Trends in price *increases*?

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.

About Matt

Matt , Urbnlivn's publisher, has a love for lofts, floating homes and mid-century moderns.

For years Matt resisted becoming a real estate agent preferring to be an executive in the startup world but he recently caved in the spring of 2014 and became an agent.

You can also find Matt on Twitter or skiing.

  • Jason

    Is there any way that you (or Redfin) can indicate how much a condo actually sold for? I’m curious to know whether price increases actually result in higher sold prices, or if they just result in more interested buyers willing to bargain. How long does it take for real estate sales to propagate to the Internet?

  • Jason

    Is there any way that you (or Redfin) can indicate how much a condo actually sold for? I’m curious to know whether price increases actually result in higher sold prices, or if they just result in more interested buyers willing to bargain. How long does it take for real estate sales to propagate to the Internet?

  • http://twitter.com/mattgoyer mattgoyer

    Redfin gets past sales information from the county through a third party data provider. We usually get the data a few weeks after the transaction has recorded.

    Unfortunately when a listing is sold on the MLS the MLS simply takes the listing off market and so we don’t know if it sold or if it was taken off the market for another reason. This makes it hard for us to correlate a listing to an eventual sale. The NWMLS does have a separate past sales feed that we could use to do this correlation and we hope to integrate it on Redfin in the future (we work with ~20 MLSes which is why we haven’t done a one-off for NWMLS past sales yet.) In the meantime check out JohnLScott.com, they should have the data.

  • http://blog.mattgoyer.com Matt

    Redfin gets past sales information from the county through a third party data provider. We usually get the data a few weeks after the transaction has recorded.

    Unfortunately when a listing is sold on the MLS the MLS simply takes the listing off market and so we don’t know if it sold or if it was taken off the market for another reason. This makes it hard for us to correlate a listing to an eventual sale. The NWMLS does have a separate past sales feed that we could use to do this correlation and we hope to integrate it on Redfin in the future (we work with ~20 MLSes which is why we haven’t done a one-off for NWMLS past sales yet.) In the meantime check out JohnLScott.com, they should have the data.

  • nitsuj

    Easy explanation, Seattle has hit now the bottom of any ‘alleged’ ‘real estate bubble’ ‘correction’ and prices will now continue appreciating at 10-20%. Duuuuh!

  • nitsuj

    Easy explanation, Seattle has hit now the bottom of any ‘alleged’ ‘real estate bubble’ ‘correction’ and prices will now continue appreciating at 10-20%. Duuuuh!

  • Jason

    Matt, thanks for the tip on John L. Scott. I looked for a few of my Redfin faves that had gone “off market” and found that many of them just didn’t sell. Unsurprising but still interesting.

  • Jason

    Matt, thanks for the tip on John L. Scott. I looked for a few of my Redfin faves that had gone “off market” and found that many of them just didn’t sell. Unsurprising but still interesting.

  • Jamil

    Jason-

    CondoCompare.com can give you the data you are interested in. Just search the project you are looking for and scroll down the page a bit until you see the listings. Above the listings you’ll see 3 tabs. Click the one that says “Historical Data” and there ya go! The info is taken directly from the same MLS feed Matt was discussing in his post.

  • Jamil

    Jason-

    CondoCompare.com can give you the data you are interested in. Just search the project you are looking for and scroll down the page a bit until you see the listings. Above the listings you’ll see 3 tabs. Click the one that says “Historical Data” and there ya go! The info is taken directly from the same MLS feed Matt was discussing in his post.

  • Joel

    Possibly because mortgage rates dipped very briefly there in mid January. Just yesterday they posted a record rise so, that might be the end of that.

  • Joel

    Possibly because mortgage rates dipped very briefly there in mid January. Just yesterday they posted a record rise so, that might be the end of that.