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ARDELL's Seattle Area Real Estate Blog

Jan. 11, 2014 - Selling a Home - Kirkland WA

Selling a home in Kirkland Washington is not extremely difficult at the moment and has not been for the last few years. Focusing on 98033 stats excluding 98034 stats, it isn't hard to see why that is the case.

For anyone selling a home for $775,000 or less in 98033, there is LESS than a ONE MONTH supply of homes on market. If you are one of the people on market who can't sell your home in that price range, and there are very, very few of you, you need to focus on why, as it is NOT current market conditions that is holding you back.

In the $750- $1 Million range...still not difficult, though not necessarily as easy as the under $750,000 market depending on product and location of product. In the chart on the left looking at the bright turquoise pie slice you see on the left that 96 were sold in all of 2013 and there are currently 23 for sale. No where near the inventory standing of $750,000 or less at 2 to 3 weeks of inventory...more like four months of inventory. That's pretty high for this early in the year and new listings will start stacking on top and expanding the months of inventory on market.

Anything over $774,000 represents a full 1/3 of the number of homes sold BUT also represents 65% of the number that are for sale. Way out of proprotion and that gets worse as you get over a million or over a million-five.

Over a million five has a FULL YEAR of inventory with 28 sold and 27 for sale!

So...back to my opening statement, it is fairly easy to sell in Kirkland due to Supply and Demand factors...UNTIL you get to a million plus and over $1.5 million there will need to be many price reductions and that will hurt the $775,000 to a million listings as the reductions trickle down into the $1M to $1.5M range and beyond.

I'm thinking Kirkland is clearly one of the best if not THE BEST places to live...period. But home sellers still have to be careful not to dramatically overprice their homes. From what I have seen so far in 2014, most are pricing 10% to 20% higher than they should and the buyers aren't "buying it". The sky is not the limit.

Before you say "seasonal factors", I had no problem getting the price on my West of Market listing and more recently 5 insanely high offers on my Juanita condo listing.

Also...thinking you don't have to do much as to staging and online presentation because the home will sell whether there is a lot of effort put into it or not...not the case. Lots of buyers...but they can be pretty picky when it comes to online presentation and odors or other staging snafus when viewing your home. Not a good time to be overconfident in most any price range.

If you put the right amount of effort in...you will get an excellent result.

*********

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

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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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