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Home / Market Report / Seattle weekly wrap-up: way more new listings than homes going under contract

Seattle weekly wrap-up: way more new listings than homes going under contract

By May 21, 2022

Market Report

This week we saw 447 new listings, the busiest week of the year so far! It will likely end up being the busiest week of the year as this coming week will be slow due to the long weekend. Plus listings usually slow down as we approach summer with a bump in new listings after Labor Day weekend. Notably, it was another slow week for homes going under contract as just 274 listings went under contract. So while we certainly saw a few homes get bid up (north Ballard was hot!), and some quickly go pending (like this $5m newer QA home, a loft at the Capitol Hill firehouse, and a Portage Bay floating home), many homes went past their offer review deadlines with no offers. This is bad news for sellers who dragged their feet on listing this year but should offer frustrated buyers some relief. Buyers are also getting slight relief with mortgage rates that fell to a 3-week low. (But no relief was to be found in the stock market this week.)

Fortunately for us real estate looky-loos, the busiest week of the year for new listings brought us some great ones! My faves in Seattle are a penthouse at Monique Lofts with 20′ ceilings, a brand new $3.9m Capitol Hill house (if you’re looking for a $3-4m new home we have a few off-market ones on our radar, just reach out) and an Eastlake townhome with a luxe modern remodel. We also listed a Queen Anne Victorian with great views of the Sound.

On Mercer Island, don’t miss this Ralph Anderson or this 1957 Fred Bassetti for sale for the first time. In Kirkland, there’s a midcentury home perched in the trees of Holmes Point. In Shoreline there is this $3m Paul Thiry. In Sammamish a 1964 rambler. Or if you need a big project, this 1974 home in Redmond.

Island lovers, this midcentury home on 15 acres on Shaw Island is a must-see. And I dig this NW home in the Poulsbo area.

Though perhaps the most noteworthy this week is a $19m spec home in Medina!?

Enjoy the sun this weekend!

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.

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206-618-1600