January Appears To Be Off To A Good Start

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 mail@mattgoyer.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.

In other condo news a Cupcake Royale is coming to 1111 E Pike and Arthaus Condos will have a physic at their open house from 1 to 4 p.m. this Sunday.

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.

  • Rachel

    Now we will really need a gym at 12th and Madison!

  • Rachel

    Now we will really need a gym at 12th and Madison!

  • Justin

    I saw the poster… I don’t think Trace is a huge offender from a design perspective (unlike say the ‘seventeen07′ conversion disaster) but the marketing materials for trace are pretty out of touch with the hill and really codify the belltown invasion. Of course I moved in and I am straight so… I am part of the problem :(

  • Justin

    I saw the poster… I don’t think Trace is a huge offender from a design perspective (unlike say the ‘seventeen07′ conversion disaster) but the marketing materials for trace are pretty out of touch with the hill and really codify the belltown invasion. Of course I moved in and I am straight so… I am part of the problem :(

  • CG

    Be careful. I was straight until I moved to the Hill.

  • CG

    Be careful. I was straight until I moved to the Hill.

  • BubbleWatcher

    There Matt goes again trying to pump up his company’s sales. The market is NOT off to a good start. Expect prices to come down at least 40%.

  • BubbleWatcher

    There Matt goes again trying to pump up his company’s sales. The market is NOT off to a good start. Expect prices to come down at least 40%.

  • http://twitter.com/mattgoyer mattgoyer

    @BubbleWatcher. Busted! :)

    But really, I wish my blog was so popular that it could have a noticeable impact on Redfin revenue. If that was the case I’d be blogging about Seattle condos all day long.

    And in terms of price, even “The Tim” is only predicting a 10% decrease.

  • http://blog.mattgoyer.com Matt

    @BubbleWatcher. Busted! :)

    But really, I wish my blog was so popular that it could have a noticeable impact on Redfin revenue. If that was the case I’d be blogging about Seattle condos all day long.

    And in terms of price, even “The Tim” is only predicting a 10% decrease.

  • The MD

    eh hem… BubbleWatcher, Matt has been unbelievably objective, imo, about the market. He’s shown the good, the bad, and the ugly. The only reason I respect his site is because he doesn’t view everything through rose colored glasses while putting his spin on it.

    January was indeed off to a good start. So, he wrote about it. It doesn’t mean the market will stay “great” per se. Sometimes its a good thing to hear a LITTLE good news, right? Matt made no claims to the market getting better in the long-term.

  • The MD

    eh hem… BubbleWatcher, Matt has been unbelievably objective, imo, about the market. He’s shown the good, the bad, and the ugly. The only reason I respect his site is because he doesn’t view everything through rose colored glasses while putting his spin on it.

    January was indeed off to a good start. So, he wrote about it. It doesn’t mean the market will stay “great” per se. Sometimes its a good thing to hear a LITTLE good news, right? Matt made no claims to the market getting better in the long-term.

  • condoboy

    viva’ la’ urbnlivn !

  • condoboy

    viva’ la’ urbnlivn !

  • andy

    any idea how far along trace north is with its sales? 50% yet?

    also, did all of the tracers and trace northers get a barrio gift certificate under their door?

  • andy

    any idea how far along trace north is with its sales? 50% yet?

    also, did all of the tracers and trace northers get a barrio gift certificate under their door?

  • andy

    any idea how far along trace north is with its sales? 50% yet?

    also, did all of the tracers and trace northers get a barrio gift certificate under their door?

  • andy

    any idea how far along trace north is with its sales? 50% yet?

    also, did all of the tracers and trace northers get a barrio gift certificate under their door?

  • andy

    any idea how far along trace north is with its sales? 50% yet?

    also, did all of the tracers and trace northers get a barrio gift certificate under their door?

  • mattgoyer

    If you include the early January pendings they're at 44.

    And yes, I did get a gift certificate. Thanks Barrio! However, we joked that it'd only buy 1.5 drinks.

  • http://twitter.com/mattgoyer mattgoyer

    If you include the early January pendings they're at 44.

