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MLS Watch: Press increases prices?

August 28, 2007 By 8 Comments

I continue to watch the MLS to see what’s happening for new condo construction across the city and re-sale activity on Capitol Hill and it’s been pretty boring this summer (please email me if you see a neat listing!)

However, this weekend in the midst of market upheaval Press Condos increased the price of 8 of their units by just a $1000. Such a trivial increase feels like an effort to get the listings on agent’s daily MLS hot sheets so they see that Press is offering a 5% buyers agent commission (as opposed to the standard 3%.)

My spies tell me there are 13 units STI/pending/sold at 1610 Belmont and 5 STi/pending/sold at 1620 Belmont.

Disclaimer: The place I’m selling competes with some units at the Press and of course I wonder if I should up my commission to 5% so we’re on equal footing.

Filed Under: The Press Views: 508
About Matt

Matt , Urbnlivn's publisher, has a love for lofts with industrial features and new construction condos that is only eclipsed by his passion for outdoor sports and urban living. Phrases such as “polished concrete” and “exposed brick” are music to his ears. You can also find Matt on Twitter or skiing.

  • Joel

    Did you ever see that video of an agent that was offering a Mercedes to the buyer’s agent? The whole 5% commission thing seems like the same deal. They’re enticing the buyer’s agent to ignore the buyer’s best interest. It just seems so wrong. Why not just offer 2% cash back or something?

  • Joel

    Did you ever see that video of an agent that was offering a Mercedes to the buyer’s agent? The whole 5% commission thing seems like the same deal. They’re enticing the buyer’s agent to ignore the buyer’s best interest. It just seems so wrong. Why not just offer 2% cash back or something?

  • peckham

    I think Matt is correct in his assertion that such an insignificant increase is an effort to get the listings on agents daily MLS hot sheets.

    I just took a walk and noticed that a unit for sale in my building has just been repriced in the other direction: a $20,000 reduction.

  • peckham

    I think Matt is correct in his assertion that such an insignificant increase is an effort to get the listings on agent’s daily MLS hot sheets.

    I just took a walk and noticed that a unit for sale in my building has just been repriced in the other direction: a $20,000 reduction.

  • Capitol Hill Q

    have you (or anyone) been tracking the price per sq. ft. trends in capitol hill? would be curious to see these from someone who has access to and is tracking the MLS…

  • Capitol Hill Q

    have you (or anyone) been tracking the price per sq. ft. trends in capitol hill? would be curious to see these from someone who has access to and is tracking the MLS…

  • http://twitter.com/mattgoyer mattgoyer

    CHQ, I’m not tracking it as actively as I should…

  • http://blog.mattgoyer.com Matt

    CHQ, I’m not tracking it as actively as I should…