The losses from these floods, especially so close to the holidays, are truly heartbreaking. If you’re considering donating to relief efforts, feel free to forward your receipt, and we’ll make a matching donation. Our own home flooded during the 1997 Red River Flood, so I know firsthand that those affected are facing a long and challenging recovery.

As for how the rest of the year is likely to unfold, this week will probably be the last week we see any meaningful number of new listings. After that, most sellers will wait until the New Year since buyers will be distracted by the holidays.

That said, buyers won’t disappear entirely. We still expect another 150 to 200 homes to go under contract before year-end, driven by motivated buyers, year-end deadlines, and a smaller but serious pool of shoppers.

Noteworthy deals last week

• Ballard home gets 8 offers!?
• Most expensive pending: Enatai new construction at $5.635M
• Highest % over asking sale: Seward Park midcentury modern for 30% over
• Most expensive sale: Evergreen Point Mediterranean for $9.7M
• Least expensive sale: Capitol Hill condo for $247K
• Most popular Seattle listing on Redfin: West Seattle Tudor for $625K (already pending!)

Links

• Seattle still ranks among top big cities for drawing new residents (Seattle Times)
• Seattle may force owner of rare open space to sell (Seattle Times)
• Development with 1.200 homes, lab building proposed for Bellevue (PSBJ)
• In Metro Seattle, Redfin often matches or exceeds Zillow on new listings (Truelist)

Expect to see fewer new listings

Seattle: 111 new listings last week, down 26.5% w-o-w
Eastside: 67 new listings last week, down 26.4% w-o-w

Buyer activity will start to really slow down

Seattle: 141 pending last week, up 29.4% w-o-w
Eastside: 70 pending last week, up 34.6% w-o-w

Eye candy

$5.7M Clyde Hill contemporary

$1.3M Magnolia NW modern

Check out last week’s market update, It isn’t too late to get a deal this year

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