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Eastside weekly wrap-up: new listings down 18% week-over-week

By July 24, 2022

Market Report

New listings on the Eastside dropped 18% week-over-week as we turn into the second half of the summer. Historically, this is not surprising as this is typically when the summer slows down. Sellers and buyers alike are focused on enjoying the remaining summer and getting their families ready for school to start again. If you’re thinking of listing your house, expect August to be slow – we’re advising most sellers to list the week after Labor Day.

Buyers put 167 homes under contract last week across the Eastside, marking relatively flat activity week-over-week. Looking at the last two years, buyers stayed busy during these next several weeks but we still had historically low rates. Some good news for buyers, rates had their biggest drop in a few weeks to 5.50% (but the Fed is supposedly putting in a rate hike this week again…).

For homes we liked this week, check out this NW contemporary remodel of a Mercer Island mid-century and don’t miss this other excellent mid-century remodel, also on Mercer Island. If you love the blend of stone and wood, check out the marble and exposed beams in this West Bellevue timber-framed home. And definitely don’t miss this mid-century in the Pikes Peak neighborhood of Bellevue!

PS: If you remember during last year’s heat dome, the Greater Seattle area is one of the least air-conditioned metros in the US. Take some pointers from one Brit on how to keep your house cool during this week’s heat wave if you don’t have air conditioning.

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I am a broker and contributing writer for Urban Living. I love condos & townhomes and helping people find the next space they call home!

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