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Seattle weekly wrap-up: even more new listings!

By September 17, 2022

Market Report

Usually, the week after Labor Day is the busiest for new listings this time of year, but this year it was last week during which we saw 387 new listings in Seattle. Many of those new listings are rather optimistic with nearly 20% having offer review deadlines. Though of the 1750 active listings in Seattle, 10% cut their prices last week alone. I suspect many sellers haven’t cut grasped what 6.35% mortgage rates mean for buyers…

As for homes going under contract, we saw 207 go pending. The big question will be, how much appetite will buyers have for the 1,750 homes on the market given 6.35% mortgage rates and a depressing stock market? We’ll find out in a week or two!

We were busy this week listing a rambler in Lynnwood that is surprisingly urban and getting more so. We also put together a short video of our hardhat tour of the Graystone. Or check out the blog for photos of the nearly finished units on the fifth floor; it is really coming together at 800 Columbia St! We also pulled the numbers for August and put them on the blog – Seattle’s single-family prices continued to decline month-over-month (but are up year-over-year), while condo prices are up.

With so many new listings, what stood out? This four-year-old custom home in Leschi is pretty nice! If you’re looking for new, this Halverson build on Queen Anne looks promising. Or here’s a new build in Magnolia.

Midcentury fans, buckle up! Which will it be? A relatively untouched midcentury on QA that would be a fun project, a tiny, but cute, 850 square foot Ballard one, a Broadview Paul Hayden Kirk for $1m, or an updated one in Hawthorne Hills? Or an updated one in Mount Baker? I also love the outside and location of this waterfront one outside the Locks.

Loft fans – here’s an NYC-style loft with custom steel flooring in Belltown, or here’s a $2.5m live/work space in the Banner Building that was recently totally remodeled. For the more ambitious, here’s a Pioneer Square office building that maybe could be converted to lofts? Or the Black Bottle building is for sale.

Floating home fans, or those curious, you can see our recently remodeled floating home and 11 others on the virtual floating home tour tonight. Proceeds go to a good cause, and Urban Living is a sponsor.

Heads up! Our next home buying class is October 6th via Zoom.

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!

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