Here is What You Need to Know This Week

Spring break is in the rearview mirror, and the Seattle market is officially waking up. We expect over 400 new listings to hit the market this week (or next), a significant milestone as we head into the busiest weeks of the year for new listings. So if you are hunting for a single-family home in the sub-$2M range, relief is on the horizon! Meanwhile, buyers looking for condos and townhomes will find themselves in an increasingly strong position. To top it off, interest rates have retreated from 6.6% to a more moderate 6.3%, giving buyers a little extra breathing room to make their move.

Our Frelard Listing closed for nearly 20% over asking after a competitive 9-offer scenario. Our sellers had already done the heavy lifting by remodeling the main floor, opening up the kitchen, and updating the bathroom. To bring it over the finish line, we handled:

• Full interior and exterior paint
• Fresh landscaping
• Staging
• A pre-inspection to reduce unknowns and contingencies

The Result: 44 showings, 50 groups through the open houses, and 9 offers

What else have we been busy with?

• Central District: Our listing with a $100K backyard is now pending after just 12 days on the market.
• New Listing: We just brought a beautiful townhome to market overlooking a serene greenbelt in Delridge.
• First-Time Buyer: Successfully guided a first-time buyer through the purchase of their first condo with a great view.
• Queen Anne: Negotiated 6% off the list price for a buyer looking for that perfect view.

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🏠 Listings that caught our eye last week

• Most expensive pending: Mercer Island waterfront at $11.65M (pending in 7 days!)
• Highest % over asking sale: Phinney Ridge craftsman for 27% over
• Most expensive sale: West Bellevue new build by Mirikeen homes for $6.2M
• Least expensive sale: U-District one-bedroom condo for $169K
• Most popular Seattle listing on Redfin: West Seattle Dutch Colonial for $1.15M

📰 Must-read real estate news

• Why Seattle renters struggle to find this coveted option (Seattle Times)
• Former Seahawks standout sells Sammamish waterfront property (PSBJ)

If history repeats, more listings are coming!

Seattle: 340 new listings last week, down 6.3% w-o-w
Eastside: 283 new listings last week, up 4.4% w-o-w

Buyers are plodding along

Seattle: 203 pending last week, down 6% w-o-w
Eastside: 140 pending last week, up 33.3% w-o-w

🔥 The hottest new listings

$19.5M Mercer Island modern new build by MacPherson Construction and Design

$15.85M Madison Park NW contemporary

$7.5M Bridle Trails modern the "Inside/Outside" House"

$4.5M Queen Anne contemporary

$3.7M Madrona NW contemporary by Wendell Lovett

$2.4M Leschi contemporary

$1M Eastlake floating home

Check out last week’s market update, Rates Hit a Monthly Low Ahead of The May Inventory Surge

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