Seattle weekly wrap-up: not enough new listings for all the buyers out there

We saw just under 200 new listings in Seattle last week. Not nearly enough to satisfy all the buyers out there. For instance, the Greenwood Craftsman we listed last Tuesday is the second most popular home of the week in Seattle with over 17,000 views on Redfin (this one just edged us out). So far we’ve had 150+ showings, 100+ people at the open houses, and received 20 offers. 5 offers went over 30%! While we didn’t intend to underprice it at $1.1m, it is a good example of why agents tell sellers to list early in the year – lots of buyers are fighting over just a few homes for sale. And it is why I’ve told a few of our buyer clients to be patient and wait for more homes to hit the market, which usually happens to start in March.

What caught our eye of those 200 listings? A $2.4m modern contemporary in Madrona and two lofts already pending – one at Eastlake Lofts and one in Belltown. If you’re looking for a waterfront project, here’s one on Lake Washington for $4m, or how about your own island on Lake Tapps for $4m? (Seller had plans for a 18,000 square foot house!) Though the most talked about home in Seattle was this one in Magnolia.

This weekend another home had foundation issues – this time in Bellevue. The first incident was in Magnolia a little over a week ago. Yikes!

Are you a landlord? Planning to build or remodel? Or a homeowner just looking to learn more? The city of Seattle Department of Construction and Inspections is putting on a virtual home fair with an interesting lineup. Also, our next home buying class is February 9th at 4pm over Zoom.