Eastside weekly wrap-up: happy new year!
Welcome to 2022! Don’t be too alarmed by the nine new listings on the Eastside this week. We had the perfect storm of the last week of 2021 falling from Christmas on Saturday and New Year’s Eve on Friday. Most sellers are out enjoying the holidays and vacation and will be looking to begin their selling process in the next few weeks.
Buyers stayed busy and put 21 homes under contract, nearly all of the homes listed the week before. If you didn’t get your home in 2021, stay patient. Competition should ease off somewhat as more inventory comes on the market as we move into 2022.
Inflation may also play a part in this spring’s competition – a recent Redfin survey shows that more homebuyers will delay their search due to the record high inflation but a near equal number will accelerate their search. Keep in mind, this is a national survey so we’ll see how that plays out in the King County market over the first half of the year! Whether you’re delaying or accelerating, we expect most home searches to take 3-6 months depending on what you’re after.
We hope the year gets off to a great start for you – reach out if you want to chat about buying or selling a home in 2022!