Market Mondays: Kirkland Condos

Happy Monday!

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The sun is shining, the leaves are falling and the holiday season is rapidly approaching.  This week, I will share with you a quick glance at the Kirkland condo market.  In the spirit of the holiday season, I will also be doing a post this coming Wednesday on some easy and fun holiday themed updates for your fireplace mantle, so stay tuned!

As of November 10, 2014 Kirkland has 59 active condo listings ranging from $138,000-$5.75 million, with the median listing price of $380,000.  In the last 90 days, there have been 86 condos sold with a sale price of $149,000-$3.15 million and median sale price of $516,000.  As you will see demonstrated by the graph below, Kirkland had 6 months supply of inventory (a balanced market), at the end of October.  However, as we approach the end of the second week in November, Kirkland is at 2.06 months supply of inventory based on closed sales.  Many homes that are now closed had more than likely gone pending in October, not reflecting in the months of inventory based on closed sales.  Its normal for the market to slow down a little in the fall and winter months…less light, holidays etc. have brought the Kirkland condo market down to a simmer, although things are definitely still clipping right along!

What will the median sale price of $516,000 get you in the Kirkland area?

The above property, a detached condo, sold for $516,000 in October, falling right in the middle of the pack with a little over 2,000 square feet and a beautiful floor plan.

If you, or someone you know are looking for condos in Kirkland, email me at rachelwagner@johnlscott.com.  As an avid runner and Kirkland resident, I am always out and about in the neighborhoods and absolutely love this area…I’m grateful to call it home.

Make it a great week!

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