Seattle weekly wrap-up: just 200 new listings
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The summer slowdown is hitting new listings hard! Just 200 new listings hit the market last week and this week will be even slower. Meanwhile, buyers have maintained a remarkably steady level of putting homes under contract as we saw another 189 homes go pending. I would have guessed rates hitting 7.5% would have slowed buyers more than it has.
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Even with the summer slowdown, we’ve been busy – we helped a neighbor quietly sell their floating home for nearly $5m off-market, marked our $2m Magnolia midcentury pending, and are now prepping seven listings that will hit the market after Labor Day. We also got a sneak peek inside First Light (70% pending, completion late 2024, views better than expected, and finishes looking good!) and heard Mari Bellevue is now offering a limited-time $10k or $20k credit to incent new buyers (25% pending, $579k starting price).
While we are in the middle of the summer slowdown, there were some good listings this week – don’t miss Yoda’s House on Camano Island! Just $295k for a “whimsical rustic “play structure” on a 1-acre lot backing up to Camano Island State Park”. Would make a great Airbnb!? Back in Seattle, check out this $1.2m midcentury in View Ridge, or this $1.4m Fauntleroy midcentury. And don’t miss this Eric Cobb-designed home in Madrona for $2.1m.
Bonus interesting listings! In past updates, we forgot to include the “Lodge Mahal” a $6.9m vacation home, and this moody speakeasy-styled home; check em out!
What we’re reading – The pandemic changed who moves to the Seattle area. Here’s how. and Seattle-area power bills rising at fastest rate in a decade.