Eastside weekly wrap-up: sellers are confident the buyers will be there!

Someone looking at new listing counts this week might only see that new listings are down 8% week-over-week with 212 new properties hitting the market. And that is still one of the biggest weeks for listings on the year! However, we see that the sellers on the Eastside are feeling confident that the buyers will be there. How can we tell they’re confident? Because the percent of new listings with offer review dates hit 39% this week!

For most of the year, about 20-25% of new listings had offer review dates when they hit the market. With nearly 40% of homes having offer deadlines, that’s a lot of sellers who are planning on multiple offers and bidding wars despite high interest rates and the biggest week of listings last week. I hope they’re right!

For buyers, they put 159 homes under contract which is up 23% week-over-week. It’s also the second week in a row that pending sales have climbed since the 4th of July weekend. And the week ended with 826 active homes for sale which is the largest amount of inventory this year. Buyers have homes to choose from, especially the last two weeks. Normally, we’re shifting into the slowest 4-6 weeks on the year so we’ll see if we buck that trend in this new market!

Even though it was another big week for listings, the only stand-out was a home in Yarrow Point with 55′ of waterfront and a 100′ dock for boats of nearly any size!

Our next home buying class is coming up on August 8th via Zoom. We hope you can join us or shoot me a text if you want to get coffee can chat!