Eastside weekly wrap-up: Happy New Year!

Happy new year all! I hope you all had a great week of holidays and are ready for 2024! As in years before, this past week was extremely slow for both buyers and sellers. Honestly, I’m impressed that we saw 20 new listings (up 25% y-o-y) in the week between Christmas and New Years since there aren’t that many buyers rushing out from their holidays to tour and offer on a home. Only 33 homes were put under contract last week, down 11% y-o-y.

Looking into 2024, buyers got some bad news out of the gate with interest rates increasing to 6.72%. I’m still expecting a slow start to the year but we should follow traditional seasonality as in previous years. We’ll see new listings really starting to increase week-over-week around March with the peak months most likely being April, May, and June. There are only 379 active listings across the entire Eastside right now so inventory can really only go up from here!

Despite where rates and inventory are, I’m optimistic about the new year! We’ll most likely see more buyers and sellers this year as long rates stay below the high points of 2023. If you’re thinking about buying or selling, let me know! Happy to get coffee or meet over that first home tour!

Thanks again to everyone who contributed to our Mary’s Place fundraiser! With your generous donations and our match, we raised just over $10,500. That’s an awesome way to start the year on an incredibly generous high note.