Eastside weekly wrap-up: more signs of life despite higher rates

Mortgage rates ended the week close to 7% last week but despite that we saw more activity from both buyers and sellers. New listings increased 32% week-over-week with 115 new listings. This is up 4% from last year as sellers try to capitalize on pent up buyer demand. If your home is in good shape, staged, and prepped well, it should get a lot of views right now.

Buyers responded to more listings with 46% more pending sales this week (101). Good news for buyers is that rates are starting the week down a little bit to 6.87%. Expect more pending sales in weeks of more listings as the buyers are watching all of the listings closely. Buyers, be patient – most listings won’t hit the market for a few more months.

If you’ve been thinking about Bellevue condos, we just updated our review of the most popular condo buildings based on the most sales in 2023. We weren’t surprised that Avenue Residences was #1 with all the buzz around the new construction towers. Bellevue Towers, Washington Square and Mira Flats rounded out the list.

If you want to own a little piece of history, the West Bellevue home that Amazon was founded in is up for sale at $2.28M. If history doesn’t interest you, this is one of the coolest houses we’ve seen in Kirkland – and built from sustainable materials! And don’t miss this new construction home in Bellevue with 20 foot ceilings and skylights inside and out!