Eastside weekly wrap-up: new listings jump 40% week-over-week!
Astonished would be the right word to describe our surprise at seeing new listings jump 40% w-o-w! We love when we don’t need to repeat the same message every week but we definitely were not expecting new listing totals higher than the same week in 2022 and 2021. So where are they coming from?
Of the 186 new listings:
- 40% are in Bellevue, 20% are in Kirkland
- 67% are single-family homes and townhomes
- 19% are new construction homes (9 of which are new townhomes in Redmond)
Very likely these sellers and builders are hustling to get their properties on the market before winter officially sets in with rainy days and dark evenings!
For buyers, they are still out there and still hesitant. 113 homes were put under contract last week (a 3% increase w-o-w). With all the new listings, active inventory increased to 833 homes for sale on the Eastside. Interest rates also came back down to 7.66% at the end of the week. Between the two, we expect buyer activity to increase this week but I doubt that it increases 40%.
The most interesting listing this week is definitely this two-home sale in Bellevue near Cougar Mountain offer a variety of lifestyle options between the main house and the second home. As the days get darker, we can’t pass up the chance to envy these west-facing views over Lake Sammamish. And of the new construction, this Surrey Downs home from MN Custom Homes stands out (and it’s just blocks to downtown Bellevue!).