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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’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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