Are prices in The Highlands already going up this year?

In a previous post, I looked at last year's sales range for homes sold in the Lake Washington School District. Since the district covers a huge area, I got to thinking about the sales ranges in the Highlands for 2006. I also thought it would be good to see where we were already headed with prices for this year. We are almost at the end of the our first quarter, so it is a great time to look at this information.

The least expensive sale in 2006?

A home sold in Forbes Creek for $385,000. Forbes Creek is a PUD, a planned unit development. These homes are similar to condo neighborhoods as some of the homes have shared walls with the neighbors. There are home owners' dues, codes, and covenants. Legally, the home owners own the land sitting under the homes, so the homes are classified as single family homes.

The least expensive free standing home was in Waterwheel Park, adjacent to Forbes Creek. Waterwheel Park was built in the late 80's by Panterra. Panterra was a fairly active builder in Kirkland during that time. This home sold for $409,900 and had 1460 square feet.

The least expensive Highlands closed sale so far in 2007?

A rambler sold in Edwards Place for $454,500. This rambler was 1480 square feet, a 9% increase over last year's most affordable sales price.


The most expensive Highlands sale in 2006?

This home was in the new neighborhood of Altezza, the Mediterranean style homes located by 112th Ave NE. The most expensive home sale was $1,335,000 for a new home with a great view. These homes were built by C. P. Granger.

The most expensive sale in the Highlands for 2007?

Again, it's a home in Altezza. The last home in Altezza sold in January for $1,106,150, less expensive than the previous Altezza sale, but the last one in the plat.


My take on prices:

All of the closed sales for the first quarter were on the market at the end of last year. Our market was a little slower then, so it will be interesting to see the true price increases as the year progresses. I do not believe the high end is down in value, I think this sale just happened to be our one sale in the high end ao far this year.