Seattle weekly wrap-up: new listings slow again
New listings declined for the second week in a row and will likely decline next week before a huge decline the week leading up to the 4th of July. So in our experience buyers likely have two more good weeks of new listings before the summer slow down – next week and most likely the week after the 4th of July. However, buyers will get a second chance for the month after Labor Day weekend when we see a fall bump in new listings.
In the trenches, the market is still hot. We had a client offer on a $6m home but it had 10 offers. Another offered on a house in Leschi that had 5 offers and went 20% over. And it seems like most of the homes our clients are considering this weekend, even condos, are expecting multiple offers.
Interesting listings this week – a Ralph Anderson in Burien, a midcentury in Medina, a $4.2m NW contemporary in Bellevue, the first resale on Officer’s Row at Fort Lawton, a cool mid-70s NW contemporary by Lake Sammamish, a place at Hawthorne Square with a $330k remodel, a boat slip on Lake Union, and we re-listed a newer standalone home in Fremont.
Vacation places of the week – a log “cabin” at Snoqualmie Pass or there is this $22m estate on San Juan Island.
