As expected the last week of August was quiet as new listings were down 30%+, making it one of the slowest weeks this year. But this will be the last newsletter for a while that starts, “it was a quiet week…”, as after Labor Day early indicators are that it will be busy! I know we’re prepping a number of new listings to hit the market early September, as is every other agent we’ve spoken to. But how about buyers? We’ve had a surprising amount of new clients reach out to us this past week about getting into a home before the end of the year so between buyers taking the summer off and new buyers, it seems like it’ll be busy.
The good news for buyers is we’re no longer the nation’s hottest real estate market. So buyers will be enjoying increased inventory, but also improved pricing. This past week we negotiated $20k off a $420k condo for one client and got another client $5,500 in closing costs on a townhome listed at $680k that was originally listed at $799k in the spring. We spoke to another townhome listing agent who indicated there was $10-50k of flexibility in their pricing.
What caught our eye? We wish more new construction looked like this pre-sale going up in Green Lake. Fans of exposed concrete check out this condo at Continental Place, and finally, here’s a 2,400 shell in a vintage Capitol Hill building with endless possibilities.
Have a good long weekend!