Trilogy at Redmond Ridge Market Report – January 2016, Redmond WA Real Estate

January Starts Off With A Bang!
Upper End Homes Dominating Activity
Properly Presented Homes Prevail

Three Homes Closed Escrow in January:

Model Original Price Asking Price When Sold Sale Price Days on Market
Chelan $435,000 $435,000 $440,000 4
Orchard $460,000 $460,000 $454,000 5
Hemlock $799,000 $799,000 $835,000 2

Homes in bold & Green; the Elephant’s Work representing Sellers.

All three of the above sales were listed, reached complete agreement between Seller and Buyer and closed during the same month. The homes report as being on the market an average of four days but, more than likely, the offers came in even sooner. There’s almost always a final detail or two for the parties to initial around before the days on market stop adding up on the Northwest Multiple Listing Service.

The Chelan sale, the smallest of the “Lakes Collection” of homes, set the bar at $440,000, selling for $5K more than asking price.  The Elephant logged the first Hemlock sale of the year realizing $36,000 over asking price for the Sellers who were happy to accept the CASH offer and a quick closing. The home was listed in the early evening and was signed around the next day.

The only home, of the three, to NOT get full-price was experiencing its second time on the market after the first sale failed to close escrow. It was listed by a local discount brokerage both times.  The Sellers discounted over 1% to consummate this sale.

Take a quick look at this recap of home statuses so far Year-to-Date:

 2016 Jan Feb March April May June July Aug Sept Oct Nov Dec
$old 3                      
Pending 9                      
Active 5                      

If you want to live in Trilogy at Redmond Ridge and don’t have half-a-cool-million, good luck! It can be done but the first thing I’d recommend is that you give me a call. It seems, once again, the days of any conventional Trilogy housing in the $400K range are gone. Outside brokers and even some neighborhood brokers, you may be familiar with, reach out to me on a regular basis hoping to get inside information on what new listings the Elephant may have coming up. I commend these brokers for going the extra mile for their clients and it helps us find quick buyers for our Sellers.

It’s no surprise that the lower priced homes are selling fast, especially, when the average price of homes, now pending the close of Escrow, is over $870,000. Good grief! Did I write recently that the upper end had found its footing? I guess so!

Nine Homes Fall Under Contract for Month One

Here’s what’s currently “Pending” the Close of Escrow

Model Original Price Asking Price When Offer Accepted Days on Market Comments
Discovery * $449,950 $449,950 2 Now Pending
Discovery $449,950 $449,950 5 Now Closed
Whidbey $625,000 $612,680 86 Corner Greenbelt
Whidbey $619,000 $619,000 1 Now Pending
Whidbey $625,000 $625,000 70 Greenbelt
Monticello $962,000 $962,000 78 Sale already failed.
Monticello $1,100,000 $1,100,000 1 Golf Course-17th Fairway
Maryhill $1,250,000 $1,250,000 3 Golf & Mountain Views
Maryhill $1,350,000 $1,350,000 14 Golf & Mountain Views

Homes in bold & green indicate the Elephant is working for our Sellers. *Pending Inspection

Fast doesn’t mean you have to discount the home. Careful preparation, a rich presentation, loads of promotion and perfect pricing creates eager and generous buyers. All of these things not only help the home to sell but they help the deal to stick, as well. Lately we’ve been seeing some pretty poor presentations out there and it’s no surprise the buyers may become less than enthused about seeing the property. When they do come, the home doesn’t live up to the photos and the buyers leave feeling disappointed or mislead. These are the homes that typically spend more time on the market and ultimately sell for less than asking price. Those that sell and then fail, come inspection time, usually should have had more attention up front.

Here’s What’s Available

There were just five homes available at month end:

Model Original Price Asking Price Days on Market Comments
Bainbridge $685,000 $670,000 16 Lovely & Solar
Hemlock $779,950 $779,950 9
Hemlock $789,950 $789,950 24
Monticello $965,000 $965,000 25 Golf Course Home
Maryhill $995,000 $995,000 5 Greenbelt Home

Please, keep in mind all the included data is as of January 31, 2016 at midnight for month-over-month accuracy. The statuses of some of these homes have changed by the time you receive this report.

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Didn’t Receive the 2015 Trilogy at Redmond Ridge Year in Review???

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If you didn’t get the full-color coffee table version of this annual report in your mailbox, that means you’re probably not getting the monthly version we mail out either and the Elephant doesn’t have your correct home address.  This crazy real estate market is literally changing week by week. Don’t miss out on being in the know. You can stay informed  by simply emailing us at [email protected]  with your proper mailing address and we’ll be sure to get you included right away. Be sure to let us know if you have renters in the home so we can send it to both of you. We don’t want to cut them off if they’ve enjoyed receiving it.

That’s a wrap for January.  We hope you found something of value in this report and will give us a call when you have a real estate need. We measure our success by how well we serve others.

Devin, Bridgette & Team

If your home is currently listed with another broker this is not intended to solicit that listing.