Eastside weekly wrap-up: listings stay high as buyers come back in force
We love when the market moves right in line with our weekly predictions. As expected, buyers came back to their home searches this past week and put 171 homes under contract. This was as predicted given the big bump in listings following the holiday weekend and pending sales usually trails a week behind new listings. For sellers, they stayed busy too! 217 new listings hit the market, making it the second busiest week of the year as sellers push to get their homes on the market and hopefully under contract before July!
Despite the exciting week of activity, it’s still a tough market for both buyers and sellers. For buyers, even though home prices are down from last year…they’re still up 17% YTD with the median sales price for single-family homes clocking in at $1.55M on the Eastside. For sellers, the higher prices would be good for them except that mortgage rates are hovering just under 7% which is holding many buyers back.
The home to stand out this week? This 2023 new build in Kirkland with lots of windows and boasting the longest dock in the city at 175 feet. I think you’re going to need a bigger boat! For other unique listings, this lot on Mercer Island has construction underway on an 8,000 square foot house but is including the collector’s garage of 14 cars. If you’re looking for something more idyllic, don’t skip this home on Pine Lake with southern exposure that’s move-in ready for summer!