Weekly Wrapup – Peak New Listings!
Buyers, we’re at peak new-listings this week as this will likely be the busiest week of new listings all year. Next week will definitely be slow because of the long weekend, but it’ll still all be downhill from here on out. The great thing about a lot of new listings all at once is not just that you have better selection, but it spreads buyers out and results in less intense bidding wars. It also feels like the market is slowing down just a touch which will work in your favor, so don’t give up hope if you’re feeling burned out and be sure to check out this amazing Seattle Times survival guide or come to our next home buying class.
Sellers, time to get on the market! You want to be pending before July otherwise you’re waiting until September or 2019. And think twice about your listing price, more places are getting only one offer so be prepared to accept only one offer at your list price. If you’re curious how I prepared to sell my places, I detailed it all on the blog.
Here are the details on some of the deals we were involved in recently:
- Our charming co-op listed at $300k had 3 offers, all 3 were cash, and it is pending above $350k. We were surprised with the level of interest!
- A two bedroom condo in Magnolia listed at $520k had 3 offers and we got it at a $550k with a clean, but financed offer
- A one bedroom in North Seattle listed at $300k that we expected to go for $350k+ had only one offer, ours! But the seller wanted $315k so that’s what we paid.
- Pike/Pine condo listed at $825k had 5 offers and went over $900k, so $670/sq ft. Last sale in the buliding was in March for $609/sq ft
In other news:
- The mayor is fast tracking back yard cottages – yay!
- We’re not building enough :(
- Seattle Times, People rush to boats
