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ARDELL's Seattle Area Real Estate Blog

Jan. 12, 2014 - Selling a Home in Holmes Point Kirkland WA

Before we move to Holmes Point and 98034 I am posting the absorption rate graphs summarizing the stats from this morning's post on 98033. In 98033, basically a strong seller's market for a full 2/3rds of the market priced at under $775k based on 2013 closed sale data and currently for sale in 2014 as of today. Still a seller's market but not as strong up to $1.5 Million where it abruptly shifts to a Buyer's Market with Nine Months of standing inventory before we add new listings in 2014. All this makes sense if you read this morning's post and for those who didn't the link is above. On to 98034.

In the graph below you see a very similar pattern BUT with different price points for 98034.

Again...almost NO inventory for 2/3rds of would be buyers in 98034. "would be" buyers means that 2/3rds of all people who purchased a home in 98034 in 2013 spent less than $494,000 for a home. In 98033 that cut off price was $774,000. HUGE difference in price point, but same pattern of less than a one month supply on market until we get to the last 1/3rd of "would be" buyers. In 98034 I had to break out that last 1/3 twice. In the first round in the graph on the right we only jump from a Seller's Market to a Balanced market until we break out that Balanced Market one more time into 3rds in the bottom graph. 

When we peek into the 6 months of inventory for homes priced over $670,000 in 98034 we see 14 months of inventory over $1.5 Million and shift from a Seller's or Balanced Market into a Buyer's Market at $1 million in 98034 vs $1.5 Million in 98033.

The 98034 neighborhoods of Holmes Point, Juanita Point, Champagne Point and Goat Hill will overlap into 98033 BUT will not carry the same price points as if they actually are 98033. Likewise the neighborhoods of Rose Hill and part of The Highlands will overlap more with 98034 pricing AND a small smidgen of Woodinville will overlap Kirkland.

The difference will be that 98034 with water access and view will still be at a disadvantage to say West of Market but at an advantage to Finn Hill. For those who know Kirkland somewhat, that will make perfect sense and be supported by the data above and in this morning's post. 

For specific information as to how the home you are selling or buying fits into this, you would have to call me at 206-910-1000 BEFORE you hire an agent. Agents are not allowed to discuss property with people who have already hired an agent. So do your homework before you pick an agent, so as to get the most info available before proceeding on your journey to home ownership or selling a home.

 

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(Required Disclosure: Stats in this post are not compiled, verified or published by The Northwest Multiple Listing Serves NWMLS The MLS.)

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ARDELL DellaLoggia of Sound Realty on Seattle Real Estate process and market including Kirkland, Bellevue, Redmond, Green Lake and most areas around the top of Lake Washington North of Downtown Seattle. Phone: 206-910-1000 - Mailto:ARDELLd@gmail.com

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