Debra Sinick

What Were The Odds of Selling Your Kirkland Home in December, 2009?

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics on January 14, 2010 at 12:28 pm

Kirkland Real Estate Sales, Dec 2009

December, 2009    321 homes for sale         49 homes sales                      15% odds of selling a home.

November, 2009   371 homes for sale          54 (now 49) home sales      15 (now 13)% odds of selling a home.*

December, 2008   421 homes for sale          19 homes sold                        4.5% odds of selling a home.

*(Reflects the revised percentage of homes sold because some home sales failed.)

If you click on the link, you’ll see the MLS charts which show the real estate trends, including median price, for the past five years in Kirkland.

The odds of selling is another way to characterize the “absorption rate” in which we take the number of homes sold in a particular month and divide it by the number of homes on the market. This number tells us what the odds are that a home will sell.

The median price in Kirkland dropped from $694,450 to $491,000, a 29% drop in value.  However, the number of Kirkland home sales held fairly steady over the last 4 months.

The number of sales increased by 136% from December, 2008! More buyers felt it was safe to buy a home.

A few quick facts from 2009 Kirkland real estate:

  • Month with the most number of homes to sell: January
  • Month with the least number of homes to sell: December
  • Month with the most home sales: August
  • Month with the least home sales: March

The real estate market in Kirkland is so much stronger than it was in 2008 and the first part of 2009.  The good news for Kirkland is the year ended on a positive note.  Fewer homes are on the market and more homes are now selling, although prices are down.    On Seattle’s eastside the number of homes for sale is the lowest number we’ve seen since March, 2007.

I am hopeful the 2010 home buyer tax credit, which now includes most buyers, will continue the positive trend in Kirkland real estate sales, particularly through the first quarter of 2010.

For the complete picture of home sales on Seattle’s eastside, check out my eastside blog post.

What are your thoughts about the Kirkland real estate market in 2009?


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: