Kirkland Real Estate Sales October 2009

There was a 18% chance of selling a home in Kirkland in October, 2009.

October, 2009       393 homes for sale         70 home sales                  18% odds of selling a home.

September, 2009    418 homes for sale   (now 52) 64 homes sold     (now 12%) 15% odds of selling.

October, 2008        507 homes for sale       22 homes sold          4% odds 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.

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 October, there was a 18% chance of selling a home in Kirkland.  Out of 100 homes for sale, 18 homes received and accepted offers.

The median price in Kirkland declined by 29% from $709,475 to $500,000. The number of sales increased by 142% from last October! More buyers are feeling more secure about getting out and buying a home since prices are down and the economy seems to be picking up.  I am hopeful the 2010 home buyer tax credit, which now includes most buyers, will continue the positive trend in Kirkland real estate sales.

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

Looking for more national real estate information?  The Seattle-Eastside area is certainly not alone in declining home values.