Debra Sinick

Archive for December, 2009|Monthly archive page

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The Hot Sales Price for Kirkland Homes, 12-17-09

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on December 18, 2009 at 8:05 am

The hot price range of the week in Kirkland?   $300-399,999

  • Most number of home sales in Kirkland: $300-399,999 3 sales.
  • Most number of homes for sale $1,000,000-1,499,999:  48 homes for sale.
  • Two homes sold in the $3,000,000-3,999,999 range!  This is big news as this price range in Kirkland has not moved for quite a while.
  • Most number of homes for sale in the last 7 weeks:  11-11-09,  385 homes for sale.
  • Highest number of home sales in Kirkland in the last 7 weeks:   11-18-09 when 20 homes sold.
  • There were 342 homes for sale in Kirkland and 8 homes sold last week.  With the extreme cold of last week, it could be people chose to stay home and not venture out to buy.
  • The number of homes for sale in Kirkland is slowly, but steadily, dropping each week, which helps to balance the smaller number of sales over the last couple of weeks

  • Peak  of homes and condos for sale in King County so far this year?
  • July 27th marked a high of 13,861 homes and condos for sale in King County.
  • Week of 12-14-09   11,335 homes and condos for sale in King  County, the smallest number in all of 2009!

With the drop in inventory, properties for sale, and the increase in sales, this is a good time to think about selling your home.  If you’re thinking of making a move in the spring, there’s likely to be more homes and condos for sale on the eastside, meaning more competition to sell.

Kirkland Home Sales- 12-16-09

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 4.5 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.

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What Were The Odds of Selling Your Kirkland Home in November, 2009?

In buyers, Kirkland News, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on December 17, 2009 at 10:39 am

Kirkland Real Estate Sales, Nov 2009

November, 2009   371 homes for sale          54 home sales                        15% odds of selling a home.

October, 2009       393 homes for sale         70 ( now 57) home sales                  18% (now 14.5%) odds of selling a home.*

November, 2008        457 homes for sale       17 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 November, there was a 15% chance of selling a home in Kirkland.  Out of 100 homes for sale, 15 homes received and accepted offers.

The median price in Kirkland remained the same at $739,000.  Considering the drops in median price we’ve seen each month, this is a huge deal.  To me, it indicates the real estate market in Kirkland is no longer spiraling down and, hopefully, has leveled off.  The next few months will tell us if this is true.

The number of sales increased by 148% from last November! More buyers are feeling good about getting out and buying a home.

The real estate market in Kirkland is so much stronger than it was last year and the first part of this year.  Fewer homes are on the market and more homes are now selling.  It’s as if a huge weight was lifted off the Kirkland real estate market during the summer and this “weight” may now have disappeared.  On Seattle’s eastside the number of homes for sale is the lowest number we’ve seen since March, 2007.

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.


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Latest Real Estate Buzz in the Kirkland Highlands, 12-14-09

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on December 15, 2009 at 9:56 am

The number of homes for sale on Seattle’s eastside, 2943, is the lowest we’ve seen since the spring of 2007.  March, 2007 was the last time the number of homes for sale on the eastside was under 3000!    With the extension of the home buyer tax credit and the lower numbers of homes for sale, if you’re going to sell your home, get started now, rather than later in 2010.

The real estate statistics below reflect the activity in The Kirkland Highlands for the past two weeks. All data is taken from the NWMLS through Monday.


View Larger Map

The map shows most of the outline of Kirkland’s Highlands neighborhood. The map address is simply for a street corner in the middle of the Kirkland Highlands. For those not familiar with the neighborhood, it’s a pocket of unique homes close to downtown Kirkland. In some ways it feels like an island, because it’s separated on the east by 405, the south by Central Way (the main route to downtown) and the west and north by the BNSF railroad tracks. The neighborhood has the best of both worlds, a little isolation without any through traffic, but just seconds from everything.

Numbers in parentheses are from the last report:

Active Listings: 22 (22)

New listings: 0 (0)

Pending inspection: 2 (0)

Pending: 0 (0)

Closed Sales: 1 (1)

Number of Price Reductions: 1  (1)

Price increase: 0(0)

Homes off the market that did not sell: 1 (2)

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0-$349,999: 1 (1)

$350,000-$499,999: 6 (6)

$500,000-$749,999:  7 (8)

$750,000-$999,999: 7 (7)

$1,000,000- $1,499,999: 1 (1)

$1,500,000- $2,999,999: 0 (0)
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Average Price of homes for sale: $662,601($667,906)

Median Price of homes for sale: $699,990 ($699,990)

Average Days on Market:  132 (137)

Highest Priced Listing: $1,150,000 ($1,250,000)

Lowest Priced Listing: $299,000 ($285,000)

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Closed Sales:

$1,070,000, last asking price $1,225,000, original asking price $1,749,900, sold in 313 days for 39% below the original asking price.

Peak in the number of homes for sale in 2009:

7-27-09  13,861

Now:

12-14-09 11,335

****The smallest number of homes and condos for sale all year!****

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5 Town homes on the market

1 pending town home sale


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The Final News on The Seattle-Eastside BNSF Rail Line?-Maybe

In Bellevue, King County, Kirkland News, Kirkland WA, rails to trails, Redmond, WA on December 9, 2009 at 12:01 pm

In the past I’ve written a lot about the BNSF rail line.   You know the rail line that handled the Dinner Train through the eastside and Kirkland for many years, but I haven’t been writing much about it lately.  Mostly because the situation seems to change on a weekly (daily?) basis and still nothing is written in stone as of yet.

