Seattle weekly wrap-up: rates nearly at last fall’s high :(
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It is HOT!
If we weren’t so deep into our usual summer slowdown for Seattle real estate, we may be paying more attention to rates hitting 7.26% bringing us back to the highs we were seeing in November (but thankfully we’re still below the 7.37% we saw in October.) If rates are still this high after Labor Day it might make for a chilly fall real estate season! But that’s still three weeks away…
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As for the weekly data – sellers brought on 223 new listings, down 6.3% w-o-w, making this a very slow summer for new listings as compared to years past. Meanwhile, buyers put 179 homes under contract, down 2.7% w-o-w, making this summer feel a lot like August 2018 but much slower than the pandemic years.
![](https://www.urbnlivn.com/wp-content/uploads/2023/08/Seattle_-number-of-homes-going-pending-per-week-67.png)
While the market has been slow, we’ve been busy! We had four clients close last week, helped two buyers get under contract (summer can be a good time for a deal!), and are prepping some great new listings for after Labor Day.
Our fave listing last week is this mid-century in Fauntleroy, wow! But if you want to escape to the islands, don’t miss this Orcas Island waterfront home for $4.65m, “elegant yet islandy”.