Eastside weekly wrap-up: new listings pull back 17%

A 17% week-over-week drop in new listings is not the news we’d like to bring you in our Eastside wrap-up today. Especially when new listings remained very strong in Seattle last week. Hopefully we get one more week of strong listing activity but if we’re following the 2019 market, inventory should continue dropping through the end of the year. Sellers, likely this week is the last week to get your home on the market for the fall season – buyers were still very active, putting 227 homes under contract. Buyers are still looking for homes this fall but without good selection, I expect many of them will soon put their search on hold until the spring.

There were just a few homes we liked this week – a remodeled NW contemporary on Mercer Island and a unique custom cedar home in Kirkland. For waterfront property, two parcels (with a 2,400 square foot home thrown in) are up for sale in Medina for $11M and 100 feet of lakefront in Meydenbauer is on the market for the first time in 60 years at $10M.

For new construction news, Jade Residences in Kirkland is 75% pre-sold and Avenue Bellevue is around 40% sold in both towers and running out of corner units!