Kirkland, WA June 2025 Housing Market
May 2025 was a Neutral market! The number of for sale listings was up 119% from one year earlier and up 36.6% from the previous month. The number of sold listings decreased 24% year over year and decreased 16.1% month over month. The number of under contract listings was up 21.6% compared to previous month and down 12.6% compared to previous year. The Months of Inventory based on Closed Sales was 3.5, up 190.3% from the previous year.
The Average Sold Price per Square Footage was down 2.2% compared to previous month and down 4.3% compared to last year. The Median Sold Price decreased by 7.1% from last month. The Average Sold Price also decreased by 6.1% from last month. Based on the 6 month trend, the Average Sold Price trend was "Depreciating" and the Median Sold Price trend was "Depreciating".
The Average Days on Market showed a neutral trend, an increase of 50% compared to previous year. The ratio of Sold Price vs. Original List Price was 99%, a decrease of 4.8% compared to previous year.
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It was a Neutral Market
Property Sales (Sold)
May property sales were 73, down 24% from 96 in May of 2024 and 16.1% lower than the 87 sales last month.
Current Inventory (For Sale)
Versus last year, the total number of properties available this month was higher by 138 units of 119%. This year's bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory was up 36.6% compared to the previous month.
Property Under Contract (Pended)
There was an increase of 21.6% in the pended properties in May, with 90 properties versus 74 last month. This month's pended property sales were 12.6% lower than at this time last year.
All reports are published June 2025, based on data available at the end of May 2025, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
The Average Sold Price per Square Footage was Depreciating*
The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the 'mix' of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The May 2025 Average Sold Price per Square Footage of $753 was down 2.2% from $770 last month and down 4.3% from $787 in May of last year.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
The Days on Market Showed Neutral Trend*
The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for May 2025 was 15, up 25% from 12 days last month and up 50% from 10 days in May of last year.
The Sold/Original List Price Ratio Remains Steady**
The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 99% was down 2% % from last month and down from 4.8% % in May of last year.
* Based on 6 month trend – Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady
All reports are published June 2025, based on data available at the end of May 2025, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
The Average For Sale Price was Depreciating*
The Average For Sale Price in May was $2,208,000, down 19.9% from $2,758,000 in May of 2024 and down 5.8% from $2,345,000 last month.
The Average Sold Price was Depreciating*
The Average Sold Price in May was $1,891,000, down 2.1% from $1,931,000 in May of 2024 and down 6.1% from $2,014,000 last month.
The Median Sold Price was Depreciating*
The Median Sold Price in May was $1,568,000, up 0.5% from $1,560,000 in May of 2024 and down 7.1% from $1,688,000 last month.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
It was a Neutral Market*
A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.
*Buyer’s market: more than 6 months of inventory
Seller’s market: less than 3 months of inventory
Neutral market: 3 – 6 months of inventory
Months of Inventory based on Closed Sales
The May 2025 Months of Inventory based on Closed Sales of 3.5 was increased by 190.3% compared to last year and up 65.5% compared to last month. May 2025 was Neutral market.
Months of Inventory based on Pended Sales
The May 2025 Months of Inventory based on Pended Sales of 2.8 was increased by 150.9% compared to last year and up 11.9% compared to last month. May 2025 was Seller's market.
All reports are published June 2025, based on data available at the end of May 2025, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
It was a Neutral Market*
Absorption Rate measures the inverse of Months of Inventory and represents how much of the current active listings (as a percentage) are being absorbed each month.
*Buyer’s market: 16.67% and below
Seller’s market: 33.33% and above
Neutral market: 16.67% - 33.33%
Absorption Rate based on Closed Sales
The May 2025 Absorption Rate based on Closed Sales of 28.7 was decreased by 65.4% compared to last year and down 38.7% compared to last month.
Absorption Rate based on Pended Sales
The May 2025 Absorption Rate based on Pended Sales of 35.4 was decreased by 60.1% compared to last year and down 11.1% compared to last month.
All reports are published June 2025, based on data available at the end of May 2025, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
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