The terrific real estate market in Kirkland continued into March. Almost 60% of all the homes for sale got offers and sold.
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, 57% of the homes sold in March. It took on average 94 days for a home to sell and homes sold within 94% of the original asking price. Median pricing was down from March, 2011. This year the median price for the homes that sold was $469,000.
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 still requires competitive pricing and a home that shows well.