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Seattle weekly wrapup: 57% of homes sold for a discount

By December 12, 2022

Market Report

Is everyone having a good holiday party season? We hosted two this weekend, and one last weekend, it has been crazy!

Last week Seattle sellers listed 113 homes, down 5.8% from the week before. As for buyers, they put 112 homes under contract, up 8.7% week-over-week.

Compared to past years, even for December, it is slow! But that’s no surprise given mortgage rates. However, we’ve been surprisingly busy fielding interest from both buyers and sellers about 2023. We even helped two buyers get under contract this week who will close before the end of the year – one we negotiated nearly 10% off the last list price and the other got a $15k credit. If you’re curious how much homes are being discounted for right now, we took a look on the blog – 57% of homes sold under asking in the last 30 days. Actually, I’m more surprised that 14% of homes sold for more than asking!

Also, the numbers for November came out – the median price of a single-family home dropped a bit and we’re now at February 2022 prices. The shocker though was downtown condos. The median price dropped 15% to $500k rewinding prices to late 2016 but there were only 17 condo sales in November.

As for what caught our eye – I like this nearly new $3m home in Magnolia. I toured it back in 2018 when it was under construction… This farm silo on 6 acres in Cle Elum intrigued me. What would you do with it now!?

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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