Eastside weekly wrap-up: buyers remain scarce as inventory climbs

Since the holiday weekend, new listings have increased both weeks with 316 homes coming on the market this past week. This was the fourth best week for inventory and I expect new listings to begin tapering from this point forward.

However, the number we’re really watching weekly is the number of homes going under contract. Just 156 homes went pending last week which leaves a lot of inventory on the Eastside. Buyers are scarce! The market definitely cooled off in May and will continue to cool through the summer. If you’re serious about buying a home, there’s a good chance you’ll have very little competition right now.

For stand-out homes this week, this East of Market mid-century in Kirkland is a favorite! I also like this custom built NW contemporary near the Microsoft campus in Redmond. Also in Redmond and back on the market with a big price drop is this Modern Zen estate that we just love.

For waterfront, don’t miss this Beaver Lake retreat or this Cape Cod-inspired home on Lake Sammamish!

Thinking of buying this year or next? Join us at our next home buying class on June 23rd via Zoom.