Seattle weekly wrap-up: still bonkers
A year into this pandemic, but with a light at the end of the tunnel, Seattle buyers put more homes under contract last week than any week in 2020 or 2019. I wish I could say there was a light at the end of the tunnel for buyers facing bidding wars, but with new listings flat week-over-week, and the offer stories we’re hearing, not yet.
The craziest bidding war from last week is one we participated in. It was a home with a good, but not great view, that was remodeled, but like 15 years ago, and it received 15 offers and is pending for 50% over list. Meanwhile, we helped buyers win a bidding war on a Hawthorne Hills home by going 25% over and waiving all contingencies. We also helped a seller generate a bidding war on their townhome. Remarkably, it is pending for more than it was listed at last year (it failed to sell last year.)
Meanwhile, on the Eastside, listings are still running behind the last two years and we were impressed to see a $9m new construction home go pending in 4 days.
We’re hosting a Zoom home buying class April 6th at 4pm if you want to know how to buy in this market.