Eastside weekly wrap-up: winning buyers are moving fast
An $18.5M home goes pending in 10 hours? YUP. Winning buyers are the folks watching the little inventory we have patiently and then moving quickly when the right home pops on the market.
Let’s jump in to the weekly wrap-up!
New listings up 7% week-over-week
New listings climbed 7% this week over the previous for a total of 118 new listings around the Eastside. That’s always key to remember sometimes – the Eastside covers a large area, making those listings even fewer by city. For more local info, Bellevue had 36 new listings, Kirkland had 21, and Redmond had 14. There are 581 total active listings on the Eastside so even though new listings increased week-over-week, we still have very little inventory which will work in favor of sellers. The sooner you get your home on the market, the easier time it will have to stand-out!
Homes under contract up 24% week-over-week
We’re still seeing very solid buyer demand to start the year. 111 homes went under contract this week while 110 listings hit the market the week before. When new listings equals pending sales each week, that means buyers are waiting for inventory. Which is proven as we’re seeing homes going under contract quickly and getting multiple offers. Continuing to be patient will pay off as we’re still a few weeks away from the typical listing season.
Our favorite homes of the week
In addition to the Medina home above, we also really liked this northwest facing Eastgate custom build. Also in Medina, a contemporary home designed for sunset views.
For those looking for new construction, we’re now tracking a mid-sized building of boutique one-bedrooms at GIS Plaza that’s slated to complete this year and a ten unit building slated to complete in 2024 at Eight One Hundred Bellevue. Let me know if you want to be on the list for updates!
Trying to figure out the home buying process and don’t know where to start? Sign up for one of our home buying classes! Our first one in 2023 is on February 7th. Or, just shoot me an email and we can meet for coffee: [email protected]