Seattle weekly wrap-up: a lot of new listings ahead of a long weekend
Happy long weekend and possibly mid-winter break if you have kids! Given so many people are out of town this weekend and the coming week I was very surprised to see agents put more listings on the market this week than the week before. Usually, new listings slow down this week…
I was also surprised that 4% interest rates aren’t fazing some buyers. For instance, our Wallingford Tudor was listed at $1.5m, had six offers, three of which were over $1.9m, and is pending at nearly $1.97m. Or take this Capitol Hill home listed at $1.675m that had 7 offers and is pending at nearly $2.3m. For both homes, buyers waived nearly all contingencies and the winner of our Wallingford Tudor put $250k of earnest money down and immediately released it to the sellers. HOWEVER, if we look at two weeks ago when 287 new listings hit the market, you’d assume most of those would be pending, but 73 are still active.
Our fave listing this week is a $22m waterfront home in Yarrow Point. If that’s not in the budget, we like this $2.5m waterfront home on the Sound. In terms of landlocked homes, here’s an interesting modern on Capitol Hill. And mid-century fans, there are three great ones – a $1.1m 1958 home by John Burrows, a $1.3m 1959 home by Ira E Cummings, and a $1.7m 1963 home by Robert Hanna.
The NYT isn’t in the satire business, but this story sure reads like one, They Rushed to Buy in the Pandemic. Here’s What They Would Change.