Selling Success: Downtown Luxury Condo

Address: 1107 1st Avenue #907, Seattle WA 98101
Property Type: Condominium | Beds/Baths: 1/1.5
Square Feet: 820 | Year Built: 1983
Sold Price: $469,000 | Average Days on Market: 144/Our Days on Market: 71

Additional Photos: http://vicaso.com/15735

Challenges:

  • Previously listed with another broker at an overpriced value
  • Overbuilt with numerous custom finish upgrades
  • Unique home for a specific type of buyer
  • An over abundance of competing condos for sale (25 months of supply to be exact)

>6 Months Supply = Buyer’s Market
4-6 Months Supply = Balanced Market
<4 Months Supply = Seller’s Market

Solutions:

  • Consultation on price supported by area active and sold comparables
  • Use of High Dynamic Range (HDR) photography to best illustrate the home’s exquisite finish details
  • Fluid marketing direction and strong collaboration with the client
  • Creative marketing descriptions, illustrating the home’s unique lifestyle experience
  • Strategic, integrated on and offline advertising and marketing campaign
  • Inclusion on Pike Place Market Foundation’s urban condo tour

Even during peak sales season, Downtown Seattle’s 2010 condo market was saturated with inventory, including other available units in the same building as our clients’. Setting a reasonable list price as well as setting this home apart from a marketing standpoint were entirely crucial.

We excel at creative problem solving. For this challenging listing, we held the single largest open house of our career. On a warm June Sunday, we were fortunate enough to have 350+ people through our listing as part of the Pike Place Market Foundation’s urban condo tour. Within two weeks we received a reasonable offer from that niche buyer who had fallen head over heels in love with this beautiful but very specifically finished home.

Our clients enjoy and benefit from having two brokers with marketing savvy. We have a proven track record of bringing out the best in a home to market its unique features and engage with potential buyers.

Ready to sell? Let us help you succeed in this market. For a consultation, call on us 866.766.7325

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