Kirkland Real Estate Sales Through November, 2011
Sellers are taking their homes off the market in Kirkland. Look at the difference between July and November. There are 100 less homes on the market in November than earlier this year and in November of last year. This is the lowest number of homes we’ve seen on the market so far this year, and for a number of years.
Median pricing in Kirkland followed King County, dropping considerably this month, from $530,000 to $477,000. Median pricing is based on the sales that happened during November and is a function of what sold that particular month. In addition, the statistics on pricing were greatly affected by a number of bank foreclosures and short sales. Non-distressed sales do not show such a huge drop in pricing. However, the numbers for all sales get lumped together when statistics are reported.
Thirty-one percent of the available homes sold last month. If the number of homes on the market continues to drop, then a higher percentage of homes may sell next month. Homes took on average 105 days to sell and sold within 92% of the original asking price.
Even though there’s a really low number of homes for sale right now, the above chart follows a typical pattern. More homes are for sale in the summer than at the beginning or end of the year. That being said, if you plan to sell your home, consider putting it on the market before the middle of the summer. Your home will have far less competition.
With fewer homes on the market, more affordable prices, and low interest rates, I expect homes will continue to sell even as we head into the holiday season. Have a wonderful holiday season and a Happy New Year.
Kirkland Highlands Real Estate Buzz
