Eastside weekly wrap-up: listings rebound as buyers hold steady
Last week the sellers were no where to be found but this week they came back a bit stronger. We saw 164 new listings on the Eastside which has been the second most active week for sellers this year. Normally we’d see listings increase every week until May but this year we’re seeing some weekly back and forth between hesitancy and confidence. Our advice remains consistent – if you prep and price your home well, you’ll see good buyer activity given how low inventory is.
For buyers, they had slightly increased activity (but it was essentially flat) with 136 homes getting under contract. It’s the fourth week in a row of small but steady increase in pending sales which is a good sign. Buyers are certainly very price sensitive due to rates but they’re also keenly watching new listings to see what fits their criteria. Buyers, be patient and don’t forget to check (or re-check) listings that have been on the market for more than a week or two if you’re hoping to avoid competition!
For homes we liked this week, the standout is this $18M new construction in Medina. We love all the windows in this hidden Mercer Island house among the trees. Also on Mercer Island, if you’re looking for waterfront and west-facing views this might be the home for you. Or, try some west-facing views in the East of Market neighborhood in Kirkland if you don’t need to be directly on the water. And even though it’s not the Eastside, our favorite was this cool split-level in Federal Way with sweeping views of the sound.
The big new construction update is that Mari Bellevue has released their floor plans! We’re still waiting on pricing which should be coming soon but we expect it to be similar to Avenue Residences. We expect sales to start in May and the building to complete in 2024.