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🏠 See how much prices are up from last March (and did you see rates today?)

Author

Matt Goyer
April 10, 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.

Big news! We’re selling our floating home on Lake Union in Eastlake. But we’re staying on the dock, so if you buy it, we’ll be neighbors! Curious about lake life or just want to chat about real estate? I’ll be there Thursday 11-1, Saturday 10-12, and Sunday 10-12, come say hi.

Last week the numbers for March came out - for Seattle single-family homes the median price is up 8% year-over-year to $917,950 but is surprisingly down $12k from February. The Seattle Times summed up the market with the headline, Spring housing market brings more picks for buyers, yet little relief. While that was written a week ago, buyers are even more frustrated today as mortgage rates jumped from 7.03% yesterday to 7.29% today due to inflation. Buyers could get relief if we built more housing so it is so surprising that people don’t believe more supply can help, Most WA voters think building more housing won’t cool prices, poll shows.

— Matt Goyer, Land Cook & team
P.S. Our next home-buying class is May 7

NEW LISTINGS BY WEEK
New listings jumped a lot last week!
(I was wrong with my prediction of a slowdown!)

Seattle: 323 new listings last week, up 35.15% w-o-w
Eastside: 195 new listings last week, up 4.8% w-o-w

HOMES GOING PENDING BY WEEK
Buyers moving more slowly b/c of spring break

Seattle: 214 pending last week, up 1.4% w-o-w
Eastside: 160 pending last week, down 9.6% w-o-w

OUR TAKE
Buyers, be patient; sellers, let’s go!

Buyers: buyers should be patient, the home-buying season is still just getting started, and you still have lots of time to find your dream home.

Sellers: you should list sooner rather than later to take advantage of low competition from other sellers and seemingly many eager buyers.