Reader Ross leaves a comment about the Queen Anne High auction results. I’m re-posting it here since he took some great notes. Thanks Ross!
I attended the Queen Anne auction today. I didn’t win any properties, but overall it was an interesting experience. The 13 units were sold is about an hour. Most of the auctions ended in about 3 minutes or so, though a couple had back and fourth bidding wars that lasted a bit longer. I was bidding oppurtunistically, but didn’t expect to win (I was mainly concerned with the high HOD and potential that they increase further due to low reserve funds).
Click to see the Queen Anne High auction results including original price and closing price.
Probably the best deals of the day were the penthouse unit that sold for only about 5% over the starting bid and unit 287 (a townhome with decent views of DT closing at $360K). #267, the first item up for bid, closed at the lowest cost per square foot – $281 – which is very good for Queen Anne… The closing bid for 167 seemed high to me, at $336K (#167 was used as the sales center and had some wear + #267, directly above with a better view went for $324K). Otherwise, most units seemed to end in about the same general area. If someone has a list of the most recent MLS prices for these units, it would be interesting to compare them to these closing prices.
For those curious here’s Redfin’s stats & trends on Queen Anne:
And Komo has a video, Bargain hunters snatch up condos at auction:
Update: Here’s a PDF from agent, William O’Brien, QA Auction Results [pdf]
Popularity: 12% [?]
View Comments so far ↓
1 Ross // Mar 22, 2009 at 11:32 pm
To be clear, the order of auctioning was based off people's preference (given at registration time). The actual ordering was announced today, right before the auction (I guess the idea was to encourage bidding wars upfront and have second chances for people who didn't get the unit the wanted). So the actual order was: #2-267, #6-282, #13-295, #11-291, #14-402, #4-367, #7-286, #9-289, #12-294, #1-167, #8-287, #5-280
2 Kim // Mar 23, 2009 at 7:20 pm
Great notes! Thank you!
3 fooman // Mar 23, 2009 at 8:13 pm
33% overall haircut. Sellers take note.
4 Jessica // Mar 24, 2009 at 8:02 am
I see William O'Brien is pushing his low quality useless agenda again. I worked with him on a transaction and never have I felt so used. Dirty. I feel Dirty reading this post.
5 Joe // Mar 24, 2009 at 10:23 am
I don't get it. What is the agenda?
6 Last of Queen Anne High School Condos Finally Unloaded | Seattle Bubble — News & discussion about real estate & the housing bubble in the Seattle area. // Mar 24, 2009 at 10:02 am
[...] Matt at Urbnlivn has a great table with the full detailed results of the auction in his post on Sunday’s bid-fest. [...]
7 Jessica // Mar 24, 2009 at 3:02 pm
I see William O'Brien is pushing his low quality useless agenda again. I worked with him on a transaction and never have I felt so used. Dirty. I feel Dirty reading this post.
8 Remaining Queen Anne High Sellers Cut Prices | urbnlivn on Seattle condos // Mar 27, 2009 at 9:10 am
[...] the Queen Anne High Auction two non-developer owned units slash their prices. Will the prices cuts be enough to sell [...]
9 Most Popular Condo of the Week: Queen Anne High #104 | urbnlivn on Seattle condos // Mar 31, 2009 at 1:43 am
[...] was unit #104 at Queen Anne High. It could be the most popular because of the attention from the recent Queen Anne High auction or the recent price reduction that I blogged about. It certainly isn’t due to the photos or [...]
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