In the face of COVID-19, Seattle real estate deemed essential, is still moving forward but has slowed down.
Sellers are still listing new homes for sale – this past week we saw 153 new listings, down 60% year-over-year. And buyers are still buying – we saw 92 listings go pending last week, down 60% year-over-year.
The talk amongst agents is that it is still possible to get a jumbo loan, but much harder than pre-COVID-19 times. Many small lenders no longer offer them and Wells Fargo, the largest lender, now only offers them directly. But some good news, conventional fixed loan rates dropped for a second week.
While we’re staying home as much as possible, we listed a Fremont standalone modern with rare double car garage on Thursday and helped two buyers close on recent purchases.
Our favorite new listing of the week is a $2.2m custom modern blocks from the heart of Fremont. Or if you need an affordable loft check out this one at Bagley Lofts or this mid-century one in North Seattle.
Our thoughts continue to be with those on the front lines; the stories we’re reading are heartbreaking.
Hang in there,
p.s. listed for $2.3m, this home just sold for $2.8m (!)