Seattle weekly wrap-up: another record number of new listings, but where are the buyers?
It was a record week for new listings last week at 449 new listings but not surprisingly, it was another really slow week for buyers putting homes under contract at just 215 homes going pending. Definitely, a huge warning sign seeing twice as many homes hit the market than are going pending. So it is becoming increasingly clear that the second half of the year is going to look much different than the first half thanks to interest rates, the stock market, and employment. Though rates which peaked for the year at 6.28% are down to 5.85% today, for a 30-year fixed according to Mortgage News Daily.
By far the most amazing new listing is this $8m basically new modern home in Deer Harbor. If you want to fall in love even more – here’s a site from the seller’s journaling the construction. If that’s not in your budget, here’s a Whidbey NW contemporary for $2.5m.
Back in Seattle, our faves are – a $4.7m Ralph Anderson in Magnolia, a $1.3m Fred Bassetti in View Ridge, a $1.6m John T. Ridley in Wedgwood, a 1951 home in Wedgwood, and here’s a potential diamond in the rough in Beacon Hill. Already pending – a $4m new home in Magnolia (wow!) and a Hawthorne Hills 2019 modern. Loft fans – don’t miss this big one at 80 S Jackson or here’s one for half the price and size in Belltown.
P.S. This weekend we finally moved back into our remodel which started in September 2020 but took forever due to a fire causing a huge setback. Photos to come soon!