Seattle weekly wrap-up: buyers aren’t slowing down for the summer
Buyers are out in force despite new listings experiencing the expected summer slowdown (they’re down 8% week-over-week, while homes going pending is up 3%). Why do I say buyers are out in force? Just check out some of these war stories from this past week:
- Queen Anne home listed at $1.675m had 13 offers
- Central District home listed at $1.2m had 18 offers went for $1.5m+
- Capitol Hill townhome listed at $1.2m had 9 offers
- Portage floating home had 3 offers, winner waived everything and didn’t pre-inspect
- Eastlake floating home pending in less than 10 hours to an all cash offer
Clearly there are many more buyers than listings. The big question is – will the September bump in new listings be enough to fill the demand?
Of those 323 new listings, what caught our eye – an updated midcentury in Magnolia, a Mercer Island midcentury, and a $6.5m Newport Shores contemporary. Loft fans don’t miss the penthouse at 80 S Jackson or a loft at the market. And finally here’s a $2.5m a-frame end-of-dock floating home.
In condo news, Emerald is now 50% sold hot on the heels of First Light who is at 65%.
PS. May we all invest like Oprah. She paid $8.3m sight unseen for a place in the San Juans and sold it for $14m.