Seattle weekly wrap-up: where are the promised new listings?
I’ve been telling buyers for months to just wait until the first week of March and you’ll see a lot more new listings. President’s Day and mid-winter break will be behind us and it is time when many new listings hit the market giving buyers more options resulting in slightly less crazy bidding wars. Well, the first week of March did bring 12% more new listings than the mid-winter break week, but it wasn’t a record week for new listings.
Reports from the field are mixed. Some homes are still going crazy. Take this “Green Lake” home north of 85th. Listed at $1.325m we hear it had 28 offers and is pending over $2m. Or 1712 32nd Ave had 15 offers and sold for $350k over. But meanwhile, we had clients offer on a Beacon Hill home and we ended up being the only offer and there are many homes that didn’t get any offers. As a seller, stock market volatility and rates north of 4% would make me nervous. As a buyer, it’d make me very patient.
Of the 281 new listings last week in Seattle the ones that caught our eye were – a midcentury estate in Laurelhurst is back on the market, a large condo at the historic West Queen Anne School, a Meadowbrook midcentury under $1m (but they took an early offer), and a $2m Victor Steinbrueck designed midcentury. On the Eastside, this $9m custom home caught our eye. And in the islands, this waterfront farm with 650′ of sandy beach, made me reconsider living on Lake Union.