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Home / Weekly Market Commentary / Busiest week of the year for new listings

Busiest week of the year for new listings

By May 22, 2024

Weekly Market Commentary

Last week was the busiest week of the year for new listings! (This week will be slow for new listings because sellers will likely hold off listing ahead of the long weekend.) This is good news for buyers as the number of homes for sale has dramatically increased over the last couple of weeks (check out this graph, wow). This should give most buyers more selection and better pricing, but if you’re looking for a $1m to $3m single-family home, unfortunately, this likely won’t apply to you.

Last week we gave keys to clients who bought just blocks from our office, keys to our 10th buyer at Nexus who bought a penthouse listed for $2.4m in 2020 for just $1.3m, and our sellers were thrilled their two-bedroom Fremont condo closed with multiple offers. We also put two of our listings under contract. It was busy!

We ended the week making a video of First Light craning a $1.8m McLaren Elva onto their 47th-floor pool deck. This was to promote their giveaway of a custom McLaren GTS if you buy their last penthouse, #4502 for $5m.

Links

Busiest week of the year for new listings!

Seattle: 388 new listings last week, up 26% w-o-w
Eastside: 277 new listings last week, up 4% w-o-w

But buyer activity has been cooling…

Seattle: 196 pending last week, down 8% w-o-w
Eastside: 153 pending last week, up 20% w-o-w

Eye Candy

$9.24m Clyde Hill NW contemporary

$6m Washington Park NW contemporary

$5.5m West Bellevue NW modern by Ibsen Nelsen

$2.5m Bainbridge Island contemporary

$2.2m Bellevue midcentury modern by Fred Bassetti

Keep reading

Check out last week’s market update, Seattle’s new median price is eye-watering at these rates

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I own and manage Urban Living, a boutique Seattle and Bellevue real estate brokerage. I love lofts, floating homes, new construction, and mid-century moderns, but I will help you buy or sell just about anything!

Get in touch to:

  • Understand the market
  • Find your perfect home
  • Sell your home

Contact:

206-203-6242

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