Pending:  0(0)

Closed Sales:   1(1)

Contingent sale: 0(0)

Number of Price Reductions:  0(0)

Cancelled listings 0(0)

Expired Listings 0 (0)

———————————–
Number of homes available:    29(28)

0-$349,999:   0(0)

$350,000-$499,999:   2(1)

$500,000-$749,999:    6(6)

$750,000-$999,999:   12(11)

$1,000,000- $1,499,999:   6(6)

$1,500,000- $2,999,999:   3(3)
———————————–
Average Price: $974,804 ($975,011)
Median Price:   $873,550 ($875,443)

Average Days on Market: 85(84)

Highest Priced Listing: $2,299,950 ($2,299,950)

Lowest Priced Listing: $424,900($460,000)

(data from NWMLS)

My analysis of this week’s real estate buzz:

Two new listings are on the market in Highland Creste, although one is a re-listed property.  There are now three homes on the same street for sale, ranging in price from $749,000 to $765,000.  These homes are located on a quiet street that ends in a cul-de-sac up at the north end of the neighborhood.

A Kirkwood Manor home received an offer this week and ts listing price was $545,000.  I will let you know the final sales price when it closes.

The closed sale of the week was $767,500, 7% below the original asking price of $824,900.  The home was a remodeled daylight rambler with 2350 square feet.

There are now 5 active town home listings in the Highlands.  Two of these homes are re-listed properties.  One has been re-listed at significantly less than its original asking price of $774,950 and is now $689,900. A town home in Kirkland Highpointe was also re-listed at a new price of $599,000.  Another Kirkland Highpointe town home sold for $600,000, down by 8% from the original list price of $649,950.

Ironically, activity in Kirkland is not as dramatically different than last year at this time.  It is much slower going, but Kirkland is not experiencing as big a change from last year’s activity as some other Eastside neighborhoods.  We are seeing less than a 10% change in activity in all of Kirkland, whereas in some other neighborhoods the drop in market performance  is as much as 20-25%.   

I will continue to report on the market performance for all of Kirkland in my “What are the chances of selling” updates and on The Highland’s weekly performance in my “Weekly Real Estate Buzz.”  Thanks for reading and have a great 2008!