Debra Sinick

Posts Tagged ‘Homes for sale’

Kirkland Real Estate Is Booming!

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate, sellers on November 7, 2012 at 6:24 pm
Kirkland Home Sales

Kirkland Real Estate Sales Through October 2012

Kirkland Real Estate is looking really good!  Real estate statistics are trending in the right direction.  In October, fewer homes were on the market and more homes sold.  There were 85 home sales, the most for any month this year.  This is phenomenal!  In fact, 62% of the homes for sale, sold in October.  This is the highest monthly percentage in 2012, far surpassing any month.

With the high sales numbers and the low inventory, it’s the best time to sell a Seattle eastside home in the last 15 years!  This October had the highest pending sales with 1,202 homes selling.  Typically, 867 homes sell in October, which means this October’s sales were 39% higher than the 15 year average.

With 1821 homes for sale, we had the lowest number of Seattle eastside listings in last 15 years and 45% less than last October!

This same positive real estate theme carries over into Kirkland real estate.  There were higher sales than usual and fewer homes were for sale. Buyers were out there, demanding good, well priced homes.

Make no mistake, just because the market is strong, buyers will not overpay for a house.  It’s just not happening.  Buyers will wait for a new listing to come on the market rather than pursue an overpriced home.  The homes that show well, are move-in ready, and priced right are the homes that sell.

Thirty-eight percent of the homes for sale in Kirkland did not sell.  More than likely, these homes were not priced right or did not show well.  These 38% of the sellers need to do some soul searching and take a hard look at the market statistics.  If a home is sitting on the market and not selling, reprice it for the market or expect to see a “for sale” sign in your yard, but not a “sold” sign.

With the low inventory, think about selling your home during the holidays, rather than waiting until after the first of the year.  The real estate market, with these fabulous numbers, will be on your side.

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How Much Have Real Estate Prices Gone Up in Kirkland, WA?

In buyers, Kirkland News, Kirkland WA, Kirkland, WA Real Estate, Real estate, sellers on August 17, 2012 at 9:56 pm

Kirkland Real Estate Sales Through July, 2012

Yes, it’s true what you hear, real estate sales are still strong in Kirkland, WA.  Eighty-seven homes sold in July and 88 sold in June.  The difference in July was there were slightly more homes on the market, 19 to be exact.  With the increase in the number of homes for sale, the odds of selling a home in Kirkland dropped to 40%.  In June 49% of the homes sold.  Still the odds of selling this whole year have been terrific.  In July of 2011, sellers only had a 21% chance of selling, because there were so many more homes for sale.

It took on average 67 days for a home to sell and homes sold within 96% of the original asking price.  Median pricing in July was up to $578,000 from $528,000 in July, 2011.   This sounds great, and it is, but it gets confusing when you look at June statistics.   The median price was $615,000 for the homes sold in June.  It looks as if pricing dropped a lot, but it did not drop precipitously from June to July.  The reality is we are par with last year’s pricing so far this year in Kirkland.  Pricing can vary up or down from month to month, so it’s important to look at a 6 month trend to determine where prices truly are at.  I wrote a post which explains the median pricing for the eastside.

So the answer to the question:  How much have home prices gone up in Kirkland, WA? The reality is we are on par with last year’s pricing so far this year in Kirkland.

If you’d like to find out more about the Kirkland real estate market, don’t hesitate to call or email us.  It’s important to put your home in the percent of homes that have sold, not in the percent that did not.

A Great Seller’s Market in Kirkland

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate on July 23, 2012 at 4:43 pm
Kirkland Real Estate

Kirkland Real Estate Sales Through June, 2012

Fifty-three percent of the homes for sale in Kirkland in June sold that month.   The number of sales jumped up even though more homes came on the market.  Nine more homes came on the market in June, while there were 20 more sales.  The scales are tipped in favor of the seller right now.

It took on average 71 days for a home to sell and homes sold within 97% of the original asking price. Homes were on the market for just over two months and sold within 3% of asking price.  Median pricing was up from $588,000 to $615,000 this June.    Median pricing increased in May, 2011 but median pricing was actually down in April. Pricing can vary up or down from month to month, so it’s important to look at a 6 month trend to determine where prices truly are at.

If you’d like to find out more about the Kirkland real estate market, don’t hesitate to call or email us.  It’s important to put your home in the percent of homes that have sold, not in the percent that did not.

It’s Great To Be a Seller in Kirkland Washington Right Now!

