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Winderemere : 11411 NE 124th St - Kirkland WA : 425 829 7012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kenmore listing
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Winderemere : 11411 NE 124th St - Kirkland WA : 425 829 7012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Winderemere :11411 NE 124th St -KirklandWA: 425 829 7012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Winderemere :11411 NE 124th St -KirklandWA: 425 829 7012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Auburn lising
I used to do an "elevator commercial" at a networking group, that went like this, "Births, deaths and empty nests. Upsize, Downsize or No size (lose a job). Marraige or Divorce (which may lead to remorse) are all life changes that often lead to making a change in people's real estate goals."
And it's TRUE!
On Friday, Donald and Megan recieved the keys to their new home. They were first time buyers and were expecting their first child. I loved them from our initial meeting. They were attentive to the process, asked great questions and were excited to get started. After a couple of weeks taking care of a few details for their loan, we went looking.
We found a wonderful house in a very nice neighborhood. The house was nicely kept both inside and out and had plenty of room for an expanding family.
Here's a photograph of Donald and Megan posing in front of their home on closing day:
As you can see, Megan is very pregnant!
Well, I always call after a client moves in to their new home to make sure that everything went smoothly and that there were no "surprises" that we couldn't anticipate. I called Donald on Monday and didn't get him live. On Tuesday, I got the following message:
"Hi Greg!
Sorry for not returning your call, things got a bit hectic around here. We got moved over on Saturday, with Megan directing. We didn't get even a full nights rest in the new house when at 4am Sunday Megan's water broke. Went into the hospital around 7am. After a long day for Megan and I, our beautiful baby boy Neil was born at 2.53am on April 9th. It was excellent timing, as both our parents were in town to help us move, so they got to unpack our stuff, setup the baby's room and meet him on Monday.
THIS IS WHAT A HOT REAL ESTATE MARKET LOOKS LIKE:
We've been using and posting these King County and Snohomish Heat Maps for may years. In all the years since we've been using these maps, we've never seen one THIS HOT! I don't recall ever seeing every main land area in King County and Snohomish County showing less than three months of inventory! This is even quicker supply and demand movement than the good years of 2004 and 2005.
Here's how March 2012 looks vs. March 2011:
As you can see, last year there were just a few core areas that were red. The rest of the region was solidly what we consider a balanced market.
The NWMLS Eastside Areas 500-600 At-A-Glance
King County NWMLS Areas 500-600 had only 1,651 Active Listings vs. 2.500 in 2011 for a decline of a whopping 34%. At the same time Pending Sales were up (963 in 2012 vs. 746 in 2011) up 29%. Months of inventory slid to 1.7 months in 2012 vs. 3.4 months in 2011.
Median prices for closed sales were down slightly from last year ($495,105 in 2012 vs. $506,405 in 2011). Prices are showing signs of strengthening with short market times and multiple offers.
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Winderemere : 11411 NE 124th St - Kirkland WA : 425 829 7012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The switch is ON as Residential Pendings jumped 18% from last year (735 in 2012 vs. 624 in 2011) in King County's Eastside NWMLS zones 500-600. At the same time, we saw a WHOPPING 29% decrease in listing inventory (1,710 Active listings in 2012 vs. 2,418 in 2011). Months of inventory for these Eastside areas slid to it's lowest point since mid 2007 to 2.3 months of inventory. Last year the Eastside had 3.9 months of inventory. Pendings were also up month over month from January (735 vs. 577) despite 2 fewer days.
The Closed Sale median price was down slightly from last year ($489,251 in 2012 vs. $500,000 in 2011) for a 2% drop.
Remember that price trends follow supply and demand. If this trend continues, I would expect median prices to start rising. Anecdotally, multiple offers are being reported throughout the region, and prices are starting to escalate.
Here are the Feb. 2012 Statistics At-A-Glance:
The year over year HEAT MAP shows a stunning difference in the changing of the colors from last year:
All areas that are RED on the HEAT MAP indicate less than 3 months of inventory (Seller's Advantage).
Give me call if you want to know how this market relates to you and your home! 425-829-7012
For King County's Eastside, residential real estate inventory tightened considerably in January. Last January (2011) we had 2,361 Active residential listings. This year (2012) that number dropped to 1,729 active listings. Yet, at the same time, Pending listings increased from 510 in 2011, to 577 this year! Months of supply came in at 3.0 months of inventory, which nudges the region into a mild "sellers market".
Median prices dropped 3% from 2011. However, if this trend of tightening inventory continues, LOOK FOR THE MEDIAN PRICES TO START RISING!
Here are the important Eastside (NWMLS 500-600) residential inventory numbers at a glance:
Here is a residential heat map of King and Snohomish Counties. You will notice that the colors have turned dramatically to RED throughout the region improving from last year.
It is still too early to declare that the market has corrected, but if this trend continues, it's looking good for 2012!
$275,000 MLS 316037
13044 87th Pl NE, Kirkland, Wa
To see more photos click:http://www.windermere.com/tid332019
Greg Perry, Kirkland realtor
Kirkland listing
