Eastside weekly wrap-up: plenty of pent up buyer demand for the homes out there!
Rolling into the heart of January, last week saw pending homes sales jump 102% from the first week. This isn’t surprising but should be a good indicator for sellers waiting to get their homes on the market. Buyers are out there! There has been consistency in rates (hovering around 6.7%) for the last several weeks which is helping buyers get comfortable with their new budget and start their searches again.
It also helps that inventory isn’t dropping anymore. Active listings on the Eastside was at 422 at the end of the week and I expect it to keep rising a little bit each week until the spring. We saw 87 new listings and we’d encourage sellers to continue to hustle to get their homes prepped (ask us how we can help!). Listing sooner rather than later will help your home stand out before there is more listing competition… although that may not matter with all the buyers waiting on more inventory right now.
For new construction news, we got more details on 45 new luxury homes coming to Woodinville! The Puget Sound Business Journal reported that the Harvest development from Terrene Homes will have the first new homes ready by the end of the year. The 2,100-2,500 square foot homes will be duplexes and sold condominium style. Prices are expected to start under $2 million.
Only a couple of homes stood out this week – a rare waterfront home in Renton (sign me up!) and a very spacious unit on the 20th floor of One88 in Bellevue (almost 2,000 square feet).
