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Seattle weekly wrap-up: snow + holidays = slowest week ever

By January 4, 2022

Market Report

Happy new year!

2021 certainly went out with a bang thanks to that snow and deep freeze last week. Even though we’re on top of things we still had the water supply line at our floating home and then our rental freeze (fortunately no pipes burst!). We also had the furnace stop working at our rental which took 20 phone calls to find someone willing to brave the icy streets to diagnose (thanks Glendale HVAC!) Hopefully, your homes faired better.

While the weather was wild, it coupled with the holidays resulted in a very quiet real estate market – there were only 25 new listings last week which is the fewest we’ve seen in a week. Of those 25, remarkably only 5 are still active. In total buyers put 75 places under contract, making it the slowest week of the year in 2021. I expect this coming week to be slow for new listings, a bit of a snow hangover. For instance, we were going to bring a new listing on this week but the snow pushed the yard work out. Typically though we don’t see a lot of new listings until late February/early March.

It feels like buyers are eager to get going on home buying this year leading me to expect that at least the first half of this year is going to be pretty hot and a continuation of what we saw last year – lots of buyers and not enough sellers. If you’re thinking of buying this year, we’ll be holding a home buying class next Thursday (Zoom). If you’re thinking of selling, I’d recommend listing sooner rather than later.

A big thank you to everyone who donated to our Mary’s Place fundraiser! The cold weather is a reminder that everyone needs a warm home. So far you’ve contributed $2,575 which we’ll be excited to match tomorrow! So it isn’t too late to donate, just forward me your receipt. Last year, after the match, we raised $4,400 so we’re excited to raise more than $5,000 this year.

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