We didn’t know it at the time, but last year’s Memorial Day weekend was the turning point for Seattle’s housing market. If you had listed your home and had it pending prior to Memorial Weekend 2018, you were in great shape. If you listed after that, you didn’t know it yet, but you were in for a tough sale. After a few months, it became clear the market had changed and we’re all still trying to adjust to this new normal. A normal where often times we see great single-family homes go pending with multiple offers (typically homes south of 85th, under $1.5m, that are move-in-ready), while condos, even good ones can take months to sell. A silver lining, interest rates are down for the fourth week in a row. 30 year is now 4.06% while it was 4.66% a year ago. And while our city’s growth is slowing, we’re still #2 in the country.
Typically the week leading up to Memorial Weekend is quiet, as conventional wisdom says not to list ahead of a long weekend, but we did see around 300 new listings this week. Our favorite is this waterfront mid-century modern in Seward Park, followed by this re-modeled Mount Baker modern, while the one that has the most intriguing potential is this Portage Bay waterfront home with a floating home or this canal side home in Ballard. Loft fans, you have a few options this week! Our fave is this loft at the historic 81 Vine followed by a place at 19th Avenue Lofts, and while not a loft, we love the location of this townhome neighboring Cal Anderson. And finally, here’s a literal cabin near Matthews Beach. Wild!
Have a great long weekend!