    And yes, I did get a gift certificate. Thanks Barrio! However, we joked that it'd only buy 1.5 drinks.

  • http://twitter.com/mattgoyer mattgoyer

    If you include the early January pendings they're at 44.

    And yes, I did get a gift certificate. Thanks Barrio! However, we joked that it'd only buy 1.5 drinks.

  • http://twitter.com/mattgoyer mattgoyer

    If you include the early January pendings they're at 44.

    And yes, I did get a gift certificate. Thanks Barrio! However, we joked that it'd only buy 1.5 drinks.

  • http://twitter.com/mattgoyer mattgoyer

    If you include the early January pendings they're at 44.

    And yes, I did get a gift certificate. Thanks Barrio! However, we joked that it'd only buy 1.5 drinks.

  • uptown

    It's not always that the prices will come down in housing busts. It could very well be that they won't go up from their current levels for a long, long time; not keeping up with inflation over the next decade.

    Not that I want to scare people off from buying. Just make sure what you buy, is what you want, at a price you can really afford.

  • uptown

    It's not always that the prices will come down in housing busts. It could very well be that they won't go up from their current levels for a long, long time; not keeping up with inflation over the next decade.

    Not that I want to scare people off from buying. Just make sure what you buy, is what you want, at a price you can really afford.

  • uptown

    It's not always that the prices will come down in housing busts. It could very well be that they won't go up from their current levels for a long, long time; not keeping up with inflation over the next decade.

    Not that I want to scare people off from buying. Just make sure what you buy, is what you want, at a price you can really afford.

  • uptown

    It's not always that the prices will come down in housing busts. It could very well be that they won't go up from their current levels for a long, long time; not keeping up with inflation over the next decade.

    Not that I want to scare people off from buying. Just make sure what you buy, is what you want, at a price you can really afford.

  • uptown

    It's not always that the prices will come down in housing busts. It could very well be that they won't go up from their current levels for a long, long time; not keeping up with inflation over the next decade.

    Not that I want to scare people off from buying. Just make sure what you buy, is what you want, at a price you can really afford.

  • andy

    any idea how far along trace north is with its sales? 50% yet?

    also, did all of the tracers and trace northers get a barrio gift certificate under their door?

  • http://twitter.com/mattgoyer mattgoyer

    If you include the early January pendings they're at 44.

    And yes, I did get a gift certificate. Thanks Barrio! However, we joked that it'd only buy 1.5 drinks.

  • uptown

    It's not always that the prices will come down in housing busts. It could very well be that they won't go up from their current levels for a long, long time; not keeping up with inflation over the next decade.

    Not that I want to scare people off from buying. Just make sure what you buy, is what you want, at a price you can really afford.

  • Peggy Sue

    Why is it every time a seattle condo blogger whispers a hint of promising news, some moron needs to out “gloom and doom” the rest and make ad hominem attacks on the blogger? Who are these people who troll around all the blogs begging everyone to pile on the negativity train?

  • Peggy Sue

    Why is it every time a seattle condo blogger whispers a hint of promising news, some moron needs to out “gloom and doom” the rest and make ad hominem attacks on the blogger? Who are these people who troll around all the blogs begging everyone to pile on the negativity train?

  • Peggy Sue

    Why is it every time a seattle condo blogger whispers a hint of promising news, some moron needs to out “gloom and doom” the rest and make ad hominem attacks on the blogger? Who are these people who troll around all the blogs begging everyone to pile on the negativity train?

  • Peggy Sue

    Why is it every time a seattle condo blogger whispers a hint of promising news, some moron needs to out “gloom and doom” the rest and make ad hominem attacks on the blogger? Who are these people who troll around all the blogs begging everyone to pile on the negativity train?

  • Peggy Sue

    Why is it every time a seattle condo blogger whispers a hint of promising news, some moron needs to out “gloom and doom” the rest and make ad hominem attacks on the blogger? Who are these people who troll around all the blogs begging everyone to pile on the negativity train?

