Debra Sinick

Weekly Real Estate Buzz in The Kirkland Highlands Through March 19th, 2009

In buyers, Kirkland WA, market statistics, sellers, Weekly market update on March 19, 2009 at 3:05 pm

The real estate statistics below reflect the real estate activity in The Kirkland Highlands for the past week and all data is taken from the NWMLS through Thursday morning each 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.

Active Listings: 28 (27)

New listings: 0 (2)

Re-listed properties:  8 (0)

Pending inspection: 0 (0)

Pending: 2 (1)

Closed Sales: 0 (0)

Contingent sale: 0 (0)

Number of Price Reductions: 3 (1)

Canceled listings 8 (0)

Expired Listings: 0 (0)

Temporarily Off Market: 0 (0)

Price increase: 0(0)

Back on market: 1 (0)

Rented: 0 (0)

Sale Fail: 0 (0)

———————————–

0-$349,999: 3 (3)

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

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

$750,000-$999,999: 9 (8)

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

$1,500,000- $2,999,999: 1 (1)
———————————–
Average Price of homes for sale: $696,968 ($698,726)

Median Price of homes for sale: $644,000 ($725,000)

Average Days on Market: 113 (168)

Highest Priced Listing: $1,795,000 ($1,795,000)

Lowest Priced Listing: $274,950 ($274,950)

Townhomes/condos

2 Active town homes listed

One new listing

The median price for the Kirkland Highlands dropped dramatically this week because one home for sale was re-listed at $350,000 less than its previous asking price.  The home is now a short sale and is priced more aggressively than it had been in the past.  I’ve noticed a few more short sales on the market in the Highlands over the last few weeks.  What is a short sale?  Short sales are homes which are on the market for less  than what is owed to the bank. Home sellers will need bank approval when accepting an offers.

A number of homes for sale were briefly taken off the market and were re-listed as new listings this week.  Most of them are new construction homes.  These listings are not reduced in price, although they have been quite a bit over time, however, the builder is now offering special financing of 4.25% for thirty years.  Builders are becoming more creative with the financing they can find and offer to their buyers.

Two homes received offers this week and are now pending.  This means the offer was accepted and the building inspection was also completed.  There were no closed sales this week.

Interest rates remain at fabulous levels.  Bloomberg News had an interesting article about how our interest rates are down to the levels found during WWII.

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