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Weekly wrap-up: 13% of new listings pending in <72 hours

By March 8, 2021

Market Report

Last week 331 new listings hit the market; 13% of those new listings were pending in less than 72 hours (like this $6.4m home in Broadmoor pending in <36 hours.) This is definitely frustrating for prospective buyers, giving them little time to tour, but is fewer listings than I would have guessed.

The other frustrating trend for buyers is sellers who say they will review offers on a particular date only to have the seller accept an offer before that date. Last week 9 of those 331 new listings did just that. The most talked about one was a $2m Mercer Island home that reportedly went pending for $2.6m after less than 48 hours on market. This is understandably driving buyers and agents crazy. So crazy the MLS issued best practices to agents. Our message to sellers is don’t take an early offer; we have yet to hear of an example of a seller who stuck to their deadline and got less money than their early offer.

Of those 331 new Seattle listings, our faves – a Wendell Lovett contemporary from the 70s in Blue Ridge, a remodeled home on Mercer Island already pending, and a remodeled mid-century on Queen Anne. On the Eastside, here’s an interesting one! I also dig this contemporary. And just today a loft in Belltown and a remodeled mid-century in West Seattle caught our eye.

In condo news – we got a look at Spire in person. They’re also offering two year of HOA dues as an incentive in March. In Bellevue, ParqHous dropped the hotel and is now 274 condos.

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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206-618-1600