Luxury home prices in Kirkland are skyrocketing, bucking a national trend.
A report by Seattle-based real estate brokerage Redfin found that double-digit luxury home price growth hit 39 percent in Kirkland in the fourth quarter, among the highest in the country. However, prices grew only 3 percent across the U.S. in markets where Redfin operates.
Redfin defines “luxury” as homes priced in the top 5 percent in a market.
The average luxury sale price in Kirkland was $2,506,600, placing the tony Seattle suburb No. 6 in the country. Miami Beach was No. 1, with an average luxury sale price of $8.3 million.
At the opposite end is Bellevue, where the average luxury home price declined 2 percent in the past year to $2.435 million, while prices rose 19 percent for non-luxury homes. Only Delray Beach, Fla., and Boulder, Colo., fared worse.