Eastside weekly wrap-up: 7.65% mortgage rates!!

Normally when pending sales jump 22% week-over-week, we’d expect active inventory to shrink. Unfortunately, that 22% jump only equated to 134 buyers getting homes under contract. Active inventory stayed at the high for the year at 858 homes for sale around the Eastside. Sellers put 173 homes on the market last week which is what is propping up the inventory levels.

Buyers are stuck between actually having some choices and high interest rates – 7.51% to start the week and now at 7.65%! As mentioned last week though, the best rates in town are builders! New home builders around King County are being very aggressive on rates to sell units – we’re seeing this mostly in single-family houses and townhomes.

Just a couple of homes this week caught our eye – a 2021 new build on a double lot in the East of Market neighborhood of Kirkland and a 2017 home tucked into the tall trees of Enatai.

With the advent of rain and colder weather, it’s a good idea to check on your gutters and make sure they’re not clog or need to be cleaned. If you need a referral to a quality gutter cleaning service, let us know!