🏠 Hot weather, cool market
The market, however? Not so much. We’re starting to feel the typical summer slowdown; fewer new listings are popping up, and many sellers are asking, "Where are all the buyers?"
Looking at the chart below, last week was the fifth slowest week of the year for Seattle buyers putting homes under contract. Plus we’re definitely trailing behind last year’s pace.
Despite the market cooling off, our team has been busy! Over the last seven days, we:
- Helped an out-of-state buyer secure a great condo for their move to Seattle.
- Got four of our condo sellers under contract!
- Listed a great high-floor corner unit at the Cristalla
What does this mean for you?
This time of year, inventory drops, but savvy buyers start circling back to homes that have been sitting on the market to see if a deal can be made. If you’ve been on the fence about buying or selling, hit reply; I'm happy to chat about what we’re seeing out there.
Enjoy the break from the heat tomorrow, and hopefully from the smoke, too!
🏠 Homes We Just Listed
🏠 Homes We’re Selling
- The "Hammer House," an Olson Kundig masterpiece in Madrona
- Second-from-the-end Eastlake floating home
- A completely transformed Eastlake floating home with rooftop deck views
- A brand new Madison Valley home
- A Burnstead in Illahee w/ fresh updates, looking for its second owner ever!
- A flexible 2-bed townhouse with rooftop city views
- A rare Kingsgate tri-level, first time on the market in 25 years
- Corner unit at the Emerald
- West Seattle townhome with built-in income potential
- Magnolia sunny, corner-unit condo
- Build your dream home on Perkins Lane
- First Light studio
- An Eastlake houseboat and a Westlake houseboat
Wonder what your home is worth? Just hit reply.
🍿 Our Latest YouTube Video
🏠 Listings that caught our eye last week
- Most expensive pending: $8.795M John Buchan custom home in Clyde Hill
- Highest % over asking sale: $2.055M Vashon Island waterfront cottage, 24.5% over asking
- Most expensive sale: $7M new construction estate in Enatai, Bellevue
- Least expensive sale: $199K move-in-ready condo in Tukwila
- Most popular Seattle listing on Redfin: $1.45M mid-century rambler with panoramic Puget Sound views, now pending
📰 Must-read real estate news
- Seabrook begins home sales in new artisan village (PSBJ)
- Seattle investor says now is the time to bet on Pioneer Square (PSBJ)
- King County’s population exodus is mostly local, IRS data shows (The Seattle Times)
- Opinion: Decline in permit applications shows that MHA staggered progress (PSBJ)
The Eastside sees more new listings than Seattle!
Seattle: 324 new listings last week, down 20.59% w-o-w
Eastside: 366 new listings last week, up 11.25% w-o-w
Not many homes going pending
Seattle: 162 pending last week, up 25.58% w-o-w
Eastside: 140 pending last week, up 72.84% w-o-w
🔥 The hottest new listings
$4M Lionel Pries Mid-Century on Lake Washington
$3.899M Ralph Anderson Waterfront with Private Moorage
$2.5M 1963 Architectural Icon on Marine View Drive
$2.4M Contemporary Home on Mercer Island
$1.985M Alpine Estate with Rampart Ridge Views
Check out last week’s market update, The downtown condo market in one chart
And don’t miss our next update, sign up for our weekly newsletter.
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