Eastside weekly wrap-up: new listings at pre-pandemic levels for second week
Another big week of new listings on the Eastside! 298 listings were put on the market, the second week in a row at pre-pandemic levels. Even though the same week in 2019 boasted 307 new listings, this marks a 13% increase week-over-week. This will be welcome news to all the buyers who lost out or sat out the March frenzy.
The welcome news for sellers is that homes going under contract bounced back up 12% this week (after an 11% drop last week). There’s still buyer demand out there; they just took a small pause for spring break! Buyers can also take heart in this rebound as it’s also the second week in a row we saw more new listings than homes under contract. The market is still crazy but 20% more new listings than homes under contract is great to see.
If you’re looking for waterfront homes on the Eastside, this was your week. We saw eight new listings last week that were waterfront, three of which were on Lake Sammamish. My favorite? This mid-century modern nestled into the trees on the west side of the lake! If you don’t need to be on the waterfront, this mid-century modern on Mercer Island has a unique tongue-and-groove pyramid ceiling capped with a skylight (it also won AIA Seattle Times Home of the Month in January, 1966!). For new construction, check out our April update – sales at Jade and Avenue are picking up and Mira Flats is still offering reduced prices on their last 12 units.
I’m expecting more homes to go under contract next week as increased listings and a dip in mortgage rates puts home buying front of mind for buyers coming back from spring break. If you’ve got questions about how to be successful in this crazy market, give me a call!
*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