Seattle weekly wrap-up: new listings up 23%
Finally, some new listings! Last week buyers saw 231 new listings, up 23% week-over-week; this was the first week with more than 200 listings in four months! Buyers are also seeing a lot more offer deadlines – during the last few months of 2022 5-10% of new listings had offer review deadlines, while this past week over a third of new listings had an offer review deadline!
As for homes going pending, even though rates are just under 7%, buyers put 177 homes under contract up nearly 20% week-over-week. Some of those got competitive – like this home on NW 84th St that had 14 offers, or this one on Phinney with 15 offers.
Our favorite new listing last week was this $6m west-facing north Mercer Island waterfront home. We hear it is a hot one that is likely going to attract multiple offers. Speaking of waterfront, I missed this $13m Evergreen Point teardown that went pending in 70 minutes and closed in 10 days. In terms of more attainable homes, there’s this penthouse loft in Eastlake I like. And if you want to develop a 27-home subdivision on Snoqualmie Pass, here’s your chance, the land is only $10m but rather close to I-90.
Don’t miss our next home-buying class on March 8!
P.S. we feel like we’re outgrowing the “urban” moniker in our name but have failed to find a replacement. If you have a great idea, hit reply! I don’t know what the prize is but it’d be something amazing :).