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Home / Market Report / Seattle weekly wrap-up: bidding wars are back?

Seattle weekly wrap-up: bidding wars are back?

By January 17, 2023

Market Report

Last week gave us our first real look at how the market might fair in 2023 and so far it seems much more promising for sellers than the second half of last year. It is likely better for buyers too, with rates down to 6.17%, but there were some bidding wars, so keep reading!

New listings are up 24%

Sellers listed 176 new listings in Seattle this past week, up 24% week-over-week. 48 of those are already pending. 4 of those 48 went pending the same day they were listed.

Homes going under contract are up 100%, and bidding wars are back

Meanwhile, buyers put 129 homes under contract in Seattle, up 100% week-over-week. We also heard of some bidding wars – this Wedgwood listing had 7 offers and went $100k+ over, meanwhile, in Ballard, this listing had 4 offers, and in Olympic Hills, this home had 4 offers. As for our listings – our new lofty townhome went pending in just eight days.

Our fave listings of the week

At the top of our list is a midcentury designed by John Burrows for $1.1m! Meanwhile, two starter lofts caught our eye – one at Veer, the other at the Talisman. For a larger loft check out this NW $1.65m loft at Mosler.

Remarkably this Innis Arden home built in 2021 listed at $4.85m went pending in just three days.

Looking for a cool rental? The Tom Kundig-designed Hammer House is for rent for $5,999 a month.

Next home buying class

Our first home-buying class of the year will be on February 7th, or just hit reply if you want to grab a coffee and chat one-on-one sooner than that.

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