Eastside weekly wrap-up: pending sales drop for the third week in a row

Buyers put 172 homes under contract last week, marking the third week in a row that pending sales have declined on the Eastside. The record breaking price increases coupled with higher mortgage rates have certainly caused many buyers to put a hold on their plans to buy at the moment.

The pending sales wouldn’t be as much of a shock if new listings hadn’t also increased for the third week in a row. 245 homes hit the market this week and some sellers are jumping at early offers. A Beaux Arts mid-century went pending after just one day on the market and a townhome in Redmond also took an early offer before any weekend touring happened. Despite these early offers, this increase in listings will create opportunity for buyers as some homes will start going past their review dates – stay patient and look for the right place for you!

Stand out homes this week were the Beaux Arts mid-century, $21.5M Wendell Lovett designed modern in Medina, and a $3.7M contemporary in Surrey Downs.

Also, the concrete strike is over so hopefully we’ll see projects like Avenue get back to work as well as updates on Mari Bellevue!