Weekly Wrap Up – No Summer Slow Down
We’re seeing no sign of a summer slow down with spring-like levels of new listings hitting the market. This is good news for sellers, no need to wait until September. This is bad news from buyers who were hoping for a reprieve from all the competition.
I always laugh when people tell me it must be a great time to be a real estate agent. Why’s that? …given that our market is totally crazy right now? Because it is just too damn hard to get an offer accepted. This week we wrote five offers and struck out on all five despite having written strong offers.
- Ballard condo: 3 offers, they took the all cash one
- Capitol Hill condo: 14 offers, 5 were $500k+, winning offer waived everything with $100k non-refundable EM
- Capitol Hill condo: 12 offers, went for more than $406k
- Central district home: 10 offers, went over $780k, winning offer waived everything
- First Hill studio: offer listing had no offers by our offer deadline :(
- Laurelhurst MCM: 9 offers, around $1m. Winning bidder released large amount of earnest money immediately to the buyer
- Waterfront condo: one offer
- Lake Forest Park cabin: 8 offers, three over $400k
In other news, Downtown Seattle’s construction boom surges to new record, with no end in sight. But, almost none of those buildings are condos :(.