WA: Seattle Real Estate Market Heating Up

Wednesday afternoon, Redfin CEO Glenn Kelman posted an interesting story on Redfin’s Seattle blog: “Everything Changed in the Past Six Weeks”

Bryon Ziegler, part of Redfin’s crack Capitol Hill team, just wandered into my office to talk about bidding wars. The last ten straight offers he has handled all turned into bidding wars. This isn’t just the usual $300,000 bank-owned property being auction-priced for a quick sale.

Except for maybe Belltown condos–which are like a vast, derelict Atlantis, all underwater–every decent listing seems to be getting multiple offers. Bryon just put in a multi-million dollar all-cash offer on a home that had been on the market for 300+ days, only to have two other offers turn up at the same time.

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