If you’ve been home shopping in Kirkland, Quebec, one thing you know for sure is that there’s not much to choose from and, when there is something to look at, it’s sold before you know it.
This real estate market is not for the faint of heart, and it’s not for slackers either. You need to be well-prepared, with a valid 2018 mortgage pre-approval in hand, and ready to make decisions quickly, ideally with the guidance of an experienced real estate broker.
I looked at the stats* for Kirkland over the past 5 years, comparing the January to April period in each year, and here’s what I found:
- the number of homes for sale is down significantly, the lowest its been in 5 years and about half what it was during the same period last year;
- the time it takes for a house to sell is down significantly, the lowest its been in 5 years, sitting at about one month; and
- prices are up significantly, up 43% from 5 years ago.
Whoa. Those are some significant changes.
Each month so far in 2018, there have been, on average, 45 homes for sale in Kirkland. If you were shopping at the same time last year, you would have had 83 homes to choose from in any given month in the first part of the year. The year before? 138.
If you put your Kirkland home for sale this year, you could expect to have it sold in just 32 days. 32! Last year, it would have taken 3 weeks longer.
As for how much you could expect to pay, I looked at the median sold prices for Kirkland in January, February, March, and April of 2018 and then averaged out these medians. In 2018, the average median price paid for a Kirkland home is sitting at about $590,000. In 2017, that number was about $520,000. Way back in 2013, it was $412,000. It paid to get in on the action early, as it usually does in real estate.
How long will this market last? Who knows. What I do know is that as long as demand overwhelms supply, we can expect it to remain a seller’s market.
If you need some help navigating this challenging market to find a home, I can help. I lived in Kirkland for 14 years and know it inside and out. Not only that, I have strategies to help position your offer favourably so that you can get the home that you want.
If you’re a homeowner looking to capitalize on this sellers’ market in Kirkland, I have some definite strategies to get you exceptionally well-prepared so that when your home does enter the market, we will be positioned to get you absolute top dollar with the least amount of stress possible.
Let me know how I can help. Tanya Nouwens – 514-919-8468 firstname.lastname@example.org
*Statistics from Greater Montreal Real Estate Board. Single-family homes only; no condos.