The Kirkland real estate market is still moving along well as 36% of the listed homes sold in April. In March, 60% of the homes sold, so it may seem as if the Kirkland market was off in April. A sales record of 60% is phenomenal, but 36% is still an excellent return and is more typical of what is considered a stellar sales month. It will be interesting to see if any other month is able to match March’s amazing sales record.
Homes are selling fast! When I check our daily statistics, I see a lot of the newer listings selling in under a week. Buyers jump on these homes if they’ve been out looking at homes for awhile. They’ve been educated and know a good home when they see it. Multiple offers are fairly common, if a home is priced well and shows well. We sold several of our listings in a matter of days with multiple offers. It reminds me of the boom years! The difference now is that home prices are at a more affordable price point.
The lack of supply, the homes for sale, continues. So far this year, there are fewer homes on the market each month, which is highly unusual for this time of year. We may see more homes on the market as the school year comes to an end. Sellers are also feeling more comfortable in this positive market, so more homes could come up for sale, increasing the inventory. We still suspect inventory to remain on the lower side this year.
In Kirkland, 36% of the homes sold in April. It took on average 72 days for a home to sell and homes sold within 95% of the original asking price. Last month the average number of days to sell a home stood at just over 3 months, so the time it takes to sell a home is dropping. Median pricing was down from April, 2011. This year the median price for the homes sold in April was $430,000. Last year, the median price of the April sales was $550,000. Remember, the median price reflects only what sold during the month of April. It is important to look at a 6 month trend to determine where prices truly are at.
If you’d like to find out more about the Kirkland real estate market, don’t hesitate to call or email us. Have a great month and let’s hope the sun keeps shining. It’s terrific out there!