But recently, there have been new plans brewing all over the eastside, not just Kirkland, but also in Redmond and Bellevue.

BNSF rail line

Some of these plans for the Eastside BNSF rail line may actually happen if the sale of the line goes through this month.

According to Keith Ervin from The Seattle Times, here are some possible deals:

• The Metropolitan King County Council is reviewing a request by Executive Dow Constantine for $26.5 million to buy most of the corridor south of Woodinville.

• The Cascade Water Alliance is negotiating to buy an easement, possibly for around $8 million, that would eventually allow it to bring water from Lake Tapps to homes in Bellevue, Kirkland and other Eastside cities, alliance spokeswoman Elaine Kraft said Monday.

• Puget Sound Energy wants to obtain permanent easements for more than 180 existing crossings of the rail corridor by natural-gas and electric lines and for future easements, said Sue McLain, the company’s vice president of operations. She declined to discuss the price.

• Sound Transit is considering buying rights to use parts of the old rail line in Bellevue for its Eastside light-rail extension and the right to operate commuter trains on a longer segment sometime in the future, spokesman Geoff Patrick said.

So where is Kirkland and The Kirkland Highlands in all of this? Most critical is Metroplitan King County Council’s plan to buy most of the corridor south of Woodinville, which includes Kirkland.  Dow Constantine has gone on record with his support of the trail for recreational use:

County Executive-elect Dow Constantine said the agreement will fulfill a promise to the region that the Eastside Rail Corridor will receive long-term protection from development and that it will be made available for recreational uses.

“By keeping this key transportation and recreational corridor in public ownership, we are making a major commitment to our shared future in King County,” Constantine said.

Does this mean the line will only be a trail and not used for transportation? The jury is still out on this one, but keeping the line in public hands is more of a guarantee the line will be used for a trail than if it gets into the hands of private concerns.  Although many studies have been conducted in the past that question the viability and cost of the line for effective transportation, I expect continuing studies will be done.

“We brought together a great consortium of partners to bring the BNSF corridor into public ownership for perpetuity,” said Councilmember Larry Phillips.  “Securing this right-of-way is a once-in-a-lifetime opportunity for the public to own a continuous transportation and recreation corridor between some of the region’s fastest growing cities and paralleling congested I-405.”

Interim trail use (“railbanking”) will be established on the Southern Portion and the
Redmond Spur under the National Trails Systems Act, 16 U.S.C. 1247(d) as of the closing of the Port’s transaction with BNSF.

The southern portion of the rail line means Kirkland and Bellevue.

Who will pay for acquisition of the rail line?

The Executive proposes use of the voter approved Conservation Futures Levy to acquire the sections of corridor between Renton and Woodinville and the seven mile spur between Woodinville and Redmond with the exception of the section inside the City of Redmond.  Partners in the historic deal will purchase easements on the property for transportation and utility use.

What are do you think of about the future of the BNSF rail line in Kirkland?  How would you like to see it used?


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Good Bye to Kirkland’s Third Floor Fish Cafe

In Kirkland News, Kirkland WA on December 4, 2009 at 5:31 pm

Kirkland Third Floor Fish Cafe

Third Floor Fish Cafe is going soon. I’m going to miss their fabulous sunsets views from the restaurant. It has some of the best views, along with good food, in downtown Kirkland. But it has become the latest change/casualty of the Kirkland restaurant scene.

There have been a lot of good byes in Kirkland.  This has been a year when we’ve seen such Kirkland mainstays as The Yarrow Bay Grill closing.  And now it’s The Third Floor Fish Cafe.  I’m sad to see them go.

The downtown core of Kirkland is one of the most important things that distinguishes us from other eastside cities.  With our waterfront setting, parks, shops, and restaurants, downtown Kirkland can be a happening place.

If we all can attempt to support Kirkland businesses of all kinds, it will help maintain our city’s character and uniqueness.  With our collective efforts supporting Kirkland businesses, we can help local businesses survive, keep downtown a fun, vibrant place.   Check out the Kirkland First website for a list of Kirkland businesses and all kinds of discounts for Kirklanders.

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The Hot Sales Prices for Kirkland Homes, 12-02-09

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on December 4, 2009 at 3:17 pm

The hot price range of the week in Kirkland?   $200-299,999, $400-$499,999, $500-$599,999, and $800-899,999.  A busy week for Kirkland real estate!

  • Most number of home sales in Kirkland: $200-299,999, $400-$499,999 and $500-599,999, and $800-899,999 3 sales each.
  • Most number of homes for sale $1,000,000-1,499,999:  50 homes for sale. There were 60 homes for sale a few weeks ago. Recently, the number has continued to stay on the lower side.
  • Highest number of home sales in Kirkland in the last 7 weeks:   11-04-09 when 18 homes sold.
  • There were 362 homes for sale in Kirkland and 16 homes sold last week.  The number of homes for sale in Kirkland is slowly, but steadily, dropping each week.

  • Peak  of homes and condos for sale in King County so far this year?
  • July 27th marked a high of 13,861 homes and condos for sale in King County.
  • Week of 11-30-09   11,797  homes and condos for sale in King  County, the smallest number since the first week in January of this year.

With the drop in inventory, properties for sale, and the increase in sales, this is a good time to think about selling your home.  If you’re thinking of making a move in the spring, there’s likely to be more homes and condos for sale on the eastside, meaning more competition to sell.

Kirkland Real Estate Sales - 12-02-09

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 2.9 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.

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