Kirkland Real Estate Statistics 7 Week Averages
By Greg Perry, Kirkland Realtor
NWMLS Area 560 (Kirkland/Bridle Trails) Residential Only
Each week, we track the ACTIVE inventory in every price range, and what has SOLD (PENDINGS) in every price range. We then take each week's statistics and average them over a 7 week period. When we divide PENDINGS into ACTIVES, we can create a market absorption rate. Tracking absorption rates allow us to see trends immediately.
We track these statistics for all the Eastside NWMLS areas for both condos and residential sales. Becuase my office is in Kirkland we'll focus on Kirkland statistics for awhile. Here are the Kirkland, 7 week statistics by price range, residential only. Remember, these are the 7 week averages.
Price range |
| Average Active | Average Pending | Weeks Inventory |
0 | $299,000 | 00 | 00 |
|
$300,000 | $399,000 | 0.7 | 0.4 | 1.7 |
$400,000 | $499,000 | 14.3 | 2.6 | 5.6 |
$500,000 | $599,000 | 21.4 | 3.0 | 7.1 |
$600,000 | $699,000 | 21.0 | 2.1 | 9.8 |
$700,000 | $799,000 | 28.6 | 2.1 | 13.3 |
$800,000 | $899,000 | 33.7 | 1.9 | 18.2 |
$900,000 | $999,000 | 21.0 | 2.1 | 9.8 |
$1,000,000 | $1,249,000 | 33.3 | 1.7 | 19.4 |
$1,250,000 | $1,499,000 | 30.3 | 1.1 | 26.5 |
$1,500,000 | $1,749,000 | 17.6 | 0.6 | 30.8 |
$1,750,000 | $1,999,000 | 13.3 | 0.6 | 23.3 |
$2,000,000 | $2,249,000 | 6.6 | 0.3 | 23.0 |
$2,250,000 | $2,499,99 | 7.7 | 0.1 | 54.0 |
$2,500,000 | And up | 15.7 | 0.1 | 110.0 |
| Totals | 265.1 | 18.9 | 14.1 |
We generally consider anything up to about 18 weeks of standing inventory a SELLER'S market. Between 18 and 22 weeks a BALANCED market and anything over 22 weeks a BUYER'S market.
As you can see, homes under $400,000 in Kirkland don't really exist. Yet there is 7 week average of 124.5 homes over $1,000,000 that represents 38% of the Kirkland's residential inventory. I've been watching the above $1,000,000 Kirkland market closely for the last several months, and currently inventroy is starting to absorb at a faster rate than we've seen recently.
If you have a question on inventory absorption for any of the Eastside area, residential or condo, call or email us.
425realty.com home of the free telephone market analysis! Call today to see what your home is worth! 425.829.7012.
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