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Home / Market Report / Eastside Weekly Wrap-up: 17% week-over-week jump in new listings

Eastside Weekly Wrap-up: 17% week-over-week jump in new listings

By March 14, 2021

Market Report

I meant to get this posted yesterday but a day full of tours backs up what we’re seeing! It definitely feels like the 2021 buying season officially got kicked off last week with a 17% week-over-week jump in new listings and a 20% week-over-week spike in homes going pending/under contract.

Every house I toured this weekend had a full all-day schedule of buyers trying to get in and see homes. This is expected as new listings are still below both the 2020 and 2019 numbers at this time – we’re still down 11% year-over-year in new listings and I expect inventory to continue to be low. It will be interesting if inventory jumps above 2019 levels or hits what we would have expected 2020 to look like pre-pandemic.

That’s tough news for buyers and good news for sellers, as homes are listing and going pending fast. Pending homes were up 32% year-over-year last week! If inventory stays constrained, expect homes to sell quickly with multiple offers.

*For the purpose of reporting on the Eastside, we’re looking at the following Zip codes: 
98004, 98005, 98006, 98007, 98008, 98027, 98029, 98033, 98034, 98039, 98040, 98053, 98056, 98059, 98074, 98075

I am a broker and contributing writer for Urban Living. I love condos & townhomes and helping people find the next space they call home!

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