Debra Sinick

Archive for the ‘Kirkland, WA Real Estate’ Category

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How Was Kirkland, WA Real Estate in January, 2012?

In market statistics, buyers, sellers, Kirkland WA, Kirkland, WA Real Estate on February 17, 2012 at 11:06 am
Home Sales in Kirkland, WA

Kirkland Real Estate Sales Through January, 2012

There were only 155 homes for sale in Kirkland in January.  It’s easy to see from the chart that this number means there aren’t a lot of homes for sale in Kirkland right now.  The lack of supply should enhance the prospects for those sellers whose homes are priced right and show well.  The good homes should sell more quickly this year.

In January, 26.5% of the supply of homes sold, which is similar to the high percentage of sales in the April and May of last year.  Not as many homes actually sold in January, but not as many homes were on the market either. 

Median pricing in Kirkland went from $534,000 to $522,000.  Median pricing is based on the sales that happened in January and is a result of what sold that particular month.   On average, it took only 62 days for the homes to sell last month and most homes sold within   % of the original asking price.

We’re excited to see how this real estate market will turn out this year.  It should be the best Kirkland real estate market in 5 years, but don’t expect prices to go up by much, if anything.

If you would like information about your home, please contact Brooks or me and we’re happy to help you.

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How Was Kirkland’s Real Estate Market in December, 2011?

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, sellers on January 24, 2012 at 9:36 pm
Kirkland Real Estate

Kirkland Real Estate Sales Through Dec, 2011

In December, 2011, there were very few homes for sale in Kirkland.  Ninety fewer homes were for sale than in  December, 2010.  Looking at October, 2010, when 356 homes were for sale, will give you an idea of how dramatically the decline has been in the number of homes for sale.

I thought the percentage of sales, the absorption rate, would be higher this month than it is because there were so few homes on the market.  Apparently, buyers decided to focus on the holidays rather than buying a home in Kirkland in December.  Only 19% of the supply of homes sold, whereas 31% sold in November.

Median pricing in Kirkland went from $498,000 to $510,000.  Median pricing is based on the sales that happened in December and is a result of what sold that particular month.  It does not mean prices were up for the year.  Median pricing in Kirkland was down to the mid $400,000′s for the year.

Looking back at 2011 in Kirkland real estate:

  • The fewest home sales ( pending):  32 in December.
  • The most number of homes sales (pending):  79 in April.
  • The fewest number of homes for sale:  167 in December
  • The most number of homes for sale:  289 in June and July
  • The best absorption rate (supply to sales):  28% of the homes sold in April and November
  • The lowest absorption rate:  16% in January

The above chart follows a typical pattern with more homes coming on the market in the summer. Almost every year,  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.

If you would like information about your home, please contact Brooks or me and we’re happy to help you.

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How Was The Kirkland Real Estate Market in November, 2011?

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on December 15, 2011 at 10:21 am
Home Sales in Kirkland

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.

Real estate sales in Kirkland have bounced between a low of 41 in January to a high of 79 in April. Because there are so many fewer homes on the market now, the chances of selling a home in Kirkland increased dramatically this month.  If your home was on the market in November, there was a 31% chance it would have sold.  These odds were the highest on the eastside.

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.

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How Was The Kirkland Real Estate Market in October 2011?

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on November 17, 2011 at 12:23 pm
Number of home sales in Kirkland, WA

Kirkland Real Estate Sales Through October, 2011

Real estate sales in Kirkland have been been fairly steady over the last few months, despite what the media said about October’s sales.  Tne news media focused on the drop in real estate values for all of King County.  Median pricing in Kirkland followed King County,  dropping considerably this month, from $592,000 to $501,000.  But remember, these numbers are based on the sales that happened during October and is a function of what sold that particular month.  We’ll need to follow the next several months to see if there truly is a trend here.

There is some good news here to temper concerns about pricing:

1.    The eastside is in a better position, literally and figuratively, than many parts of King County.  It has a stronger economic base and a better location:

What you see emerging in our local market is an East/West corridor,” (Stan) Humphries (of Zillow) said, with houses holding their value in Eastside neighborhoods with good access to State Route 520 and Interstate 90 for an easy commute to work.

2.    Home prices are also becoming far more affordable.  Right now home values are the most affordable they’ve been in 17 years.   Home ownership may be cheaper than renting!

3.   This past month there was a big drop in the number of homes for sale. This drop is a very good thing as it decreases the competition among home sellers.

Slightly over 25% of the available homes sold last month.  A year ago, there were over 100 more homes on the market in Kirkland. 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 99 days to sell, just slightly over 3 months.

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 great Thanksgiving!

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How Strong Was the Kirkland, WA Real Estate Market in September, 2011?

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on October 11, 2011 at 3:44 pm
House Sales Data for Kirkland WA

Kirkland, WA Real Estate Sales Through September, 2011

The number of homes for sale in Kirkland continues to be fairly constant, although the number dropped a bit this past month.  I expect to see this number drop even more as we head to the end of the year.  (Hard to believe, but we are almost there!)

In September, 21% or 57 homes in Kirkland sold.

Homes on average were on the market for 87 days.

