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Eastside weekly wrap-up: third slowest week for buyers

By July 11, 2022

Market Report

Good news, summer is here! Lots of great weather on the horizon and we spent a lot of the long weekend doing yard work, gardening, and power washing (a task I will highly recommend hiring someone to do next year!).

As the great weather rolls in, the market continues to shift in favor of buyers. It felt like listings flooded the market last week but those 280 listings are compared against the 168 the week before (leading up to the holiday weekend). The not great news for those sellers is that it was the third slowest week of the year with only 111 homes getting under contract.

If you want to have choices for the home you buy (shocking compared to pending sales a year ago!), it’s a good time to be a buyer even despite interest rates. If the stock market shows signs of recovering, expect a lot of the sidelined buyers to jump back in to the market to capitalize quickly.

For a monthly recap of the market, single-family home prices are falling quickly while condo prices are increasing, oddly. Our next home buying class is this Wednesday at 4 PM.

There were quite a few waterfront homes or water-view homes listed this week but the standout for me is a North End mini-estate on Mercer Island and Lake Sammamish re-model that’s all windows on the front. Don’t miss this Lake Sammamish home in Issaquah so close to the lake you’ll fall out your front door into the water!

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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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