A home bordering the Arboretum just sold for 29% over asking after receiving 8 offers, 4 of which were above $2M!

So just how common are bidding wars in Seattle this fall? I dug into nearly 400 closed sales of single-family homes (and townhomes) across Seattle that went pending since the beginning of September.

The takeaway? Most homes aren’t seeing bidding wars

• 41% sold below list price
• 28% sold right at list price
• 30% sold above list price (I expected this number to be much lower!)

Which sellers are getting lucky?

The median price for those 30% was $1.1M, and they were in West Seattle, Ballard, Green Lake, Phinney Ridge, Queen Anne, and Wallingford.

For the buyers driving a hard bargain, just how much are they negotiating?

• 75% negotiated less than 5% off the last list price
• 17% negotiated 5% to 10% off
• 8% negotiated more than 10% off

What about condos? Out of ~100 condo sales in the same period:

• 6% sold over asking (none were downtown)
• 30% sold at asking
• 64% sold below asking

(Single-family homes and townhomes are currently outselling condos nearly 4 to 1!)

How about the Eastside?

I didn’t dig into the Eastside data, but I did hear this week that Park Row is nearing $150M in sales. Four west-facing penthouses (priced from $10.3M to $12.6M) are now under contract, and the southwest three-bedroom stack is completely sold out.

Curious about floating home life?

The Seattle Times recently ran a great in-depth feature: “Storied, small and sometimes sinking, Seattle’s floating homes evolve.” It’s a fantastic read if you’ve ever wondered what it’s like living on Lake Union, and they even feature our floating home! :)

🏠 Homes we’re selling

• An end-of-dock floating home with front-row views down the Montlake Cut
• Own your own deep-water dock slip on Lake Union
• Penthouse living atop Bellevue Towers, with views for days
• A blank canvas in West Seattle
• A spacious Belltown condo with Puget Sound and Space Needle views
• A completely transformed Eastlake floating home with rooftop deck views
• A flexible 2-bed townhouse with rooftop city views
• Build your dream home on Perkins Lane
• A Westlake houseboat

Wonder what your home is worth? Just hit reply.

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🏠 What caught our eye last week

• Most expensive pending: $7.5M Mercer Island Gold Coast Waterfront Estate
• Highest % over asking sale: $2.2M Montlake with Modern Addition (and pool)
• Most expensive sale: $7.5M Kirkland Waterfront Estate
• Least expensive sale: $255K Top-Floor East Bellevue Condo
• Most popular Seattle listing on Redfin: $2.2M Updated North Capitol Hill Craftsman Near Volunteer Park

📰 Must-read real estate news

• Miami leads America’s fastest-growing major cities, with 5.1% population growth from 2022 to 2024 (Visual Capitalist on X)
• The Fierce Battle to Control How Americans Buy and Sell Their Homes (The Wall Street Journal)
• Rising Mortgage Rates Risk Plunging Housing Further Into Crisis (The New York Times)
• Only homebuilder on governor's economic council warns of supply crisis (PSBJ)
• Columbia Bank CEO Clint Stein sells Auburn home (PSBJ)

📉 Deja vu? New listings just mirrored 2025

Seattle: 259 new listings last week, down ~19% w-o-w
Eastside: 176 new listings last week, down 20% w-o-w

📈 Nice to see: buyers step up as rates ease

Seattle: 164 pending last week, up ~12% w-o-w
Eastside: 105 pending last week, up 5% w-o-w

🔥 The hottest new listings

$3.895M Architect-Designed Madison Park Home with Five Garden Rooms

$3.1M Kirkland Retreat with Lap Pool, Outdoor Kitchen and ADU (First Look)

$1.749M Mithun-Designed Contemporary Home with Lake Union and Space Needle Views

Check out last week’s market update Buying below 2015 prices in Seattle right now?

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