Weekly wrap-up: smoke slowed sellers, but not buyers
Last week’s smoke slowed down sellers; new listings were down 6% to 419 but it didn’t slow down buyers with pending sales up 35% to 337, which makes it a tie for the second busiest week of the year!
On the ground, the single-family home is still hot but it feels like buyers have more options, so there’s fewer, less crazy bidding wars. While for condos, it is a really tough time to be a seller as inventory increases, prices drop and buyer interest just isn’t there (and likely won’t be until offices re-open.)
There were some great listings last week. My fave is this Tom Kundig designed waterfront in Lincoln Park for $4.25m. Followed by a $2.5m Madison Park mid-century that our friends tastefully remodeled before these sellers bought. Other good listings – a remodeled MCM in Seward Park and one in Bellevue. On Mercer Island we like this contemporary. And we don’t often point out townhomes, but we dig this “OG Pb Elemental” and this gProjects one. But the big question is, what would do with the $2.5m Ark Lodge?
Remodel update – after a week of demo our living room, kitchen and dining area is nearly gutted.
Sure enough our flat roof that leaked for over a year resulted in a ton of mold. Looking forward to seeing the roof removed once there is sun in the forecast.