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See the Kirkland house that had 43 offers
Matt Goyer
February 05, 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.
Offer review deadlines are back! Nearly 1 in 3 new listings had offer review deadlines last week. The week before last, it was 1 in 10 in Seattle and last year in Seattle we didn’t see this many offer review deadlines until March… Things changed fast! But when an Eastside house gets 43 offers, an offer deadline makes the process a little more manageable.
Here’s what happened last week:
Eastside sellers were busy
Buyers pulled back ever so slightly
Five great new listings
Have a good bidding war story for us? Just hit reply.
— Matt Goyer, Land Cook
LINKS
What caught our eye
Mortgage rates dropped to 6.63% on Thursday but ended today at 7.04%
First resale at Avenue Residences (paid $1,899,000 asking $2,189,000)
NEW LISTINGS BY WEEK
Eastside sellers were busy
Seattle: 198 new listings last week, flat w-o-w
Eastside: 135 new listings last week, up 8.9% w-o-w
HOMES GOING PENDING BY WEEK
Buyers pull back ever so slightly
Seattle: 181 pending last week, down 1% w-o-w
Eastside: 110 pending last week, down 1.8% w-o-w
OUR TAKE
Good time for sellers, a tougher time for buyers
Buyers: offer review deadlines are back! Last week nearly 1 in 3 new listings in Seattle had offer review deadlines. Meanwhile mortgage rates are back over 7%.
Sellers: our recommendation is to list sooner rather than later to take of low competition from other sellers and seemingly many eager buyers.
