New Listings Are Back—But Not for Long
New listings rebounded this week after the typical Memorial Day slowdown. If you’re thinking about buying or selling, now’s the time. Expect about three more active weeks of new inventory before the usual summer slowdown sets in. After that, we likely won’t see another bump in new listings until after Labor Day.
How’s the market moving?
We’re still waiting on the full May numbers (coming next week), but here’s a sneak peek: In May, Seattle saw 1,615 new listings. Of those, 800 went pending within a week—that’s nearly half moving fast. Clearly, well-priced homes are getting snapped up quickly.
Noteworthy sales last week
- Most expensive pending: Meydenbauer Bay waterfront at $13M
- Highest % over asking sale: Admiral Foursquare for 47% over
- Most expensive sale: Clyde Hill modern for $12.225M
- Least expensive sale: Magnolia condo for $300K
Links
- The housing market was supposed to recover this year. What happened? (NYT)
- Existing-home sales in 2024 were slowest in decades (NYT)
New listings bounce back after Memorial Day slump
Seattle: 406 new listings last week, up 46.6% w-o-w
Eastside: 300 new listings last week, up 55.4% w-o-w
Homes going pending by week
Seattle: 181 pending last week, down 27.9% w-o-w
Eastside: 128 pending last week, down 21% w-o-w
Eye candy
$1.89M Issaquah A-frame by Sandler-Kilburn
$1.5M Innis Arden midcentury modern by Jerry Gropp
$1.25M Seabeck midcentury modern
Check out last week’s market update, Lakefront Luxe: See Kenny G’s Old Mansion for $55M
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