Homebuyers not seeing much relief
The Seattle Times reports that Seattle-area first-time homebuyers may not see much relief this year. We agree with the edit that it is single-family homebuyers who may not see much relief. Townhome and condo buyers have it a little easier – just yesterday, we handed off keys to our client, who bought a loft in Tacoma for $100K less than what it sold for a year ago. Meanwhile, a single-family home we listed in south Seattle went pending in a day.
This week will likely be slow for new listings, as we have a three-day weekend coming up. Next week will likely also be slow, as many schools are on mid-winter break, and buyers, sellers, and agents are headed out of town for warmer weather. The real estate season will start around the first week of March, as it does every year.
Noteworthy sales last week
- Highest % over asking: Seward Park rambler AND Greenwood Cape Cod, both for 29% over
- Most expensive: Broadview estate for $10.5M
- Least expensive: First Hill condo for $278K
Links
- Proposal to allow housing in Sodo sets off firestorm (Seattle Times)
- Seattle to vote on funding for social housing (Seattle Times)
Expect two slow weeks ahead of us
Seattle: 244 new listings last week, down 4.3% w-o-w
Eastside: 139 new listings last week, down 9.5% w-o-w
Still tracking 2024 very closely
Seattle: 192 pending last week, down 4.5% w-o-w
Eastside: 103 pending last week, down 9.6% w-o-w
Eye candy
$5.65M Enatai midcentury modern
$1.925M Magnolia NW contemporary
$1.85M Magnolia midcentury modern
$1.19M Snoqualmie Pass modern chalet
Check out last week’s market update, See the craftsman that went 20% over
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