Eastside weekly wrap-up: new listings double the number of homes under contract

For those who might have missed it, the market is slowing down even as more sellers get their homes on the market! This week saw 370 new listings hit the market but only 186 homes being put under contract. That’s the second week in a row that new listings nearly doubled the homes being put under contract on the Eastside and the third week in a row that pending sales declined.

Diving beyond the data, we only toured a few of those listings this weekend and all three looked to be pretty popular. One listing agent in Redmond told me they had shared the inspection report with 15+ parties by Friday – buyers seem to all be chasing the top few homes each week. Most homes are going beyond their review date though. Sellers, make sure you’re pricing your home where you’ll be happy getting only one offer as you can’t count on the bidding wars we saw before rates started climbing.

For homes we liked this week among all the new listings, a mid-century by Anker Molver in Kirkland is the stand-out with all those west-facing views. For waterfront, a $10.5M west-facing home with 82 feet of no-bank shoreline on Mercer Island and Yarrow Point was not to be out done as a $20M west-facing home with 115 feet of low-bank waterfront also hit the market. Also on Mercer Island, a Ralph Anderson mid-century hit the market for $2.65M.

Hope you got to enjoy the sun this weekend and keep your fingers crossed for the forecast to change for the holiday weekend!