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Trends in price *increases*?

By February 19, 2008

While there a normally a few price reductions every day in my condo search area I’ve noticed one or two price increases and decided to go back through the last two weeks of Redfin updates I’ve received and found this has in fact been a trend:

1610 Belmont Ave #511. Started at $499,950 on Jan 2, 2008. Down to $469,950 a day later and now back up to $499,950.

500 5th Ave W #404. Listed at $454,950 on February 10th and then increased to $474,950 on the 13th.

2125 1st Ave #1602. Started at $729,000 on December 1st and on February 12th went to $739,000. Now subject to inspection.

108 5th Ave S #615. Started at $249,000 on November 13th and has gone up and down and is now up at $270,000 as of February 10th.

217 17th Ave E #5. Started at $299,000 and a month later went to $300,000.

231 Belmont Ave E #206. Started at $319,000 on February 4th and four days later went to $329,000.

1818 E Denny Way #101. This one has a long price history starting at $380,000 on June 7th. It hit at low of $345,000 twice and is now at $350,000.

1818 E Denny Way #203. This one also has a long history starting at $365,000 and hit a low of $355,000 and recently they bumped that to $356,000.

1105 Spring St #902. Started at $243,950 on February 7th before being bumped to $253,950 that very same day. Still unsold though.

Meanwhile new developments like Trio are cutting prices and I hear some larger big name projects are giving concessions if you’re ready to offer the big bucks for a nicer unit.