Eastside weekly wrap-up: last surge of listings comes right on cue
New listings jumped back up above 200 since July and right on cue with previous years. The week after Labor Day is usually the biggest week of new listings in the the tail end of the year. There are now 1,110 active listings on the Eastside and 154 of them had price reductions last week. If you’re planning to sell in 2022, you’ll want to make sure you’re pricing in the current market and not the first half of the year.
As for buyers, predictably, this week was very slow for pending home sales. Only 130 homes found new owners last week which is normal. We’ll wait and see if 6% interest rates cause even more buyers to put their search on hold. If higher rates don’t constrain your budget too much, we encourage people to take advantage of the negotiating power buyers have right now. Predictions for 2023 are that rates will be lower than they are now so refinancing should be in the picture.
For homes that caught our eye this week, the standout was this $17M Kirkland home designed by Rick Chesmore right on the water. Don’t miss this Clyde Hill contemporary for $5.5M and this new construction in Houghton went pending in two days.
And if you love angles and vaulted ceilings, this Mercer Island contemporary has great views to go with the architecture. This woodsy Issaquah mid-century modern is a secluded oasis in Mirrormont. Finally, we love the 2013 remodel of this East Bellevue mid-century.