Eastside weekly wrap-up: new listings lagging behind 2021
If you’re a seller, it’s been a great start of the year for you. Eastside new listings are up 18% week-over-week but still lagging behind this time in 2021 by 4%. That lack of supply continues to create bidding wars and significant price escalations. Higher mortgage rates are adding to buyers’ urgency to find homes quickly – if you can, be patient! Most of the inventory historically hits in March, April, and May.
Buyers put 128 homes under contract this week which is more homes than came on the market the week before. As the urgency continues, buyers will also go after homes that have sat on the market past their review date and aren’t in peak condition.
For homes we liked this week, this $2.3M mid-century on Mercer Island dazzles with it’s vaulted ceilings and walls of windows. If you’re looking for new construction, a Kirkland contemporary is available for pre-sale. Also, in Kirkland, this $3.5M hillside home boasts nothing but views. And in Clyde Hill, every aspect of this $5.5M NW contemporary has been remodeled and updated.
If you’re just getting started with your home search or trying to get a grasp on the market, we’re hosting a free Zoom home buying class on February 9th at 4 PM. If you can’t make it or want to chat one-on-one, drop me an email at [email protected]