Seattle weekly wrap-up: rates are up, activity is down
We’re continuing to have a really slow fall thanks to nearly 8% interest rates; last week we only saw a little more than 200 new listings hit the market. Remarkably, and optimistically, nearly 1 in 3 new listings has an offer review deadline. However, buyer activity is also muted with only 158 homes going pending last week but it is at least close to the buyer activity we saw in the second half of last year and 2018 (for now!).
What caught my eye last week is this Fauntleroy listing for $3m which includes a waterfront cottage and a view contemporary behind it. The other waterfront home that caught my eye is this mobile home on a great lot in the San Juans (you’d have somewhere to live while you build?). Back in Seattle, I like this $1.8m Roger Newell Contemporary in Montlake and this $1.5m midcentury modern in Windermere is already pending.