By Greg Perry, Kirkalnd Realtor
For the week ending April 7, 2007, NWMLS are 560 Kirkland/Bridle Trails had 263 ACTIVE residential (no condos)listings and 19 PENDING listings. This gives area 560 13.8 weeks of standing inventory (it will take 13.8 weeks to sell all inventory at the current rate of sale).
Inventory under $700,000.00 is selling quite briskly. Over $700,000, market times are longer. 7 week averages for the price point of $$1,250,000 to $1,5000,000 has the most inventory at 29.6 units for the 7 weeks period with an absorpton rate of 34.5 weeks (averaging less than 1 unit/week).
Kirkland areas East of Market, West of Market, Downtown and Houghton have all experienced a tear down, rebuild boom which has created a swell in inventory. Prices over $1,000,000 in area 560 currently have the longest market times for any area on the Eastside.
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