Kirkland home prices continue to fall this year. This is great news for home buyers and bad news for sellers. Below are a couple chilling facts about the Kirkland real estate market:
- The number of closed deals in Kirkland was a lowly 19 in April of 2009 this is down 47% from 36 closings in April 2008. In March 2007 there were 74 closings.
- The median price drop was enormous year over year (31%!) this is down to $469,000 from $677,500 a year ago.
- The average dollar per square foot is down 37% to $248 per sq foot, a year ago it was $396 per sq foot. The March 2009 dollar per square foot average was $255 vs. $334 from March 2008 so this does not look like a one-time event.
- The average sold price was $557,000 vs $934,000 from April 2008 and the average discount off of the last list price was 7.2%. One year ago the average discount off the last list price was 4.3%.
- In March of 2007 there were 23 properties that sold in Kirkland for over $1M. In March of 2008 there were 12. In April of 2008 there were 9. In April of 2009 there was 1!
If you are interested in house hunting in Kirkland prices are becoming more attractive month by month! How much longer do you see the market behaving like this?
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