Weekly Real Estate Buzz in The Kirkland Highlands Through November 20th, 2008

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

Active Listings: 31 (30)

New listings:    1 (0)

Re-listed properties:   0 (0)

Pending inspection:   0 (0)

Pending:   0 (0)

Closed Sales:    1 (0)

Contingent sale: 0 (0)

Number of Price Reductions: 0 (0)

Cancelled listings  0 (0)

Expired Listings: 0 (0)

Temporarily Off Market:  0 (0)

Price increase:  0(0)

Back on market:  0 (0)

Rented: 0 (0)

Sale Fail: 1 (0)

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0-$349,999:  1  (1)

$350,000-$499,999: 7 (6)

$500,000-$749,999: 10 (10)

$750,000-$999,999:  10 (10)

$1,000,000- $1,499,999:  2 (2)

$1,500,000- $2,999,999:   1 (1)
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Average Price: $712,772 ($720,032)

Median Price:   $669,000 ($684,000)

Average Days on Market: 129 (126)

Highest Priced Listing: $1,599,000 ($1,599,000)

Lowest Priced Listing: $325,000 ($325,000)

Here’s what happened this past week in Kirkland Highlands real estate. One new listing popped up.  It’s a rambler with a remodeled kitchen and is priced at $495,000.  The sale for one of the new construction homes in the neighborhood “failed” as we say in real estate lingo.  Usually a sale fails over the financing.  Since this home is new construction, I anticipate it coming back on the market.

The closed sale this week is for a home that was only a few years old.  The original asking price was $1,200,000, the last asking price was $850,000 and the final sales price was $850,000. The home was on the market for slightly over 200 days.  The seller had to get really aggressive to beat all the other competition in this price range in Kirkland, not just the Highlands, with a fabulous price.  This home is a great one and showed beautifully, but experienced what I reported going on in Kirkland’s real estate in my last weekly real estate buzz:

” Kirkland homes, in general, are taking a longer time to sell than some other eastside areas.  This may be because we have a lot of homes priced in the million dollar range that have been built over the last decade and are now for sale.   Right now, out of approximately 500 homes for sale south of NE 116th in Kirkland, 200 are priced over $1million with the majority of these between $1-2million.  This is not to say all homes for sale are over a million dollars, just that there are a high number of such homes on the market in Kirkland.”

Townhomes/condos

1 Active town home listed

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Because of the Thanksgiving holiday, I will take a holiday from reporting the weekly statistics next week.  Have a great Thanksgiving!

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