Seattle weekly wrap-up: busiest week of the year for new listings?
Will this past week have been the busiest week for new listings at 441 new listings in Seattle? Using 2019 as a historical guide (as 2020 and 2021 were very abnormal years), it quite possibly could be. The other number we’re closing tracking is the number of homes that go under contract each week. Last week, just 269 went under contract. We’ll be closely watching this to see how many of last week’s new listings go pending this coming week. With high-interest rates, a volatile stock, and a crypto market, we’re all wondering what will happen with real estate in Seattle. While too soon to tell, it feels like more homes aren’t selling and so inventory is growing.
When we weren’t hitting refresh on stock prices or Redfin, we were busy this week listing two condos at the Gridiron, #906 for $699k and #1111 for $499k, and we reduced the price of a great standalone townhome in the Central District that I’m surprised is still available (we lowered the price to $650k). Meanwhile, our Georgetown lofty townhome went pending on its offer review day last week.
Our favorite listings this week are a floating home in Portage Bay and a $10m new modern contemporary on the Eastside. I bet the sellers of this $3.75m Leschi home are the most interesting people ever. And if you’re into expensive lofts, don’t miss this lofty QA townhome for $2.25m or this $1m loft at Madison Lofts. Further afield, here’s a $5m Olson/Sunberg in the San Juans, and here’s a glass and steel condo in Bellingham for $2.8m!?
I’ve had a few questions about our “fire house“. Good news! A year after the fire, we’re about a month away from moving back in! But won’t be living there long as we’re breaking ground on a new floating home this week… (Can never have too many house projects on the go!)
P.S. in the last newsletter I wrote: “mortgage rates are near an all-time high” which of course they aren’t! I meant they’re near an all-time high for the year/decade/recent memory. The highest rates ever were 18%+ in the early 80s. So historically, rates are still low! Haha.