Some weeks, this newsletter practically writes itself. This is not one of those weeks!

We’re in that weird, late April lull where the data isn't doing what it’s "supposed" to do. Last week, I expected it to be a big week for new listings, thinking we’d finally see 400 new listings in Seattle. Instead, it was the busiest week of the year, but just barely. It feels like the market is holding its breath. Is the big spring inventory "explosion" delayed, or was it pulled forward?

To top it off, rates went the wrong way today, jumping to 6.5%. We just can’t catch a break there.

But honestly, the more people I talk to, the more I think rates aren't the real problem anymore. It’s job uncertainty. The "AI revolution" isn't a headline anymore; it’s a daily conversation. Unless you’re one of the lucky few over at OpenAI or Anthropic, or have a true hands-on job, nobody feels truly "safe" in their role right now, and that makes buying a home feel a lot riskier than even just last year.

🏠 Listings that caught our eye last week

• First Light unit headed to auction: Bidding starts at $500K (seller paid $740K)
• Most expensive pending: Bridle Trails contemporary at $6M
• Highest % over asking sale: West Seattle view home for 36% over
• Most expensive sale: Kirkland view home sold off-market for $12.75M (looks like an amazing house!)
• Least expensive sale: Greenwood condo for $200K
• Most popular Seattle listing on Redfin: $850K Seward Park brick Tudor (already pending)

📰 Must-read real estate news

• Why homebuyers flock to Issaquah despite high prices (Seattle Times)
• Mansion planned for Bellevue lot once owned by Russell Wilson (PSBJ)
• Seattle zoning proposal could add thousands of homes in these neighborhoods (PSBJ)
• Seattle city council would put more homes where they’re needed Op-ed (Seattle Times)

Seattle’s Busiest New Listing Week (By a Hair)

Seattle: 373 new listings last week, up 9.7% w-o-w
Eastside: 322 new listings last week, up 13.8% w-o-w

Buyer demand remains lukewarm

Seattle: 208 pending last week, up 2.5% w-o-w
Eastside: 135 pending last week, down 3.6% w-o-w

🔥 The hottest new listings

$6.3M Houghton modern by Mirikeen homes

$5.2M Mercer Island Gold Coast modern

$3.9M Washington Park midcentury modern

$2M Holmes Point midcentury modern

$1.05 Capitol Hill modern by PB Elemental

Check out last week’s market update, Will Seattle see 400+ new listings this week?

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