Pending:  2(2)

Closed Sales:   1(0)

Contingent sale: 0(0)

Number of Price Reductions:  4(1)

Cancelled listings 0(0)

Expired Listings 2 (0)

———————————–
Number of homes available:    26(28)

0-$349,999:   0(0)

$350,000-$499,999:   3(3)

$500,000-$749,999:    8(6)

$750,000-$999,999:   9(11)

$1,000,000- $1,499,999:   4(5)

$1,500,000- $2,999,999:   2(3)
———————————–
Average Price: $907,797 ($954,317)
Median Price:   $860,800 ($871,050)

Average Days on Market: 92(93)

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

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

(data from NWMLS)

My analysis of this week’s real estate buzz:

No true “new” listings as this week’s new listing was on the market last fall.  It’s priced at $549,900, after coming on the market last summer for about 600k.  A similar home in the same neighborhood, Kirkwood Manor, is now pending at $545,000, so it appears this new price is more in the ballpark. 

Two homes are off the market, one is a new construction home on 112th, listed at $1,795,000.  Since it’s new construction,  I expect it to come back on the market.  The other home is in Edwards Place and was priced in the mid 500′s.

There’s a sale this week for a home priced at $1,175,000.  This traditional style home is 3190 square feet, built in 1996 and has all the bells and whistles with 4 bedrooms, a bonus room, den, and 3 car garage.

Two homes are now pending, one in Forbes Creek and one on 116th Ave NE.

The closed sale of the week was in Edwards Place.  The home was 1650 square feet and located on a cul-de-sac.  Originally priced at $499,950, it sold for $400,000, a 20% difference!  This sale represents one of the biggest differences between the original asking price and the sales price of any recent sale in the Highlands.

In a previous post, I wrote about 3 homes for sale on the same cul-de-sac, NE 107th.  All three homes had price changes this week, ranging from $50.00 to over $50,000.  Hmm, I wonder who will be the winner on that one! 

The three homes are now priced at $699,000, down from $759,000, the second is now $725,000 down from $765,000, and the third is $50.00 higher at $749, 950, up from $749,000. 

The 4th price reduction is for a Kirkwood Manor two story with extensive remodeling.  It went on the market at $675,000, and, now, after the second price reduction is $599,950.

 Over in the town home market, one town home has come back on the market at a higher price than its original listing.  Located up in Forbes Creek, it’s a town home with shared walls and a detached garage.  It was last priced at $425,000 and has been re-listed at $440,000. 

 My listing in Moss Bay Crest closed on Friday at $405,000.  Its original asking price was $435,000, and it was reduced to $419,000 when it received this offer.  The sales price represents a 9% difference between the original asking price and the final selling price, a typical difference in the current market.

Inventory has crept up by about 1000 properties in King County since the first of the year.  I would expect more homes to come on the market in the late spring, if we follow typical inventory patterns.  Competition to sell may actually be less right now.  So if you are thinking of selling your home, it may be better to move forward now rather than later this year.