Green Lake home gets 5 offers
It’s been a wild start to the year! Here’s a quick recap of the last week: we listed a $140K houseboat (hello, waterfront living!), had a buyer bail on one of our listings (classic cold feet), and another backed out of a 20-year-old townhome after realizing it needs some serious updates. On the bright side, we’ve been busy writing offers—today’s was for a Green Lake home that received five offers, and it’s looking like it’ll go at least 10% over asking!
Having chatted with many clients and other agents, it seems like everyone is bullish on 2025 – buyers have accepted rates in the 7s, the stock market is doing well, and Amazon’s return-to-office is bringing people back to the city.
P.S. Our hearts break for the people of Los Angeles; while our fire risk here in Seattle and Bellevue is low, our earthquake risk is not.
Noteworthy sales last week
- Highest % over asking: Redmond rambler goes 23% over
- Most expensive: $12M Clyde Hill new build by Adam Leland Homes
- Least expensive: $281K First Hill condo
Links
- How 7% mortgage rates will change housing for a decade (HousingWire)
- Bellevue mansion hits market for $8.9 million with auction date looming (PSBJ)
- Salt & Straw pulls plans for ice cream shop at Bellevue development (PSBJ)
- Market for spec mansions heats up on Eastside (PSBJ)
- Bellevue property once owned by prominent business leader hits market (PSBJ)
New listings are here!
Seattle: 241 new listings last week, up 234.7% w-o-w
Eastside: 139 new listings last week, up 202.2% w-o-w
Buyer activity mirrors 2024 so far
Seattle: 119 pending last week, up 91.9% w-o-w
Eastside: 69 pending last week, up 109.1% w-o-w
Eye candy
$1.6M Portage Bay NW contemporary
Eye candy <$1M
Check out last week’s market update, Happy New Year + a look back at 2024
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