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As much as I want to share the stats of recent sales and tell you how busy we’ve been and the bidding wars we’ve encountered. I would much rather answer the question that I keep hearing over and over. “Is this market sustainable? Are we in a bubble? Is the market going to crash?”

Obviously, no one can predict the future, but we can look at the information we have today and understand what is driving this market. It comes down to simple supply and demand. But what’s really important to understand is that the two are grossly out of balance. We have 65% less inventory than we did this time last year and while the demand is hard to measure, I believe it’s 5-10x what we see in a typical market. Despite the trend of paying 20-40% over asking, the buyers purchasing these homes are still qualifying for mortgages, which have very strict guidelines. Lots of transactions are cash and I attribute this to the increase in value of stock portfolios. 

There is speculation that the mass rollout of the vaccine will in turn cause more people to put their homes on the market, but the balance is so far off right now that it is going to take a very long time to fill the buyer demand. 

I have lots to talk about on this subject. If you want to hear more about my opinion and research on this subject please don’t hesitate to reach out. I would love to hear your thoughts as well!

Cheers,
Max 

Stats as of March 2021
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FOOD LIFELINE FOOD DRIVE 

To give back to the community and spread some kindness, Kirkland Urban has teamed up with Food Lifeline, a nonprofit organization dedicated to ending hunger in Western Washington. Kirkland Urban will host a recurring food drive, weekly on Thursdays for the foreseeable future.

DRIVE-IN MOVIES AT MARYMOOR PARK 

The BECU Drive-in Movies at Marymoor Park are returning on April 20, 2021 for our 17th consecutive season of outdoor movies at King County’s Marymoor Park in Redmond. Load up the car and join us at the Seattle area’s favorite drive-in movie theater.

NACHO MAMAS FOOD TRUCK 

Nacho Mama’s offers unique gourmet nachos, infused with a range of flavor combinations that are not your regular nachos. They offer nacho chips made using local organic ingredients, and the entire menu is gluten-free. Come have dinner at Nacho Mama's Food Truck in Finn Hill, Friday, April 30th from 4:30-7:30 pm. NE 142nd Street & 93rd Ave NE. This is an opportunity to support a local business. All are welcome! 

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$2.4MM 
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Open house Saturday + Sunday 1-4pm

This property has it all! Ideally located minutes to shopping, dining, downtown Kirkland, and walking distance to future Google campus. Easy access to I-405. Directly across the street from Lake Washington High School.

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MAX ROMBAKH

Managing broker

Luxury Real Estate Specialist

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Max Rombakh, Windermere Real Estate · 3933 Lake Washington Blvd NE Ste 100 · Kirkland, WA 98033-7806 · USA