The year 2017 brought many interesting milestones for our brokerage, Realogics Sotheby's International Realty; and the real estate market over the past year surely kept us on our toes! Newly published, the 2017/2018 Market Report: Year Review & Trends to Watch delves deep into market statistics in the surrounding Western Washington area, including the counties of San Juan, Island, Kitsap, Jefferson, Pierce, King, Snohomish, and Skagit.
In this blog post we'll briefly touch on statistics covering the Seattle Eastside, specifically Kirkland. The year-over-year median price change in Kirkland was a 12.4 percent increase, which wasn't even one of the highest changes our overall area saw in the past year. (The biggest increase was in Southeast Seattle at 20.4 percent.) The Kirkland market has highly favored sellers in the past year and the median single-family home price rose from $720,800 in 2016 to $810,000 in 2017.
The market is staying competitive as Kirkland continues to offer similar quality of life as homes in Bellevue at a discount to Bellevue prices. "Three-, four-, and five-bedroom homes in Kirkland sold for respectively 18.3 percent, 25.1 percent, and 18.5 percent less than those of its southerly neighbor. Though, overall the number of single-family home transactions decreased by 3 percent from 2016, to 1,233 from 1,271.