Seattle weekly wrap-up: record week for new listings!
346 new listings last week, a new record for 2023! This is up 30% week-over-week, finally giving buyers some more options. Though looking back at previous years, we should have seen like 450 new listings. So sellers are continuing to hold off and there’s a reasonable chance that we look back at this past week as the busiest week of the year in terms of new listings. Looking forward, this coming week will be slow as we’re going into a long weekend. This means buyers have really just four busy weeks left after Memorial Day before the summer slowdown kicks in.
Speaking of buyers, they put just 205 homes under contract last week. Given the disparity between homes hitting the market and homes going pending, the number of homes for sale at the end of the week took a step up to 1,364.
With mortgage rates ending the week at 6.9% it isn’t surprising buyers are slowing down. But they’re not slowing down entirely – we had clients offer on a Tudor in Bryant; listed at $1.35m it had 4 offers sending it over $1.45m.
My favorite listing of the week is this West Seattle view home, wow! Sold in 2019 for $2m and after listing at $2.5m it is pending in 3 days. Runner-ups – this $4m Holmes Point midcentury and this $3.5m Clyde Hill. But if you’re looking for a loft, here’s one at 1310 E Union, one of my favorite loft buildings.
If you want to join us on the water this summer, our home is still for sale, or you could check out the “Hummingbird House” for $2.2m in Eastlake or a $3m beachy floating home on Westlake. If you’re looking to rent a floating home, someone on our dock is looking to rent, just hit reply!
