Eastside weekly wrap-up
The second week of 2022 suggests that sellers are back from the holidays and have figured out that there are a lot of buyers out there! 123 listings hit the Eastside market last week, a 98% increase over the week prior. Buyers put 75 homes under contract this week and if you’re touring, remember that it’s very early in the season. Most sellers won’t put their homes on the market until March so competition will and has been super fierce for the homes listed early.
To dive deeper into the competition, a home in Woodinville listed at $1.3M got multiple early offers at or above $1.6M. Down in Kent and Renton, new construction is wild. A Lennar home listed at $920k received multiple offers above list and the winning offer was near $1.2M! They’ve since raised prices on the similar homes to $1.35M.
We were able to find a client another new construction home just over the town line in Covington in the low $800k’s. If you’re looking for new construction, let us know and we can help you find all the projects that meet your criteria!
For homes we liked this week, a $2M PNW Contemporary on Mercer Island (already pending), the remodel on this $2.4M Enatai mid-century dazzles, and it’s hard to pass up the vaulted ceilings and the grounds of this retreat in North Bend.
If a remodel or construction project is in your plans for 2022, be sure to check your city’s permit process and guidelines early! Bellevue is offering virtual permit center appointments to get questions answered and Redmond is requiring appointments for anyone coming into the office.