As we enter 2008, let’s take a quick peek in the rear view mir­ror, specif­i­cally at Kirk­land con­dos by two zip codes: 98033 (down­town Kirk­land and mostly west of I-405) and 98034 (fur­ther north, like Juanita area and east of I-405, like Kings­gate area).

98033 Zip Code Kirk­land Condo Sales

Sales in this more expen­sive and, thus more pres­ti­gious, of the two zip codes peaked in March and dropped off con­sid­er­ably after July. This is not abnor­mal but the arrival of the first bad news about the sub-prime mort­gage surely played a role in the rate of the drop in sales.

98034 Zip Code Kirk­land Condo Sales

In the 98034 zip code, sales show an unusual three 4-month cycle with the first peak in March (nor­mal) and a sec­ond peak in Augusts — per­haps the “last hur­rah” for the year. After Sep­tem­ber, the mort­gage malaise, real or imag­ined, put sales in a steeper than usual decline.

More of the same for Kirk­land Sin­gle Fam­ily Homes to follow.