Seattle weekly wrap-up: new listings are here!
Welcome to the fall real estate market! After the slowest summer for new listings since 2019 this week was a busy one for sellers and their listing agents who brought on nearly 350 new listings giving buyers a lot to look at. I expect we’ll have 2-3 more weeks of seeing more than 300 new listings each week before the market slows down for winter (we seem to be closely following 2019’s new listing pattern.) Sellers were not just busy with new listings; 167 listings reduced their prices last week (there are now 1641 active listings in Seattle).
As expected, it was a slow week for homes going under contract with just 144 listings going pending, making it the third slowest week of the year. It’ll be interesting to see what buyers’ appetite is going to be this fall with rates at 6% (savvy buyers are negotiating credits from sellers to buy down their rate and then will refi when rates hopefully drop).
We were busy this past week listing a $1.8m NW contemporary perched over the Sound on Perkins Lane. Amazing views! But it does need a remodel, so bring your GC. We also listed a move-in-ready loft at Monique with parking for $650k and have a few more listings coming up in the next few weeks. Sellers now is the time to sell if you want to sell in 2022.
What caught our eye? If you want to live on the water, here’s a $6.5m Portage Bay “compound” offering many possibilites. Or if you want something simpler, here’s an Eastlake floating home that’s livable as-is, or would be a good candidate for replacing with a new home.
For mid-century fans – a great 1966 one in Wedgwood, or a 1948 midcentury in Magnolia for $1.385m. For NW contemporary fans – a Gene Zema-designed one for $2.8m.
This new home by Aedifex in Windermere listed at $3.2m sure went ahead of its offer deadline…
Though my fave is this updated 90s contemporary in Washington Park, wow! With this $4.6m Bainbridge Island midcentury as a close second.
If real estate events are your thing – don’t miss the floating home virtual tour this year (our recently remodeled home is on it!) or the Seattle Modern Home Tour.