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Weekly wrap-up: new listings and pendings surprisingly both up

By November 16, 2020

Market Report

The market should be cooling off with the weather but the number of new listings was up 10% week-over-week and the number of homes going under contract up 22%. Thanksgiving next week should put the brakes on things but who knows this year.

How hot was it last week? We were surprised to hear a home our client pre-inspected had 21 offers; plenty of buyers still out there! But buyers are shying away from condos. Both Mira Flats in Bellevue and Pinnacle at Alki cut pricing and One88 seems to have less closings than initial sales.

The big news this week is that open houses are again no longer allowed. This is likely most devastating to new agents who often hold open houses for other agents as a way to jump start their business. But as the market has shown over the last six months, homes are selling briskly without them and in the interest of public safety, we agree with them going away.

Of those 281 new listings last week, our fave is a beautifully remodeled contemporary on Capitol Hill. We also like this Portage Bay midcentury with two boat slips and this West Seattle midcentury. And not surprisingly this dreamy off-the grid Vashon modern cottage went fast!

Tomorrow is a big day for our remodel as we’re craning in a 34′ i-beam into the second story of our floating home. To do so we have to go over our neighbors… Should be interesting! Follow along on my Instagram.

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.

Get in touch to:

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

Contact:

206-618-1600