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Apr. 14, 2011 - Home Prices Recover in Kirkland 98033

Home Prices in Kirkland 98033:

The median price for a Single Family Home in Kirkland 98033 reaches February 2006 levels of $605,000. 

Number of homes sold is up 68% from 1st Quarter 2009 levels and down 42% from 1sgt Quarter 2006 levels.

When you consider that 42% of the sales were Bank Owned and/or Short Sales, that is a significant increase. The median price for the 44 homes that were not "distressed" properties was $646,000, but with that many distressed properties it really is not appropriate to segregate the stats that dragged the median price down from $646,000 to $605,000. 

Clearly a significant recover for this segment of the King County Single Family Home market.

Also of considerable note is that 50% of the non-distressed homes sold in 90 days or less. 18% sold in a week or less and 23% sold in two weeks or less.

A few thoughts as to why HERE.

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

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Apr. 16, 2011 - RE: Home Prices Recover in Kirkland 98033

Posted by Mark Ryan

 Ha, ha. I'm a buyer and been looking at homes in the Remond and Kirkland areas. So you say things are recovering. Well keep that train of thought as it'll keep your sellers motivated but overpriced. Meanwhile, us buyers know the reality and will not pay 2006 prices today. Heck, lucky to offer 2004 prices to be honest. I've come close to making offers on numerous properties for 2004 prices but for one reason or another, didn't as the property did not meet my needs. The properties are still for sale, have reduced their price and now lower than what we were going to offer. So, no hurry on our end as we keep looking for that perfect home and watch prices come back to reality.

Got to say it's amazing how realty agents like yourself can pick and choose statistics to back up your view. Thanks to the internet, buyers can filter out the BS from the facts.

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Apr. 16, 2011 - RE: Home Prices Recover in Kirkland 98033

Posted by ARDELL DellaLoggia

 Marc,

I appreciate your thoughts, and understand that I am more "popular" when reporting bad things than good ones.  This is a blog, and so I'm not picking and choosing. I'm reporting on recent events as I see them.

It only makes sense if Google moves into an area and hires people, that prices in that area will be impacted. To pretend otherwise is ignoring the facts.

Yes, this is likely an isolated event in areas closest to Google. Still newsworthy. Just helped a buyer sell in Sammamish for 13% to 14% more than they paid in late 2003. That looks like mid 2005 pricing. But when you factor in 8 years of depreciation, not a bad result.

Not saying you can't buy a house for 2004 prices, you clearly can. But what are the tradeoffs? Busy road? Lesser ranked schools? Needs a lot of updating? 

For those looking for best area, best school and walk to Downtown Kirkland, the bargains are harder to come by in recent times.

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May. 9, 2011 - RE: Home Prices Recover in Kirkland 98033

Posted by Boligsalg

 Amazing start and great achievement to sold 68% homes. Descriptions the prices of homes in Kirkland have clear much confusion of visitors. As we all know prices of everything is increasing day by day. Same case is with the property.
Ejendomsmægler

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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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