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Health & Fitness

Spring Selling Season Comes Early for Kirkland Homes

Kirkland home sales rose significantly in January, according to statistics just published by the Northwest Multiple Listing Service.  Pending (contracted, not yet closed) sales of single family homes increased by almost 51% between December and January.  Pending home sales were up 1.5% from the level one year ago in January 2013.

Supply remain very low at 1.5 months of inventory.  The lack of homes combined with strong demand means that multiple offers are the norm.  It is also driving prices higher, with an increase in the median single family home rising from $535,000 in December to $566,000 in January.

Kirkland condo sales were strong in January also, with an almost 85% increase in pending sales over December levels.  Inventory levels remain low at 1.5 months of supply.  The median sales price was $300,000, a slight increase over the December level. 

With low interest rates and strong demand for homes, we should see continued strong sales activity and price increases in the near term.  Good news for sellers.  Buyers will need patience and a proven strategy for buying a home in this competitive environment.

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