Happy New Year! This year when reporting my weekly real estate statistics for the Kirkland Highlands, I’ll add some commentary from economic gurus and real estate pundits. It may help you to understand and further evaluate the real estate market. As a real estate professional, I have to keep on my toes and listen and learn from the experts out there. I expect the real estate market to continue to be challenging in 2009. Stay tuned, it’s going to be a wild ride and I’ll keep you informed as we go along for the ride. But as everything in life, this too, shall pass.
Since most people were occupied with the holidays and the snow, I took a break from the weekly real estate statistics, but will now be back with with a few possible breaks in the year. The total listings are the number of homes for sale in The Kirkland Highlands as of today,while any other activity, such as canceled, expired or price reduced listings are from the last three weeks.
Active Listings: 23 (27)
New listings: 0 (0)
Re-listed properties: 2 (0)
Pending inspection: 0 (1)
Pending: 0 (0)
Closed Sales: 0 (0)
Contingent sale: 0 (0)
Number of Price Reductions: 1 (1)
Canceled listings 2 (0)
Expired Listings: 2 (0)
Temporarily Off Market: 0 (0)
Price increase: 0(0)
Back on market: 0 (0)
Rented: 0 (0)
Sale Fail: 0 (0)
———————————–
0-$349,999: 1 (1)
$350,000-$499,999: 5 (5)
$500,000-$749,999: 6 (9)
$750,000-$999,999: 10 (10)
$1,000,000- $1,499,999: 1 (1)
$1,500,000- $2,999,999: 0 (1)
———————————–
Average Price: $710,807 ($733,944)
Median Price: $725,000 ($699,000)
Average Days on Market: 154 (139)
Highest Priced Listing: $1,195,000 ($1,599,000)
Lowest Priced Listing: $324,950 ($324,950)
Townhomes/condos
1 Active town home listed
The Kirkland Highlands starts the year off at a low number of listings for the neighborhood. Four listings were canceled or expired over the last few weeks, dropping the total number of homes for sale. With 23 listings now on the market, the number matches the two weeks with the lowest number of listings during 2008. Both weeks were in February of last year. The most number of homes for sale in any given week happened twice last year, when 31 homes were for sale in the Kirkland Highlands on July 17th and November 20th.
I focus on inventory because inventory, with supply and demand, is an important piece for homes to sell. Less inventory, that is also well priced, will only help to sell homes in our current real estate market. Please only consider selling your home if you’ll price it competitively and have it looking fabulous. There are sales happening and it’s the homes that meet this criteria that get buyers.
Here’s a few comments from some economic forecasters:
“At our office we have been focused for some months now specifically on inventory levels. While prices do provide some measure of market performance, even more important is the relationship between supply and demand and trends in such numbers. With expectations of seasonally increasing sales activity, we continue to emphasize that supply will dictate and shape the spring selling season and, for the most part, the rest of the year.”
“he looks at three indicators that would signal a turnaround: median home price-to-income ratios, inventory, and the cost of renting versus owning.”
Have a great year and I’ll keep you posted on the Kirkland Highlands real estate activity.
Kirkland Highlands Real Estate Buzz
