Debra Sinick

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How Was Kirkland’s Real Estate Market in December, 2011?

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, sellers on January 24, 2012 at 9:36 pm
Kirkland Real Estate

Kirkland Real Estate Sales Through Dec, 2011

In December, 2011, there were very few homes for sale in Kirkland.  Ninety fewer homes were for sale than in  December, 2010.  Looking at October, 2010, when 356 homes were for sale, will give you an idea of how dramatically the decline has been in the number of homes for sale.

I thought the percentage of sales, the absorption rate, would be higher this month than it is because there were so few homes on the market.  Apparently, buyers decided to focus on the holidays rather than buying a home in Kirkland in December.  Only 19% of the supply of homes sold, whereas 31% sold in November.

Median pricing in Kirkland went from $498,000 to $510,000.  Median pricing is based on the sales that happened in December and is a result of what sold that particular month.  It does not mean prices were up for the year.  Median pricing in Kirkland was down to the mid $400,000′s for the year.

Looking back at 2011 in Kirkland real estate:

  • The fewest home sales ( pending):  32 in December.
  • The most number of homes sales (pending):  79 in April.
  • The fewest number of homes for sale:  167 in December
  • The most number of homes for sale:  289 in June and July
  • The best absorption rate (supply to sales):  28% of the homes sold in April and November
  • The lowest absorption rate:  16% in January

The above chart follows a typical pattern with more homes coming on the market in the summer. Almost every year,  more homes are for sale in the summer than at the beginning or end of the year.  That being said, if you plan to sell your home, consider putting it on the market before the middle of the summer.  Your home will have far less competition.

If you would like information about your home, please contact Brooks or me and we’re happy to help you.

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How Was The Kirkland Real Estate Market in November, 2011?

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on December 15, 2011 at 10:21 am
Home Sales in Kirkland

Kirkland Real Estate Sales Through November, 2011

Sellers are taking their homes off the market in Kirkland.  Look at the difference between July and November.  There are 100 less homes on the market in November than earlier this year and in November of last year.  This is the lowest number of homes we’ve seen on the market so far this year, and for a number of years.

Real estate sales in Kirkland have bounced between a low of 41 in January to a high of 79 in April. Because there are so many fewer homes on the market now, the chances of selling a home in Kirkland increased dramatically this month.  If your home was on the market in November, there was a 31% chance it would have sold.  These odds were the highest on the eastside.

Median pricing in Kirkland followed King County,  dropping considerably this month, from $530,000 to $477,000.  Median pricing is based on the sales that happened during November and is a function of what sold that particular month.  In addition, the statistics on pricing were greatly affected by a number of bank foreclosures and short sales.  Non-distressed sales do not show such a huge drop in pricing.  However, the numbers for all sales get lumped together when statistics are reported.

Thirty-one percent of the available homes sold last month.   If the number of homes on the market continues to drop, then a higher percentage of homes may sell next month.  Homes took on average 105 days to sell and sold within 92% of the original asking price.

Even though there’s a really low number of homes for sale right now, the above chart follows a typical pattern.  More homes are for sale in the summer than at the beginning or end of the year.  That being said, if you plan to sell your home, consider putting it on the market before the middle of the summer.  Your home will have far less competition.

With fewer homes on the market, more affordable prices, and low interest rates, I expect homes will continue to sell even as we head into the holiday season.  Have a wonderful holiday season and a Happy New Year.

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A New Trail is Coming to Kirkland!

In Kirkland WA, rails to trails on December 13, 2011 at 7:15 pm

A Cross Kirkland Trail?  It’s now many steps closer to reality after last night’s unanimous vote by the Kirkland City Council to purchase the 5+ miles of the BNSF corridor that runs through the city.  Thank you to the entire City Council and City Manager Kurt Triplett for having the foresight to preserve this piece of land for all of Kirkland to use in the future.  The Cross Kirkland trail will connect our neighborhoods and shopping areas via a fabulous walking trail.  It will be a terrific addition the Kirkland lifestyle, offering a place to walk from one end of the city to the other.  Walking trails are a huge plus to many in today’s world as people try to find fun ways to get out of their cars and onto their two feet.

I’m personally excited and thrilled for the City of Kirkland.  I started writing about this issue way back in the spring of 2007 because the corridor wraps around the northern and western boundary of our neighborhood.   I’ve written 28 posts over the years about what was to be the latest and greatest with the trail.  I’m looking forward to future posts, which will be about the plans to develop the trail along the corridor.   Woo Hoo!  See you out on the trail!

The BNSF Corridor before it becomes a trail

Fun on the what will be the future Cross Kirkland Trail

Walking Along the BNSF corridor in Kirkland

Walking Along What Will Be The Future Cross Kirkland Trail

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