Latest Kirkland Highlands Real Estate Buzz, July 12, 2010

There’s been real estate activity the last few weeks in the Kirkland Highlands, but it was interesting to see that most of the activity centered around “bank-owned” properties, homes that had been foreclosed on and had gone back to the bank.  One new listing, 3 new construction homes that are back on the market, another home that’s back on the market, and one of the recent pending homes are all bank owned.  It’s quite a bit of activity in the neighborhood and, ironically, most of it is for bank owned properties.

I had mentioned in my previous post new construction homes that are taken off the market usually come back on the market and this has been the case here, too.  One of the pending sales is for a home that is priced above $1.2 million.  It’s great to see some activity above the $1 million dollar range.  There were no home sales that closed over the last two weeks.

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 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 corridor. 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: 23 (22)

New listings: 2 (5)

Pending inspection: 1 (4)

Pending: 3 (1)

Closed Sales: 0 (1)

Number of Price Reductions: 2  (2)

Price increase: 0(0)

Homes off the market that did not sell: 2 (9)

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0-$349,999: 0 (0)

$350,000-$499,999: 8 (12)

$500,000-$749,999:  12 (8)

$750,000-$999,999: 1 (1)

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

$1,500,000- $2,999,999: 0 (0)
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Average Price of homes for sale: N/A with new MLS system*

Median Price of homes for sale: N/A wiht new MLS system

Average Days on Market:  N/A

Highest Priced Listing: $1,375,000 ($1,375,000)

Lowest Priced Listing: $360,000 ($365,000)

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Closed Sales:

Sales price: $480,000 Last asking price: $499,950 Original asking price: $739,950, sold in days for 36% below the original asking price.  (Bank owned property)

KIRKLAND HIGHLANDS TOWN HOMES:

5 town homes for sale

2 new town home listings

Peak in the number of King County homes and condos for sale in 2009:

7-27-09  13,861

Start of 2010:

9,726

Now:

7-12-10 14,235   This is the highest number of homes in King County so far.  Are we at the top in homes for sale?

* The statistics portion of the new NWMLS (Northwest Multiple Listing Service) is currently not working.  Our new system is having the kinks worked out.  Stay tuned!