Debra Sinick

Archive for the ‘Real estate’ Category

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Kirkland Real Estate is Still Hopping!

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on May 15, 2012 at 5:19 pm
Kirkland WA Real Estate

Kirkland Real Estate Sales Through April, 2012

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!

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A Fabulous Real Estate Market in Kirkland, WA

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on April 19, 2012 at 3:40 pm
Real Estate in Kirkland, WA

Kirkland Real Estate Sales Through March 2012

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.

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Kirkland Real Estate Was Booming in February, 2012

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate on March 23, 2012 at 1:48 pm
Real Estate Sales in Kirkland WA

Kirkland Real Estate Sales Through Feb, 2012

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.

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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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Kirkland Real Estate Sales Were Still Going Strong in August, 2011

In buyers, Kirkland WA, market statistics, Real estate, sellers on September 19, 2011 at 1:50 pm
Kirkland Home Sales

Kirkland Real Estate Sales Through August, 2011

Fortunately for those Kirkland home owners trying to sell a home this year, there has not been a huge increase in the competition.  Since March between 276-287 homes have been for sale each month.  Sales are still fairly steady, which means if your home has been on the market for a while, it probably is priced too high for the market.  In August,  62 homes or 22% sold.

Most homes on average were on the market for 95 days.

Several of the home sales that happened in July, fell apart in August with these homes coming back on the market.  When I first reported July home sales, there were 67 homes that had sold.  Nine of these home sales failed, which means 14% 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.

It was great to see the news media finally supporting the positive real estate market we’ve been having for most of this year.  Our boom years began in 2003, but the years 1998-2002 real estate on Seattle’s eastside were nice and steady.  Our market is beating those nice and steady years.  The 2011 sales were up by 35% from last year with 22% fewer homes on the market, very positive, realistic news.

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

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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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