,560 8 1116427
2 Discovery $595,000 $595,000 $620,000 6 1140362
3 Bainbridge $739,000 $739,000 $753,000 3 1130304
4 Bainbridge $769,000 $769,000 $769,000 6 1102828
5 Hemlock $899,950 $885,000 $885,000 33 117471
6 Hemlock $935,000 $935,000 $935,000 6 1121879
7 Hemlock $947,700 $937,000 $937,000 25 1107935
8 Hemlock $929,000 $929,000 $944,200 5 1120973
9 Monticello $1,199,000 $1,199,000 $1,200,000 7 1104144

Home in Bold & Green; the Elephant serving Sellers!

 The first warmer weather of the year typically creates a bit of a slowdown with sales. Graduation ceremonies tend to add to the seasonal dip. Remember the sales being reported here were written 30 to 45 days prior to closing escrow, constituting an official sale. With actual sales prices averaging slightly above asking price, the market looks encouraging. However. Indicators show that current market times are beginning to increase. When inventory increases, price drops tend to begin. What does that mean for Sellers? More on that in a bit. Homes that back to a road typically take longer to sell such was the case with the Hemlock.

11 Seeking Reconveyance of Title

            Here’s What’s Currently “PENDING” the Close of Escrow

Model Original Asking Price Asking Price when Offer Accepted Days on Market Northwest Multiple Listing Number
1 Orchard $575,000 $575,000 6 1140636
2 Discovery $585,000 $585,000 4 1148664
3 Sammamish $680,000 $680,000 7 1144294
4 Vashon $719,000 $719,000 7 1149668
5 Madison $729,900 $729,900 7 1142118
6 Vancouver $799,000 $799,000 19 1135849
7 Maple $900,000 $900,000 7 1133885
8 Hemlock $939,000 $939,000 5 1146157
9 Alder $975,000 $975,000 3 1135525
10 Monticello $998,000 $998,000 12 1136571
11 Maryhill $1,125,000 $1,125,000 6 1133323

Home in Bold & Green; the Elephant serving excited Buyers!

We seem to have covered the size spread of homes reaching mutual-agreement during June. With the entry level Port & Lakes Collection of homes representing three sales from $575K to $680K, my mind is spinning and thinking “things sure have changed since we were selling these homes in the high $200K range 14 years ago!” I’m not sure if we’re in San Francisco or La La Land. At least one $1,000,000+ sale per month is not surprising anymore and that’s been going on a while now. This month it was a Monticello at a cool 1.2 Million. We’ll see how long this craziness lasts. With thousands of new residents coming to our area every month, supply and demand would suggest it’ll be a while. Even so, Trilogy is and has always been, a different animal and our demographic tends to be a bit more methodical. In the past, that has put many behind the curve with getting their homes on the market too late to participate in the yearly pricing peak. I anticipate that’s beginning to happen now. We’ll see how many new listings and over-zealous Sellers we see in July. Regardless of what happens in the non-age restricted communities, there are only so many 55+ Resort Community Buyers out there each year.

Eight at Once Means a New High for 2017 Inventory

  Model Original Price Asking Price Days on Market Northwest Multiple Listing Number
1 Vancouver $739,950 $729,000 15 1145691
2 Whidbey $754,000 $754,000 4 1151042
3 Bainbridge $789,950 $789,950 2 1150104
4 Hemlock $929,950 $929,950 16 1139457
5 Hemlock $939,950 $939,950 9 1148604
6 Maple $995,000 $959,000 52 1120920
7 Hemlock $1,150,000 $1,085,000 8 1149799
8 Redford $1,275,000 $1,275,000 2 1152794

Remember: This inventory is as of the last day of the month. Statuses have likely changed by the time you read this so, please, see the note below. I pull data after midnight the last day of the month then, analyze and calculate. Accurate reporting takes a bit of research.

Eight doesn’t seem like much but, believe it or not, that’s the highest amount of inventory Trilogy has had at one time all year. Unlike the general real estate market outside, which had more new listings in June than any single month since May of 2008, our numbers are more modest. Our Sellers are not moving up or across country for employment. Most are down-sizing their home and their outgo but aren’t stressed to do so.

The only price drop for the month was by our friendly discount brokers advertising to save you 2%. With nearly a 6% drop in the first week, I’m not seeing the savings. It’s not the first time. I can’t wait to see the “Just Sold” postcard after it sells sharing how much money the Seller saved with the supposed discount. I recall just a postcard right after discounting an Alder six figures. I don’t know what you’d call it but I call it a lie. By the way, every broker is “Full-Service”. It’s mandatory to negotiate contracts and babysit deals through the close of escrow, turn over the keys and take photos, etc. It’s our business.

The Elephant’s business stems from 14 years of steady dedication, hard work and accurate reporting, not false promises. I’m not just “Full-Service” like everyone else. Although I charge a typical commission, I provide service beyond typical. I’m “Premium Service”. Discount Brokers include you in their numbers game and they admit it. You’re a commodity. Bringing a Premium Price requires time and individual attention, a lot of it and a special strategy, not just counting on a hot market to sell your home for you while bouncing from signing to signing in and out of Trilogy. There’s only so much time in a day. Some are concerned with volume. I’m concerned with whatever you’re concerned with, especially your bottom line.

Here’s a Recap of Year-to-Date Sales:

Jan. Feb. March April May June July August Sept. Oct. Nov. YTD:
$old 6 6 4 7 13 9           45
Pending 9 3 5 12 7 12            
Active 2 3 5 1 2 8            

Note: All currently available listings are posted at on the home page. Hover over the Trilogy tab and select “Current Trilogy Listings” from the dropdown list. For all listings, click “View all Trilogy at Redmond Ridge Listings.” Within this report, we share what is available at the first of the month for consistent and measurable month over month reporting.

That’s a wrap for June. We hope these facts have been helpful. We measure our success by how well we serve others. If you have a real estate need, please, give Devin a call. (425) 501-8424

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