Weekly wrap-up: buyer demand is incredible

Buyers put over 300 Seattle area homes under contract last week. 76% more than that same week last year. Meanwhile, sellers were more active than the week before but not by much. It sure feels like buyers are going to have a very active first half of the year and sellers would be wise to list sooner rather than later.

The Seattle Times had the rundown on the market in January but oddly included an anecdote about a bidding war for a condo. We found that less than 5% of condos that closed in the first five weeks of this year had been in a bidding war. So if you’re looking to avoid the insanity of the single-family home look to townhomes or condos. We’re also seeing some very well priced condos right now, some selling for 20-30% off their peak pricing.

Some good listings this past week, that all went pending very quickly – an updated mid-century on Beach Drive, a loft at Trace, and a mid-century on the Eastside.

Need a getaway? Check out this contemporary place at Suncadia.

PS. for better or worse, open houses are back and likely here to stay