Debra Sinick

Weekly Real Estate Buzz in The Kirkland Highlands Through December 11th, 2008

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers, Weekly market update on December 11, 2008 at 11:32 pm

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

Active Listings: 27 (28)

New listings:    1 (0)

Re-listed properties:   0 (3)

Pending inspection:   0 (0)

Pending:   0 (0)

Closed Sales:    0 (0)

Contingent sale: 0 (0)

Number of Price Reductions: 2 (0)

Canceled listings  1 (2)

Expired Listings: 1 (1)

Temporarily Off Market:  0 (0)

Price increase:  0(0)

Back on market:  0 (0)

Rented: 0 (0)

Sale Fail: 0 (0)

———————————–

0-$349,999:  2  (2)

$350,000-$499,999: 5 (4)

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

$750,000-$999,999:  10 (10)

$1,000,000- $1,499,999:  1 (2)

$1,500,000- $2,999,999:   1 (1)
———————————–
Average Price: $720,377 ($737,823)

Median Price:   $687,000 ($719,475)

Average Days on Market: 131 (140)

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

Lowest Priced Listing: $305,000 ($325,000)

Kirkland real estate seems to be in a bit of a holding pattern.  The number of homes for sale has varied little over this past year, although home sales have fluctuated each month.  Suffice to say, the serious sellers are on the market now or they should be.  Inventory is far lower than it has been all fall.  Countywide real estate inventory is back to springtime 2008 levels, which is encouraging.

I look towards to things happening in the new year with a new “can-do” administration in The White House. The hope is some of the fear in the marketplace will dissolve and people will come back into the real estate market.

There’s a possibility interest rates will go well below 5% to 4.5% next year, which would be just terrific for home buyers, and subsequently, home sellers.  Several articles were posted about the possibility of the new interest rates. Not everyone is of the mind that the lower rates will work.  The Wall Street Journal’s take on the possible new rate, according to June Fletcher, is that the rates will not work.

The Housing Wire, a real estate blog, also voiced their opinion about the projected interest rates.

Last, but not least, NPR had a story on the new rates.

IMHO, more people need to feel confident in the economy to make a move.

Townhomes/condos

1 Active town home listed

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