MLS Watch: Press increases prices?
I continue to watch the MLS to see what’s happening for new condo construction across the city and re-sale activity on Capitol Hill and it’s been pretty boring this summer (please email me if you see a neat listing!)
However, this weekend in the midst of market upheaval Press Condos increased the price of 8 of their units by just a $1000. Such a trivial increase feels like an effort to get the listings on agent’s daily MLS hot sheets so they see that Press is offering a 5% buyers agent commission (as opposed to the standard 3%.)
My spies tell me there are 13 units STI/pending/sold at 1610 Belmont and 5 STi/pending/sold at 1620 Belmont.
Disclaimer: The place I’m selling competes with some units at the Press and of course I wonder if I should up my commission to 5% so we’re on equal footing.