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Seattle weekly wrap-up: light at the end of the tunnel for downtown?

By February 19, 2023

Market Report

The big news this week dropped right before the weekend, Amazon is requiring employees to be in the office 3 days a week. After years of floundering, hopefully, this gives the downtown condo market a shot in the arm – condo prices peaked in 2018 and haven’t recovered. Plus Emerald, First Light, Graystone, and Spire still all have many condos to sell.

As predicted (due to the long weekend) new listings were flat week-over-week, with 188 new listings. Meanwhile, buyers put 177 homes under contract, essentially flat week-over-week as well. This coming week will also likely be slow as families are out of town for mid-winter break. We ended the week with mortgage rates at 6.8%, notching a new high for the year :(.

We were busy this week helping a buyer negotiate a good size credit on a West Seattle townhome so they can buy down their rate and rustled up 4 offers for our Fremont townhome after two weeks on market!?

Given it is a long weekend, I’m surprised so many good listings hit the market. Our fave the $1.1m Norsen house and this $1.575m Seward Park MCM that is already pending. Loft fans don’t miss this Belltown one. Or here’s a nice penthouse at Escala. If you want to live the beach life, two great options in West Seattle on Beach Drive, one for $2.6m and one a bit further south for $2.3m. Or live the ski life at this Glacier contemporary for $1.1m. Or how about 40 acres encompassing a lake!?

Our next home-buying class is March 8!

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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