Eastside weekly wrap-up: new listings hold close to but below 2019
As we continue to track the Eastside market, readers should know that we’re fully in the COVID free-fall from 2020 right now. As such, most of our comparisons for the next several weeks will be to 2019 numbers, our most recent “normal year”.
Last week, 249 new listings (-4.9% week-over-week) hit the market on the Eastside. This was close to but just slightly below 2019 which had 271 new listings in the same week. I think a lot of folks out there will say the market is still bad and things don’t look good – they’re not 100% wrong. To me, if we can at least hold close to the 2019 numbers then we’ll start to see the fierce competition soften just a touch for buyers.
Surprisingly, pending home sales also dipped last week (-7.9%). I don’t know if it’s because the inventory shortage is wearing out buyers who started their search early this year or if everyone is holding their breath waiting for the 2019-esque inventory climb in April/May/June.
What I do know is that 22 of the 221 new listings went under contract the same week they were listed, including this Redmond estate that caught our eye and only spent three days on the market. Sellers, no matter your price point, there are plenty of buyers out there for your property and it will sell fast!
As this year’s market continues to get crazier and crazier, join us for our Zoom home buying class on April 6th at 4 PM to learn how to buy right now.
*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