Eastside weekly wrap-up: new listings pull back 16%

Welcome back to the Eastside weekly wrap-up! I’m posting a little late as I took the weekend off to visit family and relax in the sun. It looks like both sellers and buyers did the same! After multiple weeks of strong listing performance, I am not surprised to see new listings pull back 16% week-over-week. Expect this to be the general theme over the next several weeks as we move into the second half of summer.

For buyers, I wouldn’t be surprised if days on market creeped up by a day or two in our monthly market report as more homes have come on the market since the 4th of July than have been put under contract. This is a sign that buyers are competing for the same handful of hot homes and homes that are either not priced right or not in the best shape are sitting for a few more days on the market. Patience will be the winning path for both buyers and sellers as most sellers will hold off until after labor day to list.

For homes we liked this week, a modern farmhouse in Clyde Hill with an oversized deck (already pending), this contemporary new construction in Meydenbauer listed at $4.3M, and this west-facing lake front home in Renton spent just one day on the market before accepting an offer!