Happy New Year, 2010! We start the new year all over Seattle’s eastside with the lowest number of homes and condos on the market since mid 2007.  There are less than 10,000 single family homes and condos on the market today (literally) in King County.  The last time we saw such numbers was in June, 2007.  The Kirkland Highlands is following this pattern, as only 20 homes are on the market right now in the neighborhood.

The homes currently for sale fall between $350-$900,000.  The high end and the very low end of the price range in the Highlands is not represented in the marketplace right now.

With the extension of the home buyer tax credit and the lower numbers of homes for sale, if you’re going to sell your home, get started now, rather than later in 2010.  I anticipate more homes coming on the market as we head towards spring and spring is really not that far away.

The real estate statistics below reflect the activity in The Kirkland Highlands since December 16th, 2009. There are three weeks of information included in the numbers below.  All data is taken from the NWMLS through Monday of this week.

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 railroad tracks. 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: 20 (22)

New listings: 2 (0)

Pending inspection: 4 (2)

Pending: 3 (0)

Closed Sales: 0 (1)

Number of Price Reductions: 1  (1)

Price increase: 0(0)

Homes off the market that did not sell: 8 (1)

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0-$349,999: 0 (1)

$350,000-$499,999: 6 (6)

$500,000-$749,999:  7 (8)

$750,000-$999,999: 7 (7)

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

$1,500,000- $2,999,999: 0 (0)
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Average Price of homes for sale: $662,819($662,601)

Median Price of homes for sale: $709,470 ($699,990)

Average Days on Market:  65  (132)

Highest Priced Listing: $899,950 ($1,150,000)

Lowest Priced Listing: $369,950 ($299,000)

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Closed Sales:

None in the last three weeks.

The number of homes for sale starts off at a lower point as there are about one third less homes for sale in The Kirkland Highlands than the peak of 2009.  This is good news.

Eight home sellers took their homes off the market in the last three weeks helping market time to drop in half.  Many of these homes had been on the market for a long time, so with the homes off the market, the time to sell a home dropped by 50%.

7-27-09  13,861

Now:

1-4-09  9726

****The smallest number of homes and condos for sale since the summer of 2007!****

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4 Town homes on the market

1 town home sold

The number of homes for sale on Seattle’s eastside, 2943, is the lowest we’ve seen since the spring of 2007.  March, 2007 was the last time the number of homes for sale on the eastside was under 3000!    With the extension of the home buyer tax credit and the lower numbers of homes for sale, if you’re going to sell your home, get started now, rather than later in 2010.

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.

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 railroad tracks. 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: 22 (22)

New listings: 0 (0)

Pending inspection: 2 (0)

Pending: 0 (0)

Closed Sales: 1 (1)

Number of Price Reductions: 1  (1)

Price increase: 0(0)

Homes off the market that did not sell: 1 (2)

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0-$349,999: 1 (1)

$350,000-$499,999: 6 (6)

$500,000-$749,999:  7 (8)

$750,000-$999,999: 7 (7)

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

$1,500,000- $2,999,999: 0 (0)
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Average Price of homes for sale: $662,601($667,906)

Median Price of homes for sale: $699,990 ($699,990)

Average Days on Market:  132 (137)

Highest Priced Listing: $1,150,000 ($1,250,000)

Lowest Priced Listing: $299,000 ($285,000)

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Closed Sales:

$1,070,000, last asking price $1,225,000, original asking price $1,749,900, sold in 313 days for 39% below the original asking price.

7-27-09  13,861

Now:

12-14-09 11,335

****The smallest number of homes and condos for sale all year!****

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5 Town homes on the market

1 pending town home sale