Record number of homes for sale (this year)
Some nice weather is on the horizon! Did you see you can rent a waterfront home that just sold for $5m for “only” $8k a month? Or you could buy our old floating home if you wanted to live on the water (let’s be neighbors!).
What’s the market doing? After a slow week for new listings due to the long weekend, new listings bounced back last week and rates have now eased to nearly 7%. The number of homes for sale in Seattle is again at an all-time high for the year and up 29% over last year (graph); expect prices decline in the second half of the year as supply exceeds buyer demand.
Finally, we handed off keys to our 7th buyer at Spire last week!
Links
- Redmond home closes 37% over asking
- Retired Starbucks executive Howard Behar puts Escala condo up for sale (PSBJ)
- Tower construction set to begin at former Elephant Car Wash site in Seattle (PSBJ)
- Eastgate office-to-townhome proposal clears hurdle at Bellevue City Hall (PSBJ)
New listings bounce back
Seattle: 342 new listings last week, up 64% w-o-w
Eastside: 234 new listings last week, up 46% w-o-w
Will buyers return?
Seattle: 159 pending last week, down 35% w-o-w
Eastside: 134 pending last week, down 36% w-o-w
Eye Candy
$1.8m Denny Blaine midcentury modern by Ira E. Cummings
$1.9m Bainbridge Island redesign by John Cutler
$2.2m Mt. Baker midcentury modern
