See the Kirkland house that had 43 offers
Offer review deadlines are back! Nearly 1 in 3 new listings had offer review deadlines last week. The week before last, it was 1 in 10 in Seattle and last year in Seattle we didn’t see this many offer review deadlines until March… Things changed fast! But when an Eastside house gets 43 offers, an offer deadline makes the process a little more manageable.
Here’s what happened last week:
- Eastside sellers were busy
- Buyers pulled back ever so slightly
- Five great new listings
LINKS
What caught our eye
- Mortgage rates dropped to 6.63% on Thursday but ended today at 7.04%
- First resale at Avenue Residences (paid $1,899,000 asking $2,189,000)
- Queen Anne house gets 4 offers in 48 hours
NEW LISTINGS BY WEEK
Eastside sellers were busy
Seattle: 198 new listings last week, flat w-o-w
Eastside: 135 new listings last week, up 8.9% w-o-w
HOMES GOING PENDING BY WEEK
Buyers pull back ever so slightly
Seattle: 181 pending last week, down 1% w-o-w
Eastside: 110 pending last week, down 1.8% w-o-w
OUR TAKE
Good time for sellers, a tougher time for buyers
Buyers: offer review deadlines are back! Last week nearly 1 in 3 new listings in Seattle had offer review deadlines. Meanwhile mortgage rates are back over 7%.
Sellers: our recommendation is to list sooner rather than later to take of low competition from other sellers and seemingly many eager buyers.
HOT NEW LISTINGS
A feast for the eyes!
$5.9m Denny Blaine modern (relisted)
$7.57m Ralph Anderson Issaquah estate
$6.9m new home in Washington Park
