Seattle weekly wrap-up: spring break puts the brakes on new listings
New listings are just a touch higher than last week due to Easter and private school spring break. New listings will likely continue to be light with public schools taking off April 12-16. Could be a good time for buyers as there may be less competition due to other buyers being out-of-town.
The big real estate news this week is Amazon expecting workers to return to an office-centric culture in the fall and the vaccine eligibility date for everyone is moving up. As the world returns to normal we expect some of the pressure to be relieved in the single-family home market and we expect to see an increased interest in condos that have been sidelined by the pandemic. Speaking of condos, Koda announced 5 sales in the last month, Build Urban had two sites foreclosed on (Eastlake condo site and a Rainier Valley one), and Encore in Columbia City, which expects to complete this fall, switched from Realogics to Polaris Pacific for sales and marketing.
We were busy this week listing an amazing mid-century home in Kent with many original details sitting on over half an acre. We also listed a newer standalone home in Fremont with a double car garage and have a loft coming up soon. Remarkably we helped a buyer close on a Belltown condo for $705k while the seller had paid $850k in 2018.
Other agents listed some good homes too. Our fave is the Barn Gallery on Lopez (also featured in Dwell recently). Followed by a Lake Washington midcentury waterfront under $2m, a remodeled Lake Washington waterfront, a midcentury down south, a log cabin in Newcastle, a loft in Eastlake, and I don’t know how to describe this $6m Lake Sammamish “estate”, but it is already pending. Finally, check out this wild place in Gig Harbor.
Thinking of buying this year or next? Check out our home buying class Tuesday from 4-5 pm via Zoom.
Happy Easter weekend!