Trilogy at Redmond Ridge‘s Most Comprehensive Market Report brought to you by: www.DevinSanfordHomes.com
Twelve homes for sale in Trilogy at Redmond Ridge, that’s it?
Is it homes are selling faster?
Are prices higher?
Are fewer people selling?
Great questions. Encouraging answers.
There are 12 Trilogy at Redmond Ridge homes you can buy as September begins. A year ago there were 50. For the sake of valid comparisons, the four Shea spec homes, three of which were on the market before this year began, are omitted.
On-line real estate maps suggest a greater number. They are updated infrequently and some agents allow a property to remain long after it is sold. If you want to know about a property, call. I’ll get the details for you.
Last year 57 Trilogy at Redmond Ridge homes were sold through August 31; 50 were resells. This year, 70 have sold during the first eight months, 60 of them resells.
Last year’s average sale price was $459,404. This year, it’s up, $476,034. The average home in January-August last year sold for 92.1 percent of original asking price. This year it’s 94.7 percent. That’s 2.6 percent more realized cash, $7,800 more for a $300,000 home, $13,020 for a $500,000 home. I’m not embarrassed to say that my sales this year are averaging 99.47 percent of asking price. That’s significantly more cold cash…for the seller.
The average time it takes for a home to sell, days on market or “DOM,” in real estate jargon, are fewer. A year ago it was 170. This year it’s 147 (My listings have averaged 38 days on the market.) Realistically, it’s less. Some sellers for whatever reason, perhaps because of loyalty to a neighbor or friend, have left their homes on the market for as long as 858 days before taking steps to be loyal to themselves.
Those steps can mean finding a new broker, reducing price, major and often costly improvements to meet more recent competition, or simply surrendering and pulling their home off the market. Hiring an expert to sell your home is just good business. Your money doesn’t take it personally.
Homes are selling significantly faster. Take out the Flamingos (some more jargon most easily defined as “white elephants”) and the average home sells in less than two months.
Are fewer people putting their homes up for sale?
With 70 homes sold so far this year, and 19 “pending” close of escrow, the statistics suggest there will be 89 sales this year. Last year there were 83. Yes, people are still putting their homes on the market. The 12 homes now on the market have been for sale on an average of almost five months. During that period several homes were put up for sale, and sold.
For homes too long on the market it could be time to analyze the price, hire someone to paint, make some simple updates, recheck mechanical and structural elements and stage the interior dramatically. It’s competitive out there. Part of being an effective broker is direct action on behalf of the seller to meet the competition.
What’s available now in Trilogy at Redmond Ridge?
Five Hemlocks. When folks look, it’s the most popular floor plan in Trilogy. And NOT incidentally, both of the Hemlock listings we had last month sold quickly and for FULL PRICE.
HERE ARE THE SALES RESULTS FOR AUGUST IN TRILOGY AT REDMOND RIDGE:
11 homes $old during August (up One from July)
Eleven homes closed escrow in August. The average price was $471,444 down from $478,440 in July and $532,771 in June. There were more smaller, lower price range homes sold during August.
The sales included Union, Chelan (both ARCH homes), three Discovery (including a “short sale”), Alder, two Cedar, two Hemlock and Maryhill floor plans. Each was a resell.
There are reports suggesting a lot of sales activity for new construction. Maybe. There’s no verification. The King County Recorder’s office reflects three new construction (from the ground up/new build) home owners paid taxes for August closings. The homes sold for $900,287, $533,514 and $540,865. That lifts Shea’s new construction closings to 13. According to the Northwest Multiple Listing Service, Shea reports 10 additional “Designer” or spec homes sold year to date. This gives Shea 23 total closings for this year. Add the resells and its 100 plus, but only about half of what some sales promotion material suggests.
Keep in mind that “sold” means money has been exchanged, keys delivered and the tax rolls show a new name as the property’s owner.
What’s coming up?
NINETEEN resell homes went “pending” during the month of August, three more than in July.
Folks buying in Trilogy at Redmond Ridge clearly recognize resells offer better value. The punch lists have been completed, the potential has been demonstrated and lots already have street appeal. Perhaps, this is why the four remaining Designer homes average almost 15 months on the market.
That’s all good news. The Trilogy at Redmond Ridge market is stronger with at least 19 possible closures in the next few weeks. Here are some positive statistics about those 19 properties:
Average time on market – less than 87 days
- Asking prices – from $349,000 to ONE-MILLION, SEVENTY-FIVE THOUSAND United States of America Dollars!
- Only three of the pending sales are attached units; all five floor plan collections are represented. The average asking price was $538,738 for those having passed inspection and moving forward to the close of escrow.
WHAT IS CURRENTLY AVAILABLE IN TRILOGY AT REDMOND RIDGE?
Twelve. Half as many as when August began.
There also is new construction. Shea’s top executive for Washington recently wrote homeowners telling them that since April, 20 folks have signed contracts. More recently a Shea agent said that there are no more “greenbelt” home sites available and just 32 remaining lots. Both have told prospective buyers that new construction prices are going up.
I’d like to talk with you about all these statistics and figures, and the many reasons the Trilogy at Redmond Ridge market is improving. My work day includes deep research into the market, analyzing pricing and buying trends, comparing my client’s asset with competing properties. Then I translate it for the people with whom I work, in simple business language, not jargon, and in facts and results, not hopes and maybes. It’s personal for me. And it often means that I’m there, personally helping a client prepare to display his product. Sometimes I’ve brought and used a broom.
In this competitive market and in an increasingly complex business of buying and selling property, a solid broker with product and area experience is essential Such a broker can assure your home will stand out and be sold quickly, at a price that is right for buyer and seller. Reduced inventory does not mean it’s a time to take advantage of anxious buyers with exorbitant asking prices. The Baby Boomers who really are Trilogy’s “buying pool” might be spontaneous, but they’re not stupid.
That’s a wrap for August, thanks for joining in, and we’ll see you next month! Meanwhile, take a moment to look over some things about our organization that I’ve added below. If there’s one thing we’d like you to remember, it is:
“We don’t care how many we sell; we care that we serve you well.”
Devin Sanford & Team
Buyers & Sellers….who you work with matters!… Contact The Devin Sanford Team, and schedule a private appointment. We look forward to hearing from you.
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The Angeles floor plan, Townsend floor plan, Discovery floor plan, Orchard floor plan, and Madison floor plan are all in the Trilogy at Redmond Ride Port Collection. The Chelan floor plan, Union floor plan, Sammamish floor plan and Washington floor plan are all in the Trilogy at Redmond Ride Lakes Collection. The Vashon floor plan, Whidbey floor plan, Bainbridge floor plan, Monaco floor plan, Nice floor plan, and Vancouver floor plan are all in the Trilogy at Redmond Ridge Island Collection. The Hemlock floor plan, Cedar floor plan, Maple floor plan and Alder floor plan are all in the Trilogy at Redmond Ridge Forest Collection. The Monticello floor plan, Oakwood floor plan, Redford floor plan, and Maryhill floor plan are all in the Trilogy at Redmond Ridge Estate Collection.