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Eastside weekly wrap-up: new listings drop but stay higher than expected

By September 18, 2022

Market Report

In our Eastside wrap-up, new listings dropped 7% week-over-week which is expected after the post-Labor Day bump. However, staying above 200 was a slight surprise with new listings totaling 218 last week. Although that wasn’t as much of a surprise as new listings increasing this week in Seattle! The end of the year is certainly going to be an interesting one!

What was certainly not a surprise was the rebound in buyer activity. With the bump in new listings the week prior, this week’s 173 pending home sales were right on queue. There are still some buyers out there but with interest rates at 6.35%, they’re going to be more cautious despite increased negotiating power.

On the blog this week, we got the overdue August market reports out. The highlights – condo prices are down slightly but single-family home prices are down $90k and at the lowest they’ve been all year. If you’ve been thinking about buying at Avenue, it’s nearly last call for customizations.

For homes we liked, several mid-century moderns stood out! An untouched home on two parcels is ready for your vision in Woodridge and for two remodeled homes, one on the South End of Mercer Island for $2.2M and one on an Enatai corner lot for $2.5M. For those with vision and want a large lot with 110 feet of waterfront, there’s a $10M mid-century estate also available in Enatai. If Bridle Trails is the neighborhood you want to be in, check out this $2.4M contemporary with windows everywhere!

Our next home buying class is October 6th via Zoom.

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I am a broker and contributing writer for Urban Living. I love condos & townhomes and helping people find the next space they call home!

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