Last night I looked through the probably hundred or so condos that came on the market in the last two weeks. Nothing really new or exciting. Most looked to be ones that went off the market just before Christmas. The rest were from developments like Trace and Brix putting more inventory in the MLS. And there were definitely a number of price adjustments. Like this unit at Leona which has gone from $475k to $400k.
I then traded emails with Ted from Trace North about Trace Lofts being featured in a poster about protecting gay space when he mentioned that his sales were off to a good start. So I sent off a few emails this morning to see where everyone was at and it sounds like the last two weeks have been better than all of Q408:
5th and Madison: Sold one around New Years
Brix: 5 offers this month, optimistic that most will stick
Danielle: Interest in a few units up in Ballard
Fini: Down to 4 homes, sold last 2/2 home
Gallery: Closed 3 sales in the last 4 weeks
Trace North: 5 pending (1 going to close today or Monday), 1 in negotiation
(If you’re a site agent and have some news to report email me at email@example.com or post in the comments.)
It certainly mirrors the website traffic and other activity we’ve seen at Redfin. Every week we seem to set a new high in website traffic and tour requests.
If you’re still catching up like I am early in the year King 5 had a video on Home Front: Sizing up the local condo market and the Seattle PI had an article about financing available for developers, Financial freeze stalls developers.