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🏠 the market is slowing - but here's the home with 28 offers last week

A few bidding wars aside, buyers haven't come back from the Memorial Day weekend.

June 17, 2024

We’re surprised buyer activity the last two weeks has been roughly equal to the week after the Memorial Day slowdown. Normally we see buyer interest mostly rebound, then taper off as we enter July and August. But this year, buyer interest hasn’t rebounded at all from the Memorial Day slowdown (see the graph below - homes going pending by week). So we continue to believe the market will become increasingly challenging for sellers but there will be more opportunities for buyers; except for buyers looking for a single-family home under $1m Here are a few sub $1m anecdotes from last week - our new Whittier Heights listing at $899k has been busy, this $700k QA home had 7 offers and this $625k Greenwood craftsman had 28 offers!

— Matt Goyer, Land Cook, Maggie & Nancy
P.S. We’d love your suggestions on improving this newsletter just hit reply.

NEW LISTINGS BY WEEK
Sellers are still busy with new listings

Seattle: 362 new listings last week, up 4.3% w-o-w
Eastside: 230 new listings last week, down 7.6% w-o-w

HOMES GOING PENDING BY WEEK
Where are the buyers?

Seattle: 165 pending last week, flat w-o-w
Eastside: 157 pending last week, up 17.2% w-o-w

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

  1. Thinking of buying? Now is the time, this is peak home-buying season. Hit reply, we’re happy to help. Or join our next home-buying class.

  2. Thinking of selling? Hit reply, we can handle everything from start to finish but September is likely a better time to sell than over summer.