November 23, 2007
Bainbridge Island: The Shmondo Market Part I
What’s this I hear about a cooking condo market on Bainbridge in spite of the sub-prime mortgage debacle?
Several people have commented to me about such a sizzle.
And yet… I’m seeing a whole lotta condos sitting on the back burner.
The western side of Winslow Way looks a little bit like a deserted set for a spaghetti western…minus the tumbleweeds.
Looks as though some of the new condo complexes have a lot available. I found 17 condos at Madrone Village listed on Redfin at the moment—some of them have been on Redfin for between 500 and 600 days—many in the 400 range.
Interestingly, the prices haven’t budged downward in a year despite sluggish sales—I’m looking at a price list dated 11/28/06.
Across the street, this condo in the 8 unit Corner House development—the downstairs version of one that sold for $389,000 nearly 2 years ago, just dropped 20K in price—with homeowners dues at about $260 per month.
2 bedroom, 1 bath
884 sq. ft.
On Redfin for 286 days
Was: $359,000
Now: $339,000
*all information from sources deemed reliable but not guaranteed
