Kirkland Highlands Real Estate Buzz

(Numbers in parentheses are for last week’s data.  This week’s data is reported through Thursday each week.)

Active Listings:  31 (22)

New listings:  4 (5)

Re-listed properties:  0 (1)

Pending inspection: 1 (2) 

Pending:  1 (0)

Closed Sales:   0 (5)

Contingent sale: 0(0)

Number of Price Reductions:2 (1)

Cancelled listings 0 (1)

Expired Listings:1 (1)

Temporarily Off Market:  0(0)

Price increase:  0(0)

Back on market: 0 (0)

———————————–

0-$349,999:   0(0)

$350,000-$499,999: 7 (5)

$500,000-$749,999:    6 (6)

$750,000-$999,999:  8 (9)

$1,000,000- $1,499,999:  6 (5)

$1,500,000- $2,999,999:   4 (4)
———————————–
Average Price: $889,000 ($847,983)

Median Price:   $869,000($869,000)

Average Days on Market: 82(82)

Highest Priced Listing: $2,299,000($2,299,000)

Lowest Priced Listing: $362,500 ($362,500)

There were no closed sales this week in the Highlands, but there’s a home that just received an offer and another home that is now pending.

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Town homes/condos:

4 Active town home/condo listings

No other town home/condo activity

Ok. second year in a row with a big, beautiful boat slip, but no boat.  So this year again, we will watch the fireworks in downtown Kirkland from the dock.  We’ll have a front seat for the fireworks show.  It ought to be beautiful and a gorgeous end to a nice day.

Here’s what’s happening in Kirkland on the Fourth of July: Check out the Celebrate Kirkland website to get all the latest about the morning parade, picnics at the beach, and the fireworks display at night.  There’s something for everyone.

Have a great holiday!  Oh by the way, cross your fingers for me.  I may have a boat to put in this boat slip next week.  It’s only taken a year!

The Seattle Times reported today that King County has agreed to the keep the BNSF rail line in the public domain.  A trail could (the operative word being could) be on the rail line sometime in the near future.  However, all that is to be decided in the future. 

Keith Ervin reports in The Times article:

“Port and county officials said the deal upholds the concept of “dual use” of the 42-mile corridor by rail commuters and trail users on foot or on bike. But many details wouldn’t be decided for months or years, and there is no assurance that either a trail or passenger trains would be a reality in the near future.”

The first step has been passed with county agreeing to the three way deal with the Port of Seattle and BNSF rail line.  The deal between the three must be signed by May 15th or there will be a huge financial penalty.

National Public Radio also had a story reporting on the latest update.  Check out this link to hear Liam Moriarty’s piece on the latest rail/trail news.

Much still needs to be decided and hashed out over whether there will be a trail or a commuter line or both.  There will be public hearings in which you can voice your opinion.  You can also contact King County Council Members and make your opinions known.

The Eastside Trail Advocates are holding a meeting on Thursday, May 8th at 7 PM at the Houghton Fire Station meeting room.  The address is 6602 108th Ave NE, Kirkland, WA 98033.  This meeting will be a great opportunity to hear about the issues.

This blog was moved from eblogger to wordpress in order to create better tags, links, and an easier platform to work from.  As we all know, most “remodeling” jobs take a bit longer than expected.  I plan to publish articles during this time, however, I’m also working on the finer points of blog presentation, tagging, yada yada yada (thank you, Elaine)

Welcome to Kirkland Highlands Real Estate Buzz on WordPress. I’ve moved my blog from blogger. Over the next few days, I will add in  links that will be helpful to you and organize the previous posts into separate tag headings so you can navigate past posts more easily by topic.

Remarks in red show last week’s activity

New listings: 0 (1)

Active Listings: 18 (20)

Sold subject to inspection: 0 (0)

Pending: 0 (1 at $579,000)

Closed Sales: 1 at $750,000 (1 at $759,000)

Number of Price Reductions: 1 (0)
———————————–
Number of homes available: 18 (20)

0-$349,999: 0 (0)

$350,000-$499,999: 2 (1)

$500,000-$749,999: 7 (9)

$750,000-$999,999: 6 (6)

$1,000,000- $1,499,999: 2 (3)

$1,500,000- $2,999,999: 1 (1)
———————————–
Average Price: $717,808 ($792,087)

Median Price: $639,990 ($750,000)

Average Days on Market: 62 (67)

Highest Priced Listing: $1,895,000 (same)

Lowest Priced Listing: $419,000 (same)

(data from NWMLS)

My analysis of this week’s real estate buzz: There’s been little change in the activity since last week. There are two less listings on the market now. One listing expired and is has been rented. The expired listing was priced at $570,000 and was on the market for 250 days, which is an usually long time in any market. The rental had been priced at $1,149,000. In the last two weeks there has been one sale in the Highlands. A home sale did close last week at $750,000. The home was a newer style two story that had been on the market for two months.

Ler me know if you would like other information or if you have any comments.

At 11 AM this morning stop by Peter Kirk to get your child’s classroom assignment as the new classroom lists will be posted. At the same time, you can meet your child’s teacher. From 11 AM to 12 noon, parents and children can meet the new teachers at Peter Kirk Elementary.

***Don’t forget to provide a family email address to the teacher on the first day of school.

To find out more about Peter Kirk Elementary, check out this link.

Peter Kirk Elementary
1312 6th St.
425-822-7449

The Highlands weekly real estate buzz for the week of August 17-24

New listings: 1

Active Listings: 20

Sold subject to inspection: none

Pending: 1 at $579,000

Closed Sales: 1 sold at $759,000, asking price was $765,000

Price Reductions: none
———————————–
Number of homes available: 20

$350,000-$499,999: 1

$500,000-$749.999: 9

$750,000-$999,999: 6

$1,000,000- $1,499,999: 3

$1,500,000- $2,999,999: 1
———————————–
Average Price: $792,087

Median Price: $694,995

Average Days on Market: 67

Highest Priced Listing: $1,895,000

Lowest Priced Listing: $419,000

The number of homes on the market remained the same as last week’s total with 20 homes for sale. There was one new listing and one home that went pending, keeping the total of active listings to 20. This week’s new listing is the least expensive property in the neighborhood priced at $419,000. Although there is a home on the property, the price is based on the value of the land, not the home. (This report is based on inventory at 10:30 AM, August 24th,2007)

Let me know if you have any questions or comments about the market performance. I am happy to answer them,

Sellers had a 22% chance of selling a home, DOWN slightly from 23% last month and DOWN slightly from 25% last year.
(Information obtained from MLS and Windermere data and are for pending, not closed sales.)

Median price climbed by 15.8% to $757,475 from $654,250. Inventory is up by about 21%.

Kirkland started the year off with 278 homes for sale in January and in July there 366 homes on the market.

January, 278 homes listed
February, 275 homes listed
March 290 homes listed
April, 305 homes listed
May, 341 homes listed
June, 383 homes listed
July, 366 homes listed

Month with most homes on the market? June.

The peak of sales activity, the best month to sell, so far this year? The month of May, when 31% of the homes sold. With the increase in inventory brought on in June, the percentage of sales dropped by 10% to 21% in June and to 22% in July. Competition to get sold increased dramatically with the increase in inventory.

The peak of the inventory, thus far, was in June. Will this be the peak of the inventory for single family homes this year? Stayed tuned!