š 44 stories in Denny Triangle? 32% over asking on Phinney Ridge!?
The Mid-June Market Rush (And Whatās Next)
This week marks the final rush of new listings before the Seattle real estate market slows to a crawl for the Fourth of July. Next week, everyoneās focus will shift to fireworks and long weekends, so if youāve been waiting for fresh inventory, this is your window.
Keep in mind that we'll likely see a brief one- to two-week burst of activity right after the holiday before the true quiet summer slowdown sets in.
A New 44-Story Tower in Denny Triangle?
The big news last week is that a developer is planning a massive 44-story tower in the Denny Triangle. Concrete details are still incredibly hard to come by. I personally reached out to the architect and developer for the inside scoop, but haven't received a reply yet. Is it a real project, or just more hype than substance? We'll let you know if we hear anything.
Condo Market Reality Check
We just learned that a penthouse at Cristalla was recently taken back by the bank. Given how soft the downtown condo market has been lately, itās not entirely surprising.
Just Listed: 3 Incredible New Homes
We were wildly busy last week.
- The Ultimate Eastlake Houseboat for $2.3M: Positioned second from the end of the dock for incredible water views. Best of all? It comes with its own boat slip and a dedicated parking spotāa massive rarity for Eastlake living.
- New Construction in Madison Valley for $1.875M: Built by our close friends, this brand-new home features the highly coveted (and hard-to-find) 3-bedroom, 2-bathroom layout all on the upper level. It also boasts custom design details you rarely see at this price point.
- Wallingford Cash-Cow Investment: A proven money-maker. Itās currently operating as a successful Airbnb, but itās also perfect for an owner-occupant who wants to live upstairs and "house-hack" by renting out the 2-bedroom basement unit.
Moving Day: Happy Clients!
We also handed off keys to some amazing buyers last week:
- Delivery by Boat: We delivered keys by boat to clients who just scored a highly affordable floating home (thanks to a smart leased-slip setup).
- The Ultimate Pivot: We successfully guided a client away from a townhome they weren't in love with and negotiated them $100K off a single-family home in Leschi instead. We canāt wait to see how they transform the space!
- 1031 Exchange Victory: We helped a client navigate the complex 1031 exchange process seamlessly, snagging a $615K Wallingford condo plus a massive $50,000 seller credit.
Thinking of making a move before the summer slowdown?
Reply directly to this email; we'd love to help you find your next home (ideally on the water!).
Thinking of selling this fall?
Believe it or not, top stagers are already booking up for September! Let's connect now to get ahead of the autumn rush.
š Homes we just listed
- An Eastlake houseboat, second from the end of the dock
- A brand new home in Madison Valley
- A Wallingford money maker
The other homes weāre selling:
- šļø In Belltown - Condo with a view, an even bigger condo with a view, or a new one ā update this one
- šļø Corner unit at the Emerald
- šļø West Seattle townhome with built-in income potential
- šļø Magnolia sunny, corner-unit condo
- šØ Build your dream home on Perkins Lane
- š„ļø An Eastlake houseboat and a Westlake houseboat
- šļø A great short/long-term rental or UW pied-Ć -terre
Wonder what your home is worth? Just hit reply.
šæ Our Latest YouTube Video
š Listings that caught our eye last week
- Most expensive pending: Medina waterfront at $22.8M
- Highest % over asking sale: Phinney Ridge bungalow for 32% over
- Most expensive sale: Clyde Hill 1.29-acre estate for $7.8M
- Least expensive sale: Lake City condo for $240K
- Most popular Seattle listing on Redfin: Madrona craftsman for $1.37M
š° Must-read real estate news
- āIām bullish on Seattleā: Developer unveils plans for 44-story ultra-luxury condo tower in Denny Triangle (KIRO Newsradio)
- King Countyās cooling divide: New data maps our AC haves and have-nots (Seattle Times)
- Seattle City Light eyes biggest bill increases in recent memory (Seattle Times)
Next week, we wonāt see many new listings
Seattle: 324 new listings last week, down 12.67% w-o-w
Eastside: 283 new listings last week, down 8.71% w-o-w
Buyers have pulled back
Seattle: 183 pending last week, down 9.41% w-o-w
Eastside: 149 pending last week, up 23.14% w-o-w
š„ The hottest new listings
The Tudor That Hides a Modern Masterpiece for $3.7M
$3.25M Green Lake Modern Contemporary
Check out last weekās market update, Timing the summer market: what buyers & sellers need to know
And donāt miss our next update, sign up for our weekly newsletter.
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