The pace of new listings continue to slow as we saw 190 new listings this week in Seattle. The best of the bunch is this $3m contemporary in View Ridge, followed by a nearly untouched 1955 mid-century modern in Magnolia. Though the most expensive is a $10m penthouse at Escala that sat unfinished, until now. (Notably a $5m penthouse went pending this week at Madison Tower.) And were you looking for a home with an observatory? There’s one for sale on Bainbridge!
As for our listings, this past week two of the three townhomes we were listing went pending; we’re still looking for a buyer for #106 at the historic Hawthorne Square.
On the buy side, we’re seeing many buyers just entering the market eager to buy and we have to counsel them to be patient as there just aren’t that many great homes on the market this time of the year. I know it is hard to be patient for 3-5 months until we see better homes; it isn’t worth settling.
As for market news, the Seattle Times reported on the numbers for October – Seattle home prices take largest year-over-year jump in 12 months. Which makes it sound like prices are on a tear again, but really last October was just a bad month, it certainly doesn’t feel like prices are increasing right now, but they certainly could early next year.
PS. we’re sad to hear Greenfab is leaving buyers homeless