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Home / Market Report / Weekly wrap-up

Weekly wrap-up

By August 3, 2020

Market Report

Real estate agents usually take August off alongside their clients. Not this year!

Hard to take a break when there was a record number of new listings last week. This should give frustrated buyers a little relief as listings are hitting the market faster than they’re going pending. However, buyer interest is strongest for single-family homes under $1.25m where demand far exceeds supply so the relief is primarily for condo and townhome buyers.

Of those new listings not much caught our eye – maybe just this Ralph Anderson with a pool. But this week, we’ll be bringing on a couple good listings :).

The craziest bidding war we heard of was waterfront on Bainbridge listed at $2m that went pending for close to $2.5m cash. The craziest non bidding war story is how a buyer offered $1.6m for this home listed for $1.3m after just one day on market and the seller took it ahead of the offer deadline. Wow!

In condo news – Gridiron is now offering a price guarantee, while the Emerald reduced prices for some units as they near completion this fall.

PS. we’re looking for part time marketing help if you know anyone!

I own and manage Urban Living, a boutique Seattle and Bellevue real estate brokerage. I love lofts, floating homes, new construction, and mid-century moderns, but I will help you buy or sell just about anything!

Get in touch to:

  • Understand the market
  • Find your perfect home
  • Sell your home

Contact:

206-203-6242

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