Kirkland Real Estate Sales, August, 2009

There was a 21% chance of selling a home in Kirkland in August, 2009.

August, 2009      428    homes for sale      88 homes sold       21% chance of selling a home.

July, 2009         458 homes for sale        53 (was 66) homes sold          11.5%   (was 14%) chance of selling a home.*

July, 2008      515 homes for sale      43 homes sold         8% chance of selling a home.

*(Reflects the revised percentage of homes sold because some home sales failed.)

If you click on the link, you’ll see the MLS charts which show the real estate trends, including median price, for the past five years in Kirkland.

(There’s a slight difference in the actual numbers between the Trendgraphix chart above and the MLS statistics in the link. The numbers may vary, depending on when the data is retrieved, but the trends are the same in each chart.)

The chances of selling is another way to characterize the “absorption rate” in which we take the number of homes sold in a particular month and divide it by the number of homes on the market. This number tells us what the odds are that a home will sell.  In August there was a 21% chance of selling a home in Kirkland.  Out of 100 homes for sale, 21 homes received and accepted offers.

The median price in Kirkland declined by 10.5% from $649,950 to $581,919  and the number of sales increased by 83% from last August!  This is a huge increase and by far the best we’ve seen for Kirkland.  In The Kirkland Highlands, as all over Kirkland, I’m seeing a new attitude, a return to a more confident market in which buyers in all price ranges are willing to buy a home.

The high end of the market has new life!  More home sales are happening over $1 million than we’ve seen in a very long time.  Not only are there more home sales here in Kirkland, I’m hoping the worst is behind us.  This past month, one of the most active price ranges in Kirkland was the $1000-1, 499,999 range, which is completely opposite what we’ve seen over the past year.  This is good news. It means more buyers are venturing out in all price ranges, not just the lower ranges.   The Seattle Times had a good article on higher end real estate sales.

For the complete picture of home sales on Seattle’s eastside, check out my eastside blog post.