Eastside weekly wrap-up: buyers get back at it and rates get a big drop
Due to the jump in new listings the week prior, buyers got back out there and put 126 homes under contract on the Eastside last week, a 52% jump over the week prior. The big news over the weekend though was the sudden collapse of Silicon Valley Bank and the Fed rescuing the depositors with guarantees late on Sunday. The turmoil has caused rates to drop from 7% a week ago to 6.57% today!
Sellers, this would make it a great week to get your home on the market. Last week, sellers put 142 homes on the market, a 10% drop from the week before and 36% below this week last year. Everyone who didn’t buy last week or lost out in a multiple offer situation will likely have their eyes glued to new listing alerts. If you want your home to stand out, we urge you to get it on the market sooner rather than later.
Only a couple of homes jumped out to us this week…a $2M NW Contemporary in Holmes Point with lake views that went pending in two days and a $1.7M remodeled mid-century modern in Bellevue.
Don’t miss our next home buying class on April 6th!