Kirkland, WA housing market

Kirkland home values are down nearly 5 percent in a year, and sellers are pricing like it. If you are thinking about selling in the next several months, here is what this market is actually telling you. The typical Kirkland home is now worth about $1.28 million, down roughly 5 percent from a year ago. That is a real decline, not a rounding error, and it changes how a listing should be priced. There are about 490 homes for sale right now, with roughly 170 fresh listings coming on, so buyers have options and they are taking their time. The median home sits on the market for about 42 days, long enough that an overpriced listing starts to look stale. Here is the part worth watching. The median list price is about $1.27 million, slightly below the typical home value. Sellers as a group are already coming in realistic, yet nearly 18 percent of listings have still had to cut their price. That tells you buyers are holding out even against fair numbers. So the move is straightforward: price at or just under the market from day one, because the sellers who chase the market down are the ones sitting for weeks. If you want to know what your Kirkland home would realistically sell for today, get a free home value estimate at Home Value Pros dot com.