Carrington Durr Group | Real Estate Market Report
Kirkland, WA 98034
Single-Family Homes
John L Scott Real Estate | 206-948-3852 | wlc@johnlscott.com
Kirkland, WA 98034
Mon Apr 29 2024
This week the median list price for Kirkland, WA 98034 is $1,702,500 with the market action index hovering around 74. This is about the same as last month's market action index of 74. Inventory has increased to 24.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Real-Time Market Profile
| Median List Price | $1,702,500 | |
| Median Price of New Listings | $984,975 | |
| Per Square Foot | $736 | |
| Average Days on Market | 72 | |
| Median Days on Market | 35 | |
| Price Decreased | 25% | |
| Price Increased | 4% | |
| Relisted | 8% | |
| Inventory | 24 | |
| Median Rent | ||
| Market Action | 74 | |
| Strong Seller's Market | ||
Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,890,000 | 4,014 | 8,000 - 10,000 sqft | 4 | 3.4 | 2 | 0 | 0 | 45 |
| $2,047,500 | 3,053 | 0.25 - 0.5 acre | 4 | 2.8 | 25 | 0 | 0 | 108 |
| $1,494,975 | 1,752 | 8,000 - 10,000 sqft | 3 | 2.3 | 48 | 1 | 1 | 45 |
| $984,975 | 1,750 | 6,500 - 8,000 sqft | 3 | 2.4 | 50 | 5 | 3 | 0 |