See the Bellevue home that sold for 49% over asking

Author

Matt Goyer
February 27, 2024

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.

It is bonkers that this Bellevue home closed for 49% over its asking price. It is an extreme example, but consider that so far in February in King County 34% of homes sold for more than asking, 32% sold for their asking price, and 33% sold for less.

Last week was a little wonky because it was mid-winter break for many schools but with mid-winter break behind us, look for the real estate season to get started in earnest - March, April, and May are the busiest months of the year.

— Matt Goyer, Land Cook
P.S. Our next home buying class is March 5th

NEW LISTINGS BY WEEK
Seattle sellers hit pause, but not Eastsiders

Seattle: 219 new listings last week, down 6% w-o-w
Eastside: 161 new listings last week, up 14% w-o-w

HOMES GOING PENDING BY WEEK
Buyers take a breather for mid-winter break

Seattle: 174 pending last week, down 16% w-o-w
Eastside: 132 pending last week, down 1.5% w-o-w

OUR TAKE
Buyers be patient; but good time for sellers

Buyers: buyers should be patient. Lots of new listings are coming in March. No need to get caught up in a bidding war right now…

Sellers: our recommendation is to list sooner rather than later to take of low competition from other sellers and seemingly many eager buyers.