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Weekly Wrap-up

By September 8, 2019

Market Report

The newsletter is back from its unplanned summer hiatus! 

As expected, August was a really slow real estate month. And as expected, we saw a big bump in new listings this past week, with over 300 new listings hitting the market in Seattle. We expect an even bigger bump next week and then new listings will decline through the end of the year. So for buyers hoping to buy this year, the next couple weeks are when you’ll see the most new listings, and likely the best homes. Later in the year is when you’ll see the best deals as sellers get anxious about how long their home has been on the market. For sellers, we recommend getting your home on the market as soon as possible to take advantage of all the buyer interest right now (we had four clients fly to Seattle this week to look at homes!), or start prepping your place to list in early 2020 (we’re already working on listings for clients in 2020.) 

Of all these new listings what caught our eye? Our neighbors are selling, come join us on the water! Or check out this floating home with waterfront home on Portage Bay. Other great homes include this Blue Ridge MCMa Federal Way untouched MCMa newer home in Magnoliaan untouched MCM in Bellevuea Gridiron resale unit “in the point” (Gridiron is 62% sold + pending), and further afield, this Camano Island waterfront modern is incredible (with bonus log cabin!)

Plus we’re listing a loft at Trace and have a great historic townhome in Fremont still available

In condo news – Nexus is delayed until 2020Daniels is breaking ground on 271-units on First HillAvenue Bellevue is breaking ground this month and released price ranges for their more affordable towerthere are new renderings for the 594-unit project at 1516 2nd Ave which should break ground in early 2020 and Kirkland is getting a luxury boutique waterfront condo

In other news – we’re excited the city is donating parcels for affordable housing, but surprised by this proposal to ban gas for new homes (though we do prefer induction over gas). 

P.S. the Fifty Shades of Grey (sub) penthouse sold to techies in their early 30s for $9m, wow!

I’m the founder and managing broker of Urban Living. I love lofts, floating homes, new construction and mid-century moderns but will help you buy or sell just about anything.

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