Seattle weekly wrap-up: spring break?
I was surprised to see new listings in Seattle up over 6% as we head into Seattle public school spring break. I was not surprised to see that the number of homes going under contract was down (this past week was private school spring break.) Of course, the market is still bonkers… for instance, this Green Lake condo had 15 offers!
The second headline this week is that the numbers for March are in and for single-family homes in Seattle prices are at an all-time high. We’ll likely see that increase for another month or two but I think we’ll see median price decline as we go into the second half of the year much like we did in 2018. Sellers sell now! Buyers, be patient. And for condos, we buried the lede in this post, check out the number of condos that went pending in March. Wow!
We were busy this week reviewing multiple offers on our Kent mid-century, listing a beautifully remodeled loft on the waterfront, listing a Capitol Hill pied-a-terre, and helping a client beat 12 other offers for this Queen Anne midcentury (we weren’t even the highest offer!).
So many new great listings this week! For starters, how about this $9m condo at the Millennium Tower (this unit was sold by Howard Schultz as an unfinished shell for $7.5m in 2017). Or how about this 70s PNW contemporary in West Seattle. Homes that also caught our eye – a midcentury in Meadowbrook, a great contemporary remodel on Mercer Island (they added a second story!) this 2010 home on Queen Anne, a rambler flip on Mercer Island (but a good looking flip!), and this midcentury rambler in Fircrest for only $500k (I had to look up where Fircrest is). Oh and the craziest new listing, a downtown hotel! Unpriced. Offers due April 20th.
If you want to escape the city – a waterfront 80s contemporary by the Bumgardner Partnership, a waterfront Whidbey contemporary, or a contemporary on Bainbridge Island. Note, we’ve been helping some buyers with vacation places and the market is just as crazy as Seattle.