Eastside weekly wrap-up: another big week for new listings
I was hopeful for another big week of new listings on the Eastside and we were not disappointed. New listings ticked up slightly over the previous week to 311. This marks a 42% increase over 2019 (note: this week in 2019, we had hit the peak and were trending down in new listings). Total new listings in 2021 are still down 8% over 2019. We’d love to see another big week going into Memorial Day but that’s unlikely due to the long weekend.
We also tied the year’s high for homes under contract at 269 in a week. Pending home sales jumping 15% week-over-week should be a good sign for sellers along with median days on market still at five days. We should see most of the homes listed this week under contract by Wednesday next week. On the other hand, we’re about to turn the corner into the summer season when the market typically slows down. Buyers will turn away from real estate to enjoy summer without the stress of moving so expect less competition than we’ve seen in the last couple of months.
For homes that caught our eye this week, this modern farmhouse in Issaquah took the cake! I also liked this Mercer Island contemporary designed by Tom Kundig and this one level rambler in Clyde Hill that was put under contract this week. Another Mercer Island contemporary, built by Gallagher Construction has peek-a-boo views of the lake. And for those looking for mountain vibes, this would be the Northwest lodge to check out in Redmond!