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Weekly wrap-up: demand exceeds supply for single-family homes

By June 1, 2020

Market Report

Last week the number of new homes for sale lagged behind last year’s short week (248 versus 374), while the number of buyers going under contract was slightly higher (234 versus 214). This explains why some of the new listings (mainly single-family homes) are selling really fast – demand is exceeding supply. Although condo sales are slow; only 45 units went pending last week.

Of the nearly 250 new listings last week, a lot caught our eye! Our fave is this new construction Kirkland home for $4.6m followed by a treehouse-esque Montlake home, an artsy live/work conversion and a loft on Capitol Hill. Mid-century fans check out this updated one in Magnoliaa creekside one in north Seattle, or this unique one on Mercer Island with backyard sanctuary. And don’t miss this book on Paul Hayden Kirk and the rise of northwest modern on Kickstarter (we backed it!). 

Need to escape the city? Check out this modern townhome at the Pass Life on Snoqualmie Pass. 

We were busy last week listing a 2,100 square foot townhome in Magnolia and Klaus listed a great mid-century modern view home on Beacon Hill. We also cut the price on our live/work loft at the Klee and are still looking for a buyer for our Ballard live/work townhome.

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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