🏠 buyers snatch up homes over spring break as rates climb

Welcome to the Urban Living Weekly, a newsletter from a boutique real estate brokerage keeping your finger on the pulse of Seattle and Eastside real estate.

The local public schools were off last week for spring break, which slowed down new listings 5% w-o-w on the Eastside and 7% w-o-w in Seattle, but buyers who stuck around were busy! Seattle buyers put 240 homes under contract, way up from the week before (see below) and this was as mortgage rates went from 7% at the beginning of last week to ending the week at 7.3% to 7.5% today (ouch!).

With spring break behind us, expect a solid month of new listings before the next slowdown, the Memorial Day long weekend. And with this nice weather, you should join us on the water; last week we listed our (old) floating home.

— Matt Goyer, Land Cook & team

P.S. We’ve donated many fun items to our local public school’s auction. Check out the silent auction, you could win a summer boat day with us! Or join us in person on Saturday to win a Kraken Zamboni ride, Olivia Rodrigo tickets, and more.

LINKS

• Victor Steinbrueck’s (old) home sells for $200k over asking

• 1 in 5 Seattle-area homes bought with cash in Q4-23

NEW LISTINGS BY WEEK
Sellers slow down on new listings for Spring Break

HOMES GOING PENDING BY WEEK
Buyers did not slow down for Spring Break!

HOT NEW LISTINGS
Eye candy

THAT’S A WRAP
Here are 2 ways we can help

1. Thinking of buying? Be patient, the home-buying season is just getting started, and you still have lots of time to find your dream home. Need help? Hit reply, we’re happy to help. Or join our next home-buying class.

2. Thinking of selling? You should list sooner rather than later to take advantage of low competition from other sellers and seemingly many eager buyers. Hit reply, we can handle everything start-to-finish.