In Uncategorized on June 21, 2012 at 3:22 pm
Home Sales in Kirkland, WA

Kirkland Real Estate Sales Through May, 2012

Forty-five percent of the homes for sale in Kirkland in May sold that month.  Think about it, almost half of the homes for sale sold!  The odds of selling a home are very strong because the supply is lower than is usual at this time of year.  There were 19 more homes for sale last month than in April, but more homes actually sold in May than in April.  March has been the best month to sell a home in Kirkland so far this year when 60% of the available homes sold that month.  I would be surprised if we duplicate that again this year, but the reality is the odds of selling are still very high.

In Kirkland, 45% of the homes sold in May.  It took on average 79 days for a home to sell and homes sold within 93% of the original asking price. The 79 days is considered a shorter average time to sell.  Median pricing was UP from May, 2011.  This year the median price for the homes sold in May was $617,000.  Last year, the median price of the May sales was $548,000.  Remember, the median price reflects only what sold during the month of May.  Prices are up a bit at this point, but the reality is the median price for May includes homes that sold at a higher price point than in May, 2011.  It is important to look at a 6 month trend to determine where prices truly are at.

Fifty-five percent of the homes did not sell, so just putting your home on the market does not guarantee a sale.  The most important component to successfully selling your home is to price it right according to what is current market value.  Just because the market is stronger, it does not mean that an overpriced home will sell.  Remember the 55% I just mentioned?

If you’d like to find out more about the Kirkland real estate market, don’t hesitate to call or email us.  Have a great month and let’s hope that we actually have a summer since the calendar tells us summer is here.

Kirkland Real Estate Was Booming in February, 2012

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, Real estate on March 23, 2012 at 1:48 pm
Real Estate Sales in Kirkland WA

Kirkland Real Estate Sales Through Feb, 2012

Wow, this is the most exciting real estate market Kirkland has experienced in 5 years!  Almost half of all the homes for sale in February got offers and sold!  That’s an incredible statistics, for any real estate market.

Why is the Kirkland real estate market so hot?  Well, for one thing, if you look at the graph above, it’s easy to see that there aren’t many homes for sale right now. Through most of the summer months in 2011,  the number of homes for sale was double what we have in Kirkland now.  This increased competition among home sellers.  Secondly, buyers are far more positive than they’ve been for years.  Buyers feel good about making an offer for a home now.  Finally, interest rates have crept up slightly, which can also spur buyers to literally make the move.

In Kirkland, 48% of the homes sold in February, compared to only 19% in 2011.  It took on average 98 days for a home to sell and homes sold within 95% of the original asking price.  Median pricing is down from February, 2011.  This year the median price for the homes that sold was $442,000.

I can truly say this is the best to sell a home that we’ve seen in the Seattle and Kirkland area since early 2007.   Sellers do need to remember, though, selling a home in today’s real estate market it must be at today’s pricing.

How Was Kirkland, WA Real Estate in January, 2012?

In buyers, Kirkland WA, Kirkland, WA Real Estate, market statistics, sellers on February 17, 2012 at 11:06 am
Home Sales in Kirkland, WA

Kirkland Real Estate Sales Through January, 2012

There were only 155 homes for sale in Kirkland in January.  It’s easy to see from the chart that this number means there aren’t a lot of homes for sale in Kirkland right now.  The lack of supply should enhance the prospects for those sellers whose homes are priced right and show well.  The good homes should sell more quickly this year.

In January, 26.5% of the supply of homes sold, which is similar to the high percentage of sales in the April and May of last year.  Not as many homes actually sold in January, but not as many homes were on the market either. 

Median pricing in Kirkland went from $534,000 to $522,000.  Median pricing is based on the sales that happened in January and is a result of what sold that particular month.   On average, it took only 62 days for the homes to sell last month and most homes sold within   % of the original asking price.

We’re excited to see how this real estate market will turn out this year.  It should be the best Kirkland real estate market in 5 years, but don’t expect prices to go up by much, if anything.

If you would like information about your home, please contact Brooks or me and we’re happy to help you.

What were the Chances of a Home Selling in Kirkland, WA in November, 2007?

In buyers, Kirkland News, market statistics, Real estate, sellers on December 17, 2007 at 6:52 pm

Sellers had a 10.8% chance of selling a home in Kirkland in November, 2007.

(See the chart above to show the last four year’s activity.  The chart shows numbers for all of Kirkland, south of NE 116th St)

November 2007   405 homes for sale, 44 sales, 10.8% chance of selling.

October 2007        424 homes for sale,  48 sales, 11% chance of selling.

November 2006   316 homes for sale,   57 sales, 18% chance of selling. 

The chances of selling a home in Kirkland has changed little over the last three months.  Forty-four homes sold in November, 48 in October, and 40 in September.  The dip in Kirkland’s 2007 market is actually less than other areas of the Eastside.  In November of last year, 18% of the homes sold here whereas in other areas 20-40+% of the homes were selling.  Thirteen less homes sold this November than last November. In this sense, Kirkland’s market has been less volatile. 

