Urbnlivn weekly: record number of new listings
Wow! There were 470 new listings last week. That’s higher than any other week this year and even higher than a week in May last year that saw 458. Buyers were busy too, setting a record putting 348 homes under contract. Guess the uptick in interest rates caused by regulatory drama, didn’t phase buyers.
A record week for new listings means we saw some great ones hit – an updated home at the Sanctuary (a former church!), an amazing remodel on Phinney Ridge priced at $2.3m, a $4m mid-century estate in Laurelhurst, a remodeled mid-century in North Admiral and another remodeled mid-century in Madison Park. Already pending – a Miller Hull designed home on Mercer Island (ahead of its offer deadline none-the-less), a contemporary in Alki and a mid-century in North Seattle.
Some stories from the front lines – this Ibsen Nelson mid-century sold for 43% over asking! While this North Beach home 36% over with 28 offers. Looking at the 226 closings in Seattle last week 45% were over asking. 25% for list price and 30% below list price. So less than half of homes were in competitive situations.