Eastside weekly wrap-up: sellers continue to test the market while buyers are scarce
More surprising than the lack of buyers this week was that new listings were flat week-over-week! 157 new listings hit the Eastside last week but I would have expected a drop off as most listing agents will be advising their sellers to wait until the spring with high interest rates and lack of buyers. A quick look at how other sellers are doing show 1,122 active listings on the Eastside and 45% have had a price reduction.
For buyers, they’re at their scarcest since the start of the year. 89 homes went under contract last week which is half the number of homes that went under contract in the same week the last three years. We’re opening the week at 7.29% which continues the tough news for buyers still actively looking.
The top home this week was this $2M Burr Richards mid-century in the Killarney area of Bellevue. Also check out this $4.4M one-level Tuscan inspired home in Kirkland and this $2.3M NW forest home in Meydenbauer. It’s hard to beat these views from this home in Horizon View!