Debra Sinick

Kirkland Highlands Real Estate News, 2-14-11

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on February 15, 2011 at 6:59 am

There haven’t been a lot of homes for sale in the Kirkland Highlands since the beginning of this year. The trend continues as only 16 homes are now for sale.  All of the homes are priced below $750,000, which is also unusual.

The one recent closed sale was for $1,040,000,  the first million+ sale in a while.  Ironically, in my last post on weekly stats, I mentioned a home had sold for $163,000,at the opposite end of the pricing spectrum.  This sale was by far the lowest sale in the neighborhood, possibly within the last decade!  It was unusual as it was a bank owned property that was almost gutted.  There aren’t many homes in comparable shape in the Highlands, so I suspect this will be the lowest priced home sale will see possibly for the next decade.

Most of the homes that have recently received offers were sold within a short amount of time.  Buyers are starting to get off the fence and will buy those homes that are looking good and great values. These are the homes that sell quickly.  The other homes just sit on the market and go through several price reductions before selling.

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: 16 (14)

New listings: 3 (0)

Pending inspection: 1 (1)

Pending: 2 (0)

Closed Sales: 1 (3)

Number of Price Reductions: 2  (2)

Price increase: 0 (0)

Homes off the market that did not sell: 1 (2)

———————————–

0-$349,999: 3 (4)

$350,000-$499,999: 9 (7)

$500,000-$749,999:  4 (3)

$750,000-$999,999: 0 (0)

$1,000,000- $1,499,999: 0 (0)

$1,500,000- $2,999,999: 0 (0)
———————————–

________________________________

Closed Sales:

$1,040,000  final sales price,  $1,150,000 last asking price, $1,950,000 original asking price, sold in 342 days for 47% below the original asking price.

KIRKLAND HIGHLANDS TOWN HOMES:

2 town homes for sale

1 is now pending

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

7-27-09  13,861

Start of 2010:

9,726

Peak in 2010:

7-26 14,639

Start of 2011:

1-3-11  10,008

2-14-11  10,530

If you plan to sell your home in 2011, don’t wait until July because that’s when you’ll have the most competition.

***The Multiple Listing rules don’t allow comment on other members’ listings and sales besides data such as pricing and days on market.

Feel free to contact me if you have questions about how to position your home so you can get the best price when selling.

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