Seattle weekly wrap-up: fall is here and buyers are frustrated
We only saw 271 new listings last week. At 31% fewer listings than the week before I had to double-check I hadn’t made a mistake! This is really bad news for buyers as there are still a lot of buyers looking for a home but the fall slow down is here. For instance, we had clients offer on a home in Whittier Heights yesterday. Listed at $1m, $1.1m seemed like a fair price, but it went for 27% over and had 19 offers. That means a lot of disappointed buyers, including our own. But this also changes my advice to some sellers we’re chatting with. Typically at this time of the year, our advice is to wait until the new year to list, but there are so many buyers still out there, a seller could list now and do very well.
Remarkably nothing caught our eye last week! Though we had the good fortune of helping a buyer get under contract on our neighbor’s floating home.
If you’re looking for a deep dive on the market and how to buy right now or in 2022, we’re putting on a home buying class tomorrow at 4 pm over Zoom.
P.S. remember that $8.5m Shoreline home we featured? Apparently, the remodel cost $4m and it has never been lived in.