As we’ve seen most months, there were several home sales that did not stay together.   When I first reported the August home sales,  62 homes had sold.  Eight home sales failed, leaving 54 home sales intact in August.  This means 13% of the offers did not go through.   Sales can fall apart over the inspection, financing or simply because a buyer has cold feet.

Kirkland is one of the faster places for selling a home on the eastside. This is a testament to the city’s prime location close to jobs here in Kirkland with Google in the Houghton neighborhood of Kirkland.  Microsoft, is just down the road in Redmond, which is an easy commute for many people coming from Kirkland.

Image representing Google as depicted in Crunc...

Image via CrunchBase

Closeup of a stone sign bearing the Microsoft ...

Image via Wikipedia

The variety of housing stock and price ranges bring a huge mix of people to Kirkland. Plus, the ambiance of the city, with its access to Lake Washington, is a big draw for many people.

View from Carillon Point, Kirkland, Washington.

Image via Wikipediapeople.

How are real estate sales in your neighborhood?  Are they stronger than last year?

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Is Kirkland, WA Filled with Rich, Single People?

In Kirkland News, Kirkland WA, Kirkland, WA Real Estate on September 28, 2011 at 9:53 am

Kirkland made the news  because someone out there (CNN)  thinks it’s a great place to live if you’re young, single, rich, and maybe even famous.

I’m here to tell you that Kirkland is a great place to live for a lot of people, no matter whether they are rich, not rich, married or single.  You don’t have to be rich or single to live here and enjoy Kirkland.

Perhaps with the presence of a huge Google office and the games division of Microsoft, people feel Kirkland is filled with young singles.

If you drive around town, especially along Lake Washington Boulevard and by Marina Park, you’ll see people of all ages. Some are single and some are not.  Some have families and some don’t.  Stop by any of our parks and you’ll see singles, families, young kids, teens, young adults, and seniors hanging out and enjoying the day.  The boulevard is a popular place for people to stroll, some with baby carriages, some with pets, some in groups, and some by themselves.

So Kirkland is filled with people of all ages, not just the young and single.

People of all ages enjoying Kirkland

Having fun In Kirkland

Relaxing along Lake Washington Boulevard in Kirkland

Relaxing in the Park in Kirkland
Downtonw Kirkalnd on a sunny, summer's day

Enjoying Downtown Kirkland

What about being rich in Kirkland?  Sure there are waterfront properties, mega-mansions, and tony condos.  But there are condos and homes in Kirkland that start at $45,000 for a one bedroom, 1 bath in Kingsgate to a waterfront property priced at$7 million that’s subdividable into 4 lots, two of them being waterfront.  There is only one home priced above $5,000,000 and it really is several waterfront lots.

Kirkland is a wonderful place for a lot of reasons.  Many of the reasons it’s wonderful is because there is such a variety of people who live in the city, even if you’re single! What do you love about Kirkland?

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How Strong Were July, 2011 Real Estate Sales in Kirkland?

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on August 15, 2011 at 7:33 am
Real Estate Sales in Kirkland, WA

Kirkland Real Estate Sales Through July, 2011

Since March, the number of homes for sale in Kirkland hasn’t changed much, varying between 276-289 homes for sale. Sales numbers, however, have bounced around a bit with April looking like it’s the high for Kirkland real estate sales so far this year.  In July, 67 homes sold, which meant 23% or almost 1 in 4 homes got offers.

When I first reported June home sales, there were 57 homes that had sold.  Seven of these home sales failed, which means 13% of the offers did not go through.  This is not all that unusual on the eastside and in many areas these days.  In some areas of King County the failure rate for sales is much higher.   Sales can fall apart over the inspection, financing or simply because a buyer has cold feet.

On the flip side, interest rates are just fabulous, which should help spur some people to buy.

Conventional FNMA
30 yr fixed: 3.95%
15 yr fixed: 3.25%
10 yr fixed: 3.0%
5 yr ARM: 2.875%

Real estate is very location specific, so take the national news with a grain of salt.  Look more at local reports, and even city specific reports, such as this to find out what’s really happening with real estate.

How are real estate sales in your neighborhood?

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How Many Homes Sold in June in Kirkland, WA?

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on July 28, 2011 at 6:32 am
Real Estte Sales in Kirkland

Kirkland Real Estate Sales Through June 11

The number of Kirkland real estate sales has dropped from the high of 79 sales in April.  In June, 57 homes sold, which meant 20% or 1 in 5 homes  got offers.  Homes are selling, but it’s clear that with so many homes not selling, it’s only the best homes that are selling.  As I say every month, the home that is the best value against the competition is the one that wins the buyer.

As a reminder, national real estate statistics are exactly that.  They’re general statistics which give an overview of real estate in the country. An accurate measure of the market in Kirkland is to look at what’s happening in Kirkland.  The Seattle real estate market and even the Redmond real estate market, are not necessarily the same.  So looking at California or Spokane, as an example, doesn’t fit our local Kirkland market.

In June the median price of Kirkland homes dropped from $624,950 to  $535,000.

