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Seattle weekly wrap-up: still bonkers

By March 22, 2021

Market Report

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.

What caught our eye? This 2016 contemporary listed at $3.9m already pending, a 2006 Contemporary in West Seattle, a contemporary acreage in Bothell, and a penthouse at Insignia.

We’re hosting a Zoom home buying class April 6th at 4pm if you want to know how to buy in this market.

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