Seattle weekly wrap-up: slow week due to mid-winter break
Due to the Seattle Public School’s mid-winter break, most sellers held off listing last week, so buyers only saw 187 new listings last week. Most years the first two months of the year are pretty slow in terms of new listings, but this year was particularly slow. But March is usually when the number of new listings starts to ramp up, so we should be seeing 300-400 new listings a week soon!
As for buyers, they put just 149 homes under contract last week, this was down 16% week-over-week. I suspect many buyers were out-of-town with their kids for the break. Also, interest rates are the highest they’ve been all year so that doesn’t help…
This past week we were busy listing a Wallingford townhome on a quiet street close to the action. And we had a buyer offer on this Magnolia midcentury that had 7 offers after seeing 175 visitors through its open house over the President’s Day long weekend!
What caught our eye this mid-winter break week? An in-city midcentury modern “compound”, an end-of-dock floating home in Eastlake, a loft in our favorite modern loft building, and a loft in Belltown you could Airbnb (though it is already pending!)