Seattle weekly wrap-up: busy season, here we come
Is it May already!?
Whether we’re ready for May or not, it means we’re entering what are typically the two busiest months of the year for Seattle real estate – more new listings hit the market and more homes go pending in May and June than any other months. While it seems like we’ll see more activity over the next two months than earlier this year, activity will likely be well below the levels we’ve seen in previous years. The culprit? Take your pick – layoff fears, tech stock prices, and/or high interest rates (up to 6.73% today).
Looking at the weekly data – sellers took a breather last week putting 277 new listings on the market in Seattle, which is down 8% week-over-week. But on the other hand, Seattle buyers were busy putting 245 homes under contract which was up 22% from the week before.
Of those new listings my fave are a 1963 in Fauntleroy and a Gene Zema midcentury in Lake Forest Park with a lot of potential but the stand out for me is this nicely remodeled 1939 home in Magnolia. Need a getaway? How about this waterfront modern on Lake Cle Elum or this nearly new modern waterfront compound on Bainbridge?
Last week we also got a sneak peek at the Mari Bellevue sales center! We’re really excited about Mari as a slightly more affordable alternative to Avenue, plus it is the only Bellevue condo with a rooftop amenity open to everyone. I suspect Mari is going to be very popular and rightly so.
Heads up that our next home-buying class is this Wednesday at 4 pm! Sign up here.