Forty-five percent of the homes for sale in Kirkland in May sold that month. Think about it, almost half of the homes for sale sold! The odds of selling a home are very strong because the supply is lower than is usual at this time of year. There were 19 more homes for sale last month than in April, but more homes actually sold in May than in April. March has been the best month to sell a home in Kirkland so far this year when 60% of the available homes sold that month. I would be surprised if we duplicate that again this year, but the reality is the odds of selling are still very high.
In Kirkland, 45% of the homes sold in May. It took on average 79 days for a home to sell and homes sold within 93% of the original asking price. The 79 days is considered a shorter average time to sell. Median pricing was UP from May, 2011. This year the median price for the homes sold in May was $617,000. Last year, the median price of the May sales was $548,000. Remember, the median price reflects only what sold during the month of May. Prices are up a bit at this point, but the reality is the median price for May includes homes that sold at a higher price point than in May, 2011. It is important to look at a 6 month trend to determine where prices truly are at.
Fifty-five percent of the homes did not sell, so just putting your home on the market does not guarantee a sale. The most important component to successfully selling your home is to price it right according to what is current market value. Just because the market is stronger, it does not mean that an overpriced home will sell. Remember the 55% I just mentioned?
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 that we actually have a summer since the calendar tells us summer is here.