Eastside weekly wrap-up: sellers take a break for the last week of summer
The last week of summer is usually the slowest of the year and this week was no exception! Only 125 listings hit the market this week as most sellers have been advised to wait until September to get on market. We’re no exception to giving that advice! We’ve stayed busy prepping several listings to hit the market in the next couple of weeks.
Buyers have equally taken the last week of summer off with only 141 homes going under contract. However, this is only a 4% drop week-over-week – expect pending sales to drop even further next week. There’s likely to be over 200 new listings for the next few weeks but mortgage rates topped 6% this week. Some buyers will consider waiting longer and some will look to buy now and refi later as predictions for next year are that we’ll have lower rates than we do now.
Only a few homes jumped out this week! A remodeled NW contemporary in Issaquah among the trees on Squak Mountain and two new builds on the west side of Lake Sammamish – a 4,500 square foot home from Crestline Homes in The Enclave development and a NW contemporary with unobstructed, east-facing views.
Enjoy a safe and relaxing long weekend and hope you all had a great summer! As you’re getting ready for the fall and deciding whether to buy before the end of the year, don’t miss our next home buying class, September 7th.