Eastside weekly wrap-up: listings hold steady after big drop

We missed our update last week but the unsurprising news is that new listings dropped 26% but this week, new listings held relatively steady. 117 sellers put their homes on the market this and I’m sure they will not be disappointed. Only 121 homes hit the market the week prior but buyers put 148 homes under contract this week!

The competition out there is fierce, and speed and strong offers are winning the day. More than 25% of homes that hit the market this week are already under contract, spending three days or less on market. Last week, we missed out on a Woodinville home despite putting in an offer 25% over list with no contingencies. This week, a Kirkland home came on the market on Thursday morning and by the evening had three offers, one of which was 30% over asking.

Several homes caught our eye this week! A $5.2M remodeled mid-century in Clyde Hill is pending after coming on the market on Monday. Check out the views and skylights in this $3.4M custom home in Kirkland overlooking Lake Washington, and for waterfront living a $5.2M Newport Shores home with canal moorage stands out with true walls of windows.

For new construction, our friends over at Mira Flats let me know that their last two developer units are under contract, making them sold out!

For next week, expect another big drop in new listings as few sellers will list their homes during the holiday weekend. If you do, ask your agent to block Thursday off so it’s not available for tours to be scheduled if you’re hosting Thanksgiving in the home you’re selling!

Have a safe and happy holiday weekend!