Since “one size real estate” does not fit all, it’s important to look at local real estate statistics.  Even in the Seattle area, there are vast differences among the various locales.

How are real estate sales in your neighborhood?

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Kirkland Highlands Real Estate News, 7-25-11

In Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate on July 25, 2011 at 9:10 pm

I wish I could say the reason I’ve not written a blog post recently about the bi-weekly real estate happenings in the Kirkland Highlands is that it’s been gorgeous weather and I’ve been having fun in the sun, but really it’s because I’ve been having fun selling homes this past month.  That’s good fun, too, but I must say I do miss the summer we usually have in the Seattle area.

The pace of the real estate market in Kirkland and Redmond has felt almost like it used to be, in 2007.  There are a lot of buyers out looking at homes.  Homes are selling well.  The pending sales in the Highlands all sold in under 2 months time, with one home selling in under a week.  The pending homes range in price from just under $400,000 to just under $1,000,000, reflecting the broad price range of Kirkland Highlands’ homes.

I’ve recently sold a couple of homes with multiple offers!  The level of activity in the real estate market feels good.

The real estate statistics below reflect the activity in The Kirkland Highlands for the past two weeks. All data is taken from the NWMLS through Monday of this week.


View Larger Map

The map shows most of the outline of Kirkland’s Highlands neighborhood. The map address is simply for a street corner in the middle of the Kirkland Highlands. For those not familiar with the neighborhood, it’s a pocket of unique homes close to downtown Kirkland. In some ways it feels like an island, because it’s separated on the east by 405, the south by Central Way (the main route to downtown) and the west and north by the BNSF corridor. The neighborhood has the best of both worlds, a little isolation without any through traffic, but just seconds from everything.

Numbers in parentheses are from the last report:

Active Listings: 17 (19)

New listings: 2 (2)

Pending inspection: 4 (2)

Pending: 4 (1)

Closed Sales:  2 (0)

Number of Price Reductions: 3  (2)

Price increase: 0 (0)

Homes off the market that did not sell: 2 (3)

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0-$349,999: 0 (1)

$350,000-$499,999: 11 (8)

$500,000-$749,999:  5  (7)

$750,000-$999,999: 1 (2)

$1,000,000- $1,499,999: 0 (1)

$1,500,000- $2,999,999: 0 (0)
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Most expensive home for sale: $795,000

Most affordable home for sale: $364,950

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Closed Sales: 

$377,000:  Final sales price $380,000: Last asking price $394,000: Original asking price.  Sold in 52 days for 5% below full price.

$460,000:  Final sales price $465,000: Last asking price $465,000: Original asking price.  Sold in 24 days for 1% below the original sales price.   **My listing**


KIRKLAND HIGHLANDS TOWN HOMES:

2  town homes for sale

***The Multiple Listing rules don’t allow comment on other members’ listings and sales besides data such as pricing and days on market.

Feel free to contact me if you have questions about how to position your home so you can get the best price when selling.

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Kirkland Highlands Real Estate News, 6-20-11

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on June 21, 2011 at 10:54 am

The past two weeks were quieter than about a month ago when there were 5 new listings on the market.  This week there are two new listings, there have been a few sales, and a few homes  came off the market as they had not sold.  Although there were sales this week, there were no sales that closed.  Since there have been more sales happening, I expect to see some closed sales in my next report.  Right now, the Highlands has a mix of some great homes for sale in price ranges from the low $300′s to over $1 million.  There’s something for everyone here as the Highlands has a wide variety of housing styles and prices.  The Highlands is located close to downtown Kirkland and has great access to the highway 405, so it’s a terrific location.

The real estate statistics below reflect the activity in The Kirkland Highlands for the past two weeks. All data is taken from the NWMLS through Monday of this week.


View Larger Map

The map shows most of the outline of Kirkland’s Highlands neighborhood. The map address is simply for a street corner in the middle of the Kirkland Highlands. For those not familiar with the neighborhood, it’s a pocket of unique homes close to downtown Kirkland. In some ways it feels like an island, because it’s separated on the east by 405, the south by Central Way (the main route to downtown) and the west and north by the BNSF corridor. The neighborhood has the best of both worlds, a little isolation without any through traffic, but just seconds from everything.

Numbers in parentheses are from the last report:

Active Listings: 19 (22)

New listings: 2 (5)

Pending inspection: 2 (0)

Pending: 1 (2)

Closed Sales:  0 (2)

Number of Price Reductions: 2  (2)

Price increase: 0 (0)

Homes off the market that did not sell: 3 (1)

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0-$349,999: 1 (1)

$350,000-$499,999: 8 (10)

$500,000-$749,999:  7 (8)

$750,000-$999,999: 2 (1)

$1,000,000- $1,499,999: 1 (2)

$1,500,000- $2,999,999: 0 (0)
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Most expensive home for sale: $1,300,000

Most affordable home for sale: $345,000

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Closed Sales: 

None this week.



KIRKLAND HIGHLANDS TOWN HOMES:

1  town home

***The Multiple Listing rules don’t allow comment on other members’ listings and sales besides data such as pricing and days on market.

Feel free to contact me if you have questions about how to position your home so you can get the best price when selling.

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