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Is buying a home on your mind lately? If so, have you considered where you’d like to make a home purchase?
Washington State offers plenty of amazing spots to buy home and plant some roots, and Kirkland is one of them. But before you invest in a home in this city, there are a handful of important considerations to make, including determining the average home price in Kirkland, WA.
Understanding what homes are selling for in Kirkland is a crucial step early on in the house-hunting process. Before you even step foot inside a home that’s listed for sale, you should have a clear idea of how much homes are selling for, and how much you can afford to spend.
Further, getting familiar with the temperature of the market is also an important step to take, as it will tell you how competitive the market is and how strong your offer will have to be when you’re finally ready to pull the trigger.
Keep in mind that home prices never remain stagnant. They’re always changing. Even if home prices are following a certain trend right now doesn’t mean that trend will continue forever. Things can change on a dime, which is why it’s helpful to keep your finger on the pulse of what home prices are doing.
One thing is certain when it comes to Kirkland: home prices in this city are quite expensive, especially when compared to the state-wide average. They’re also a bit higher than the overall average price in King County. But the higher prices that come with Kirkland are understandable given the desirability of the city.
Let’s take a closer look at Kirkland, and more specifically, let’s determine the average home price in Kirkland, WA to help you understand what you may have to pay to buy a home here.
There are plenty of reasons why people flock to Kirkland and why current homeowners love living in this city. This Pacific Northwest area has it all, which is a big reason why you’ll see higher home prices here compared to other places across the state.
For starters, Kirkland is home to many tech giants that help boost the economy. Companies like Google, Microsoft, and IBM all call Kirkland home. There are also plenty of STEM job opportunities available to residents and others who wish to commute to Kirkland to work in this industry.
Another great reason why Kirkland is such a desirable place to live is its natural beauty. The city is located along the shores of Lake Washington, which boasts gorgeous scenery and glistening beaches.
There’s also an extensive park system in Kirkland for those who appreciate spending time in the great outdoors. Residents have plenty of options to swim, picnic, play volleyball, or just relax and enjoy the view.
Kirkland also boasts great schools, family-friendly neighborhoods, fabulous wineries, and excellent shopping and restaurants to enjoy. Kirkland truly is the best of all worlds, giving residents a prime place to live, work, and play.
The real estate market in Kirkland is very hot right now, much like other parts of Washington State. Homes are selling quickly and for top dollar.
According to RedFin, most homes receive multiple offers, and offers often have their contingencies waived. In fact, the average home sells for about 7% over the listing price. Approximately two-thirds of homes have sold over asking over the past year.
The average home goes pending in as little as 5 days, and hot properties go pending in around 3 days.
Demand for housing is very high in Kirkland, and supply cannot keep up. As such, home prices are being driven up as a result. As of May 2021, the average home price in Kirkland, WA is $837,767, which is 8.8% higher than the same time last year. Compare that to Washington’s state-wide average of $497,180, and King County’s average of $749,567.
Do you have questions about mortgages in Kirkland? If so, Sammamish Mortgage can help. We are a local mortgage company from Bellevue, Washington, serving the entire state, as well as Oregon, Idaho, and Colorado. We offer many mortgage programs to buyers all over the Pacific Northwest and have been doing so since 1992. Contact us today with any questions you have about mortgages.
Thinking of buying a home in Sammamish, WA? If so, you should determine the average home price before you make a purchase. Read on to find out more.
S&P Case-Shiller Home Price Indices reported the fastest pace of U.S home price growth since 2005.