🏠 Seattle has its busiest week of the year for new listings

Great news for buyers - rates are at their lowest level since April 2023, last week was the busiest week of the year for new listings in Seattle and the median home price declined in August from July.

Let’s dig in.

Last week was the busiest week of the year for new listings in Seattle (and pretty busy on the Eastside) due to sellers hitting the brakes on listing in August, opting to list after Labor Day instead. Expect this coming week to be busy too, some years it is even busier than the week after Labor Day. But after this week, we’ll see fewer new listings as the weather turns and holidays approach with sellers opting to sell in 2025 instead.

Meanwhile, the numbers for August came out.

In Seattle, the median price of a single-family home (and townhome) dropped $37,000 from July to $909,000 in August, this is up 2.7% from a year ago but well below the all-time high of nearly $1M in the spring of 2022 and above this year’s low of $828,000 in January.

On the Eastside, the median price of a single-family home (and townhome) dropped $93,000 from July to $1,646,000 in August, this is up 8.7% from a year ago but this is well below the all-time high of nearly $1.875M in the spring of 2022 and above this year’s low of $1,608,000 in February.

Not surprisingly, we were busy last week! We listed a lofty townhome on Interlake that went pending in two days, a large townhome in Fremont, had a buyer go pending on a floating home, and had another buyer go pending on a tiny home in Wallingford.

— Matt, Land, Maggie & Alicia
P.S. Thinking of buying? Land is holding a home-buying class Thursday. RSVP here.

LINKS

• Seattle-area housing market sleepy as buyers hope for rate relief (Seattle Times)

• Seattle council approves rate-hike plans for utilities, electricity (Seattle Times)

• Hunts Point mansion owned by McCaws lowers asking price (PSBJ)

• Seattle gears up to rein in design review process (PSBJ)

NEW LISTINGS BY WEEK
The busiest week of the year for Seattle

HOMES GOING PENDING BY WEEK
Buyers on Labor Day-induced vacation

HOT NEW LISTINGS
Eye candy

Eye candy <$1m

Last week’s eye candy winner - North Capitol Hill modern

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

1. Thinking of buying? We’ve helped hundreds of people find their dream home in the Seattle area. We’d be happy to help you too. Just hit reply or join our next home-buying class.

2. Thinking of selling? Hit reply, we can handle everything from start to finish. And if you’re hoping to sell this year, the time to get going is now!