Kirkland home sales continued at a brisk pace in March according to statistics released by the Northwest Multiple Listing Service. Pending single family sales (contracted, unclosed) rose 15% from February's level, but were almost 14% less than the sales one year prior.
Inventory levels remain low at 1.5 months of supply--still very much a seller's market. The median price was slightly higher than in February, but lower than one year ago. That may be because of the number of lower-priced homes however.
Condo sales increased significantly--67%--over February levels, but were flat year over year. Inventory levels remain low at 1.1 months of inventory and prices in March were significantly higher than in February.
We are starting to see some price resistance and some price reductions. However, we still have multiple offers when homes are priced right and in good condition--particularly in the $400-700,000 range. Too soon to tell if this means we are at the peak or if this indicates that we will see price appreciation growth slowing.
If you are thinking of selling, though, it could be the best time to do so. Are you a buyer? Have patience and an agent with a proven track record helping buyers in this competitive real estate market.
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