October 2, 2007

NW Seattle Price Cuts: Gerber Daisies Last Longer Than Asking Prices

One sign that Seattle sellers are keeping an eye on the news of a softening housing market is the surprisingly short time between some properties’ first appearance on Redfin and their first price cut. Used to be – last winter, for example – that sellers held firm, confident that demand far outstripped supply.

These days, however, I’m seeing reductions when a listing’s only weeks old. In some cases, a cut comes before those fresh flowers provided by the staging company have time to wilt.

12015 Burke Ave. N
Old price: $440,000. New price: $425,000.
Days on Redfin: 18
3/1; 1860 sq. ft.

7841 12th Ave. NE
Old price: $480,000. New price: $448,500.
Days on Redfin: 8
4/1.75; 1840 sq. ft.

3626 14th Ave. W #201
Old price: $300,000. New price: $290,000.
Days on Redfin: 14
2/1; 718 sq. ft.

7214 2nd Ave. NW
Old price: $499,950. New price: $489,000.
Days on Redfin: 17
2/1; 1340 sq. ft.

5440 Leary Ave. NW #215
Old price: $395,000. New price: $385,000.
Days on Redfin: 13
1/1; 806 sq. ft.

To receive daily notifications via email about new listings and price reductions in your price range and search criteria click on “save” above the map. Name your search and check “daily” under notifications.

Note: All information from sources deemed reliable but not guaranteed.