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Seattle weekly wrap-up: 14 offers in Wallingford!

By August 15, 2022

Market Report

Last week a charming Wallingford home listed at $1m had 14 offers and went 25% over asking! Wow! Surprisingly still many buyers out there. Congrats to the listing agent and his sellers and thanks to a reader for tipping us off.

But what are the numbers saying? New listings ticked up a few to 279 (a little post-Seafair weekend bump?) while the number of homes going under contract was down to 205 (for the most part, buyers are on vacation). At this point, most sellers are holding off to list until after Labor Day while savvy buyers are lowballing the sellers currently on the market. We’re certainly finding some sellers willing to negotiate but some are still clinging to early 2022 pricing.

On the blog we dug into the numbers for July. For single-family homes, prices are down $50k off their peak but yet are still up 10% year-over-year at $950,000 while the median condo price declined to $486,000.

What caught our eye? A Central District grocery store turned $1m eclectic residence, a $3m new home in Magnolia, a sweet loft in Belltown, and a loft at Trace. Midcentury fans here’s a well-preserved one in Mount Baker and Wedgwood, or here’s an updated one in Magnolia. Though my favorite listing isn’t in Seattle but on Bainbridge Island. Check out this $4.6m beauty. Or if you want unique. How about the Nautilus Tree Farm?

Reminder, we’re doing a home buying class over Zoom Wednesday at 4pm.

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.

Get in touch to:

  • Understand the market
  • Find your perfect home
  • Sell your home

Contact:

206-618-1600