Eastside weekly wrap-up: happy New Year!
We just wanted to take one more opportunity to thank you all for reading our updates on the Eastside market. Thanks to all of you, we broke 100 subscribers in the first year of the newsletter which I’m pretty pumped about!
We also wanted one more chance to ask you to donate to our fundraiser for Mary’s Place. We’re still accepting donations and Urban Living will match every dollar donated. Mary’s Place is an organization that provides safe, inclusive shelter and services that support women, children, and families and this year, the need has been higher than ever before. If you prefer to donate directly, just forward us your receipts and we’ll make sure it gets matched!
For real estate activity, as expected, the last two weeks have been very slow. A total of 34 listings hit the Eastside over the past two weeks which is not surprising since both weekends have holidays on them. I’d expect a jump in new listings next week as the early bird sellers to try to catch the first buyers of 2023.
Buyers put 58 homes under contract the week before Christmas and 37 homes under contract last week which, while lower than the previous year (thanks interest rates!), was still higher than I expected to close out the year. Interest rates have ticked back up to around 6.5% to close out the year. More inventory will start trickling in next week so be patient but be ready to move quickly if it’s the house for you!
If one of your goals in 2023 is to buy or sell, give us a shout! We’re happy to meet for coffee and help answer questions on how to make that happen. Happy New Year!