What was the hottest price range of the week in Kirkland, south of NE 116th?

This chart is updated weekly by (Windermere Real Estate/East, Inc., using MLS data) to show the price ranges of the homes sold each week.

Here’s how it’s set up:

The colors show who has the advantage in a particular price range. 

• Green means the buyer has the advantage with many homes to choose from and not that many selling.
• Yellow means the number of homes for sale and the number of sales in the price range is balanced between the buyer and the seller.
• Red indicates a sellers’ market where the seller may have the advantage as more homes are selling when compared to what’s available.

Down the side of the chart, the home sales activity is broken down into a price bracket of $99,999. All the homes priced between $400,000-499,999, as an example, are put together in one price category in the chart.

Across the top, the chart is broken down into real estate activity by the week.

If you take the $400-499,999 line and follow it across the chart, you’ll see what has happened each of the last seven weeks.  There are three columns under each week. On the left side of the column is the number of homes for sale in Kirkland.  The middle column shows how many homes sold that week, and the final column under the date shows the months supply of homes for sale.  In other words, if no other homes came up for sale, it would take an average of 5 months to sell all the homes in the $400-499,999 price range.

The last section shows the 7 week average of each category, the number of homes for sale, the number sold, and the months supply.

The color yellow, which stands for a balanced market between buyers and sellers,  has been few and far between on these charts.  It’s been a very long time since we’ve seen a balanced real estate market anywhere. Most columns have been green, marked with a buyers’ advantage, for a very long time. It’s been an even longer time since we’ve seen so much read, a buyer’s market, too.

Week of June 3rd, 2009:

Hottest price range for the week: $900-999,999.

• Most number of home sales $900-999,999, 2 homes sold
• Most number of homes for sale $1,000,000-1,499,999  83 homes for sale.

Week of May 27th, 2009

Hottest price range for the week.: $400-499,999

• Most number of home sales:  $400-499,999  5 homes sold. 
• Most number of homes for sale:  $1,00,000-1,499,999 82 homes for sale.

Week of May 20th, 2009

Hottest price range of the week: $500-599,950

• Most number of home sales:  $500-599,999  3 homes sold.
• Most number of homes for sale: $1,000,000-1,499,999  85 homes for sale.

When you review this chart, it’s clear how much of a buyer’s market exists above the $1million range.  There are a large number of homes for sale in Kirkland in this price range, which translates to a strong buyer’s advantage.

There have been some weeks when a particular price range  bumped into the seller’s advantage, but overall, the buyers are still in control.

It will be interesting to see what develops over the next few weeks as I’m seeing more homes come up for sale in Kirkland.  I expect it to continue to be very competitive with most of the home sales falling below $500,000. What do you predict?