Inventory has decreased by 19 homes since last month. However, inventory is up by 28% from last year. This is certainly a larger number than last November, however, in other Eastside neighborhoods available inventory has skyrocketed.  West Bellevue has 75% more homes available.  The areas around Microsoft have almost 88% more homes on the market this November.

Despite the slightly tougher market, Kirkland’s  median pricing is still up by about 3% to $689,975.

There are 257 less homes on the market this month, which is a typical seasonal trend.

 Bottom line in Kirkland is the market has not changed as drastically here as it has in other areas.  There are some great properties out there.  The selection of homes is just wonderful.   A new home, what a nice Christmas present!

For a report on the Eastside’s November performance, you can check this post out.

Weekly Real Estate Buzz in The Kirkland Highlands through November 30th, 2007

In market statistics, Real estate, Weekly market update on November 30, 2007 at 4:39 pm

update-post-it.pngNumbers in red reflect last week’s totals. New totals are through mid-afternoon on Friday, the 30th, and are collected from MWMLS data.

New listings:  2(1) 

Active Listings:   28(27)

Sold subject to inspection:  2(0)

Pending:  0(0)

Closed Sales:   0(0)

Contingent sale: 0(1)

Number of Price Reductions:  3(2)

Cancelled listings 0(0)

Expired Listings 0 (1)

———————————–
Number of homes available:    28(27)

0-$349,999:   0(0)

$350,000-$499,999:   1(2)

$500,000-$749,999:    8(5)

$750,000-$999,999:   10(11)

$1,000,000- $1,499,999:   5(5)

$1,500,000- $2,999,999:   4(4)
———————————–
Average Price: $989,906 ($1,006,791)
Median Price:   $871,050 ($853,050)

Average Days on Market: 71(64)

Highest Priced Listing: $2,299,950 ($2,299,950)

Lowest Priced Listing: $460,000($460,000)

(data from NWMLS)

My analysis of this week’s real estate buzz:

The numbers for this week are very similar to two weeks ago, the Friday before Thanksgiving.  Most of the numbers have changed very little, with the exception of the two homes that received offers over the past two weeks and are now sold subject to inspection. These homes receiving offers had undergone price reductions before selling.  One home was priced at $499,950 and was reduced  by $25,000, 5%, before receiving an offer.  The other home was originally priced in the low 800’s, reduced its price 6%, and then sold. 

 The number of homes available from $500-750,000 increased by 3 homes. Two of the homes in this price range are the two new listings and the other is a price reduction.

The town home data is the same as last week as there are no changes in the homes listed. 

Weekly Real Estate Buzz in The Kirkland Highlands through October 5th, 2007

In market statistics, Weekly market update on October 6, 2007 at 7:04 am

update-post-it.PNGNumbers in red reflect last week’s totals.

New listings: 2 (2)

Active Listings:    21(22)

Sold subject to inspection:  1(0)

Pending:  0(0)

Closed Sales:  0 (2)

Number of Price Reductions:  1(1)
———————————–
Number of homes available:    21(22)

0-$349,999:   0(0)

$350,000-$499,999:   4(7)

$500,000-$749,999:    6(6)

$750,000-$999,999:   5(4)

$1,000,000- $1,499,999:   4(3)

$1,500,000- $2,999,999:   2(2)
———————————–
Average Price: $880,035 ($676,483)
Median Price:   $750,000 ($587,495)

Average Days on Market: 68 (66)

Highest Priced Listing: $1,825,000 (same)

Lowest Priced Listing: $435,000($399,950)

(data from NWMLS)

My analysis of this week’s real estate buzz:

 We have a sale!  The home that received an offer had originally been listed for $509,950, but ultimately was relisted as a new listing with a price of $479,950.  It received an offer at this new price.  The home for sale in the same cul-de-sac has this week’s reduced price with  a drop of $25,000 from $499,950 to $475,000. The new listings that came on the market were priced in the low 800’s and about $1,5 million.  The listing priced at $399,950, which represented lot value, is no longer on the market.

The median and average prices for the neighborhood are higher this week because the prices for homes not listed in the MLS as being in The Highlands, but are really located in The Highlands, have been factored into the numbers. These numbers are more accurate for the neighborhood than the numbers listed in previous weeks.

The neighborhood has done a great job with the  excitement of “Extreme Makeover” happening in the Highlands. 

I think our area is one of the best in the country for real estate, as I have stated in many of my comments on The Seattle PI Real Estate Professionals blog.  There was also a great article in Forbes magazine supporting Seattle as a bright spot for real estate in the country.  If we look at the above numbers, 2 months as an average market time is not that big of a deal.  It only seems to be a long time because homes sold so quickly in the past.  The market here is simply a more realistic market.