Wow, this is the most exciting real estate market Kirkland has experienced in 5 years! Almost half of all the homes for sale in February got offers and sold! That’s an incredible statistics, for any real estate market.
Why is the Kirkland real estate market so hot? Well, for one thing, if you look at the graph above, it’s easy to see that there aren’t many homes for sale right now. Through most of the summer months in 2011, the number of homes for sale was double what we have in Kirkland now. This increased competition among home sellers. Secondly, buyers are far more positive than they’ve been for years. Buyers feel good about making an offer for a home now. Finally, interest rates have crept up slightly, which can also spur buyers to literally make the move.
In Kirkland, 48% of the homes sold in February, compared to only 19% in 2011. It took on average 98 days for a home to sell and homes sold within 95% of the original asking price. Median pricing is down from February, 2011. This year the median price for the homes that sold was $442,000.
I can truly say this is the best to sell a home that we’ve seen in the Seattle and Kirkland area since early 2007. Sellers do need to remember, though, selling a home in today’s real estate market it must be at today’s pricing.