(Numbers in parentheses are for last week’s data. This week’s data is reported through Thursday each week.)

Active Listings: 28 (32)

New listings:    0 (2)

Re-listed properties:   0(0)

Pending inspection:   2(0) 

Pending:   1 (0)

Closed Sales:    1(0)

Contingent sale: 0 (0)

Number of Price Reductions: 3 (0)

Cancelled listings  0 (0)

Expired Listings: 1 (0)

Temporarily Off Market:  0 (0)

Price increase:  0(0)

Back on market:  0 (0)

Rented: 0 (0)

———————————–

0-$349,999:  1  (1)

$350,000-$499,999: 5 (6)

$500,000-$749,999: 10 (11)

$750,000-$999,999:  9 (11)

$1,000,000- $1,499,999:  2 (2)

$1,500,000- $2,999,999:   1 (1)
———————————–
Average Price: $716,807 ($717,121)

Median Price:   $679,000 ($679,000)

Average Days on Market: 114 (112)

Highest Priced Listing: $1,599,000 ($1,599,000)

Lowest Priced Listing: $345,000 ($345,000)

The pending listing received an offer during the same week, so the inspection was done and resolved fairly quickly, bringing the home from an offer to pending an inspection to pending, all in the same week.

The closed sale of the week, in which the new buyer has taken ownership was for a rambler on 116th Ave NE with 2 bedrooms and 1 bath.  This home was on the market for 76 days and started at $362,500 was reduced to $349,800 and sold for $330,000.  The home sold for 9% below the original asking price.   Discounts are often necessary in all price ranges, even the most reasonable price range in the Kirkland Highlands.

Town homes/condos:

2 active town home/condo listings

1 pending

1 rented- after 209 days on the market in Kirkland’s Highpointe neighborhood, the seller took the home off the market and chose to rent. 

Renting a home or condo can be a smart move.  If a home owner feels they can’t get the price they’d like for a home or a condo, then renting may be a better option then selling.  Only sellers who need or want to sell, and are willing to let the market dictate pricing, should consider selling.  If renting and holding  a property makes more sense, then that’s the right choice in the current market.

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Weekly Real Estate Buzz in The Kirkland Highlands Through October 31st, 2008

Pending inspection:   0 (2) 

Pending:   0 (1)

Closed Sales:    0 (1)

Contingent sale: 0 (0)

Number of Price Reductions: 0 (3)

Cancelled listings  0 (0)

Expired Listings: 0 (1)

Temporarily Off Market:  0 (0)

Price increase:  0(0)

Back on market:  1 (0)

Rented: 0 (0)

———————————–

0-$349,999:  1  (1)

$350,000-$499,999: 5 (5)

$500,000-$749,999: 10 (10)

$750,000-$999,999:  10 (9)

$1,000,000- $1,499,999:  2 (2)

$1,500,000- $2,999,999:   1 (1)
———————————–
Average Price: $720,189 ($716,807)

Median Price:   $699,000 ($679,000)

Average Days on Market: 124 (114)

Highest Priced Listing: $1,599,000 ($1,599,000)

Lowest Priced Listing: $345,000 ($345,000)

One more home is on the market this week, than last week.  This is a new construction home that had been sold contingent and is now back on the market.  When a home is sold contingent, the buyer has a home they need to sell in order to purchase the new home.  Apparently, the buyer could not get their present home sold, so the offer expired on the new construction home in Kirkland’s Highlands.

Townhomes/condos

2 Active town homes

1 closed sale

$667,500 for a Highland Creek town home which was originally priced at $715,000, reduced to $679,990 and sold for $667,500 in 193 days, 7% below the original asking price.