Kirkland, WA housing market

Kirkland sellers are learning a hard lesson this month: price high, and the market will correct you. The typical home value is now about $1.33 million, down 5 percent from a year ago, and nearly 22 percent of active listings, more than one in five, have already taken a price cut. There are 465 homes for sale, with 182 new listings hitting the market this month, so buyers have real choices. That is showing up in timing too, with the typical home taking about 40 days to go under contract. Notice the gap: the median list price, around $1.31 million, is already sitting below the typical value, which tells you sellers are pricing to move, not to test the ceiling. The takeaway for Kirkland homeowners is simple. In a market where one in five sellers is cutting, your first price is your best price. Get it right on day one.