Buyers! Inventory is blooming
Spring is in full swing, and with spring break now behind us, we’re expecting a wave of new listings this week. Photographers, sign installers, and stagers are all reporting a surge in activity. Buyers, this is your moment! We’re entering the sweet spot of the year when you’ll see the best selection of homes. That is, if you can stomach 7% mortgage rates and stock market volatility.
Speaking of buyers, Seattle buyers remained active last week; however, on the Eastside, we’ve seen a noticeable pullback in the previous three weeks. See the chart below; it tells the story well.
We didn’t have much of a break last week, haha:
- We just helped our ninth buyer purchase at Spire! We’re the top buyer’s agent there. Spire is now down to their final 40 homes and is offering a $50K incentive on upper-floor two-bedrooms.
- Congrats to our buyers C&T on buying their first home—a charming two-bedroom condo near the airport. Perfect for C, who’s in training to become a pilot!
- Congrats to sellers T&J on the successful sale of their Kenmore home! Multiple offers and a short rent-back is giving them breathing room while we hunt for their next place.
- We helped E&K sell their West Seattle townhome to a fantastic first-time homebuyer; they’re headed to Spire, too!
- Our Belltown view condo listing is now pending very close to list price in just a week. Rare for a Belltown condo in this market.
Condo news:
- First Light welcomed over 2,000 visitors through their Dream Homes two-week-long event. Missed it? Watch our tour on YouTube.
- Our loft listing at 1310 E Union is back on the market. This one is a modern marvel—watch our YouTube tour.
Noteworthy sales last week
- Highest % over asking: Kirkland tri-level for 33% over
- Most expensive: Medina Heights for $8.9M
- Least expensive: Wedgewood condo for $280K
Links
- Early Microsoft employee’s Hunts Point mansion fetches $12.5M million (PSBJ)
- Seattle metro’s property tax bills 80% above national average, report says (PSBJ)
- Downtown Seattle is perking up, new report shows (Axios Seattle)
- Tarriffs to spur ripple effects across real estate, industry leaders warn (Inman)
- Seattle leads the pack as concessions surge in some US home markets (PSBJ)
Sellers slowed down in the last two weeks, this week should be BUSY
Seattle: 364 new listings last week, up 0.3% w-o-w
Eastside: 255 new listings last week, down 1.5% w-o-w
Eastside buyers have really hit the brakes
Seattle: 216 pending last week, down 3.6% w-o-w
Eastside: 105 pending last week, down 16.7% w-o-w
Eye candy
$5.2M Mercer Island contemporary
$2.7M Capitol Hill re-imagined 1925 farmhouse
$2.5M Mercer Island midcentury modern with moorage
Check out last week’s market update, Is the Seattle market shifting? Here’s what we’re seeing
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