Kirkland Real Estate Market Prices, Trends, and Forecasts 2023
The scoop on Kirkland’s current real estate market
Kirkland is a picturesque suburban area along the northeastern shore of Lake Washington. Residents within the area have majestic views of the lake, Mt. Rainer, or the Seattle skyline. With a modest population and multiple routes for traveling to nearby larger cities, it is the ideal location for those who love the great Northwest. An abundance of parks and recreational activities further adds to its appeal.
If you wish to capture a piece of all Kirkland offers for yourself, you must understand the current housing market, trends, and forecasts for 2023. Kevin Donovan is here to help you discover the pros and cons of investing
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More homes are being built to combat the increased need for affordable housing and the influx of people moving into the northwest. Suburban areas will also grow with a higher demand for more housing options.
Therefore, Kirkland's population is expected to grow as people step out of the city, opting for a slower lifestyle. This place has a unique lifestyle, with brick streets and trees in the city, complemented by lush natural beauty in residential areas.
Current market trends in Kirkland
In recent years, the Kirkland housing market has seen a decrease in housing costs. Over the last year, sellers were pricing and selling homes at approximately 11.8% less than the previous year. This makes it possible for buyers in today’s market to get more real estate for less cost.
If you hold on to the property for a couple of years, you could increase your profits as the housing market once again becomes a seller’s market.
How did Covid affect the housing market in Kirkland?
When Covid hit, Washington was the epicenter of the outbreak, with some of the first cases being diagnosed. This slowed the influx of buyers moving to the area and spurred an increase of homeowners wanting to move. NAR confirms that Seattle sellers amassed multiple offers on listings despite a market slowdown and
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Larger businesses, including Google, Amazon, Facebook, and the Evergreen Health System, have encouraged growth.
Single-bedroom rental properties boast an average rental price of $2,000. Single-family homes have a median price average of $1.5 million or $750 per sq ft. This typically means you get a lot of luxury within the home and ample space both indoors and out.
Should you invest in Kirkland real estate?
Kirkland's location makes it highly coveted. Within 20 minutes, you can be in Seattle, which makes it ideal for professionals looking to unwind in the suburbs. Even with a slightly lower income per sale, Kirkland remains a smart investment because of the influence of big businesses in the area. As more people move into the heavily populated Seattle metro area, others will seek a reprieve from it.
Capture your piece of Kirkland today!
Whether you long for a home that’s on Washington Lake or one set amidst the hills overlooking the beauty of the surrounding area, it is all possible in Kirkland. You can make a solid investment in your future by buying a luxurious home now, with decreasing mortgage rates and reasonable