  • Peggy Sue

    Why is it every time a seattle condo blogger whispers a hint of promising news, some moron needs to out “gloom and doom” the rest and make ad hominem attacks on the blogger? Who are these people who troll around all the blogs begging everyone to pile on the negativity train?

  • rick

    The people who post with all the “gloom and doom” are the same 2-3 posters every time and have the time and effort to actually post their views on a consistent basis.. They only look at things in one way. Housing goes in cycles so they will be right half the time. I'm also assuming that they will be renters for a majority of their adult life (not that their is anything wrong with that).

    The fact of the matter is that Seattle is probably one of the top major cities to buy a house in for the long term. I'm not saying housing prices won't fall, but you probably won't see 20% drops in one year like you'll see in SoCal and pretty much every other city in CA except for maybe the Bay Area.

  • rick

    The people who post with all the “gloom and doom” are the same 2-3 posters every time and have the time and effort to actually post their views on a consistent basis.. They only look at things in one way. Housing goes in cycles so they will be right half the time. I'm also assuming that they will be renters for a majority of their adult life (not that their is anything wrong with that).

    The fact of the matter is that Seattle is probably one of the top major cities to buy a house in for the long term. I'm not saying housing prices won't fall, but you probably won't see 20% drops in one year like you'll see in SoCal and pretty much every other city in CA except for maybe the Bay Area.

  • rick

    The people who post with all the “gloom and doom” are the same 2-3 posters every time and have the time and effort to actually post their views on a consistent basis.. They only look at things in one way. Housing goes in cycles so they will be right half the time. I'm also assuming that they will be renters for a majority of their adult life (not that their is anything wrong with that).

    The fact of the matter is that Seattle is probably one of the top major cities to buy a house in for the long term. I'm not saying housing prices won't fall, but you probably won't see 20% drops in one year like you'll see in SoCal and pretty much every other city in CA except for maybe the Bay Area.

  • rick

    The people who post with all the “gloom and doom” are the same 2-3 posters every time and have the time and effort to actually post their views on a consistent basis.. They only look at things in one way. Housing goes in cycles so they will be right half the time. I'm also assuming that they will be renters for a majority of their adult life (not that their is anything wrong with that).

    The fact of the matter is that Seattle is probably one of the top major cities to buy a house in for the long term. I'm not saying housing prices won't fall, but you probably won't see 20% drops in one year like you'll see in SoCal and pretty much every other city in CA except for maybe the Bay Area.

  • rick

    The people who post with all the “gloom and doom” are the same 2-3 posters every time and have the time and effort to actually post their views on a consistent basis.. They only look at things in one way. Housing goes in cycles so they will be right half the time. I'm also assuming that they will be renters for a majority of their adult life (not that their is anything wrong with that).

    The fact of the matter is that Seattle is probably one of the top major cities to buy a house in for the long term. I'm not saying housing prices won't fall, but you probably won't see 20% drops in one year like you'll see in SoCal and pretty much every other city in CA except for maybe the Bay Area.

  • rick

    The people who post with all the “gloom and doom” are the same 2-3 posters every time and have the time and effort to actually post their views on a consistent basis.. They only look at things in one way. Housing goes in cycles so they will be right half the time. I'm also assuming that they will be renters for a majority of their adult life (not that their is anything wrong with that).

    The fact of the matter is that Seattle is probably one of the top major cities to buy a house in for the long term. I'm not saying housing prices won't fall, but you probably won't see 20% drops in one year like you'll see in SoCal and pretty much every other city in CA except for maybe the Bay Area.

  • rick

    The people who post with all the “gloom and doom” are the same 2-3 posters every time and have the time and effort to actually post their views on a consistent basis.. They only look at things in one way. Housing goes in cycles so they will be right half the time. I'm also assuming that they will be renters for a majority of their adult life (not that their is anything wrong with that).

    The fact of the matter is that Seattle is probably one of the top major cities to buy a house in for the long term. I'm not saying housing prices won't fall, but you probably won't see 20% drops in one year like you'll see in SoCal and pretty much every other city in CA except for maybe the Bay Area.