Eastside weekly wrap-up: New listings rebound despite “summer slowdown”
We’re playing some catch-up after missing last week’s Weekly Update for the Eastside. Nonetheless, we were surprised to see new listings rebound by nearly 8% week-over-week! My guess is that sellers waiting out the summer slowdown saw other sellers continue to get multiple offers. This may have caused them to decided to pull the trigger and get their home on the market. Not a bad idea as lower inventory means that the active buyers will be competing for the same properties.
Buyer activity also picked back up after three weeks of steady decline. 234 homes were put under contract last week, which marked a 12% increase week-over-week. Take that with a grain of salt given how low the week prior was. There are definitely some serious buyers out there but they’re in fewer numbers and likely won’t fully pick back up until after Labor Day.
There were quite a few homes that caught our eye this week! Our favorite is this classic Leo S Fischer mid-century modern on Mercer Island for $2.6M. A $3.9M contemporary home designed by architect Curtis Gelotte is for sale in Medina, a $7M Juanita home with 220 feet of waterfront and a secluded shore-level guest house. Finally, if you’ve ever wanted to own a mountaintop, now’s your chance at this $14.5M estate in Issaquah – views probably don’t get better than these.
New construction was not to be left out! One88 by Bosa is now sold out – only resale opportunities are available if you’re still interested in living here. Conner Homes has been on a tear – they released the last home at Meadowleaf this week (check out the model home here) and they released Heron #3 for sale at $2.8M. And don’t miss this $2.6M NW Contemporary in Bellevue from Ken Hodge. In Issaquah, Mallard Point from Steve Burnstead released their 8th home at $1.9M this week as well.