eastside market review · mercer island mid island 4830 88th place se $1,395,000 5 bed / 3.5 bath /...

Q2 Eastside real estate statistics for the second quarter of 2017

Eastside Market Review

2017 Q2 OV ERV IE W

It was another month of record-setting home prices in June as the area yet again took the prize for the hottest real estate market in the country. In a bright spot for buyers, the number of new listings added in June was the highest total for any single month since

May 2008. While inventory is still low, the pace of sales is slowing and the number of multiple offers are down, suggesting that we may soon see a slight reprieve from the last year of rapid-fire growth.

The median price of a single-family home on the Eastside soared 19 percent from a year ago to a new record-high of $885,000. Despite that increase, multiple offers—while down—are still common. With most buyers presenting offers on multiple properties before purchasing a home, working with a broker to create a strong strategic plan, clear negotiating parameters, and a streamlined offer are critical for success.

2[ Cover photo: listing #1118559 on page 16 ]

https://www.windermere.com/listing/57456222

• Eastside (Areas 500-600) .................................................................................................... 4• Bellevue:

• Bellevue / East of I-405 .............................................................................................. 6

• Bellevue / West of I-405 ............................................................................................ 8

• Eastside / South of I-90 ............................................................................................10

• East of Lake Sammamish / Issaquah ........................................................................12

• Kirkland / Bridle Trails .........................................................................................................14

• Mercer Island .............................................................................................................................16

• Redmond / Carnation ..........................................................................................................18

• Renton Highlands ...................................................................................................................20

• Woodinville / Juanita / Duvall .......................................................................................22

• Market Share ..............................................................................................................................24

• Why Windermere ...........................................................................................................25–27

• Local Expertise, Global Connections ......................................................................28

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3

Medina1849 77th Ave NE

$3,298,0004 Bed / 3.0 Bath / 3,810 SQFT

MLS #: 1118644

Lot Size: 0.59 acres

Year Built: 1969

Style: 1 Story

Views: City, Golf Course, Territorial

School District: Bellevue

Eastside (Areas 500-600)

High Price Listing

Pine Lake3518 221st Ave SE

$715,0004 Bed / 3.0 Bath / 2,197 SQFT

MLS #: 1160485


Year Built: 1978

Style: Split Entry

Views: Territorial

School District: Issaquah

Low Price Listing

Issaquah16453 Issaquah-Hobart Rd SE

$1,089,000 3 Bed / 2.25 Bath / 3,570 SQFT

MLS #: 1146429

Lot Size: 2.0 acres

Year Built: 1963

Style: 2 Story

Views: Territorial, Mountain


Medium Price Listing

4




Graphs were created by Windermere Real Estate using NWMLS data, but information was not verified or published by NWMLS. Data reflects all new and resale single-family residences sold.

2017 Q2

Median Closed Sales Price > JUNE

Closed Sales > JUNEMonths Supply of Inventory > JUNE(includes pending sales)

less than 3 months = seller’s market

3 -6 months = balanced market

more than 6 months = buyer’s market

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

2016 2017 10 year average

$626,500

$538,000 $550,000$510,000 $512,500

$591,825$630,000

$670,000

$746,500

$885,000

-14% +2% -7% 0% +15% +6% +6% +11% +19%

1.10.8

2.9


938 944

747

All figures are based on single family home sales, which include townhomes and exclude condos.

5

Glendale13630 SE 1st St

$2,578,9906 Bed / 5.0 Bath / 5,420 SQFT

MLS #: 1150669


Year Built: 2017

Style: 2 Story with Basement

Views: Territorial


Bellevue / East of I-405

High Price Listing

Lake Hills16122 SE 5th St

$750,0004 Bed / 3.0 Bath / 2,060 SQFT

MLS #: 1153583

Lot Size: 8,640 sqft

Year Built: 1958

Style: Split Entry

Views: Territorial


Low Price Listing

College Hill13647 SE 10th St

$1,000,000 5 Bed / 2.75 Bath / 3,110 SQFT

MLS #: 1159435


Year Built: 1958

Style: 2 Story

Views: Territorial, Mountain, City



6





2017 Q2


Closed Sales > JUNEMonths Supply of Inventory > JUNE(includes pending sales)




2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


$575,000

$507,000 $496,500

$433,750 $450,000

$550,000

$606,500$645,000

$715,000

$916,650

-12% -2% -13% +4% +22% +10% +6% +11% +28%

0.8

0.5

1.9


96

84

69


7

Bellevue / West of I-405

Medina1405 Evergreen Point Rd

$5,500,0004 Bed / 3.75 Bath / 5,020 SQFT

MLS #: 1115430


Year Built: 2002

Style: 2 Story

Views: Territorial


High Price Listing

Clyde Hill9640 NE 32nd St

$2,950,000 5 Bed / 4.0 Bath / 5,030 SQFT

MLS #: 1125965


Year Built: 1964


Views: Territorial


Low Price Listing

Evergreen Point2615 Evergreen Point Rd

$3,988,0004 Bed / 4.0 Bath / 4,785 SQFT

MLS #: 1135311


Year Built: 1992

Style: 2 Story

Views: Territorial



8





2017 Q2


9

Months Supply of Inventory > JUNE(includes pending sales)





Closed Sales > JUNE

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


$1,285,000$1,175,000

$980,000$1,037,500

$943,750

$1,137,000

$1,664,000

$1,811,250$1,902,500

$2,200,000

-9% -17% +6% -9% +20% +46% +9% +5% +16%

2.01.5

4.1


51 53

40

Eastside / South of I-90

Newcastle7810 155th Ave SE

$2,000,0004 Bed / 4.0 Bath / 5,652 SQFT

MLS #: 1139531


Year Built: 2006

Style: 2 Story

Views: Territorial, Golf Course


High Price Listing

Forest Ridge6517 148th Ave SE

$800,0003 Bed / 2.5 Bath / 2,185 SQFT

MLS #: 1159151


Year Built: 1989

Style: 2 Story

Views: Territorial


Low Price Listing

Forest Ridge15447 SE 67th St

$1,150,0004 Bed / 2.5 Bath / 2,970 SQFT

MLS #: 1155360


Year Built: 1992

Style: 2 Story

Views: None



10









2017 Q2



Closed Sales > JUNE

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


$694,000

$569,537

$650,000

$530,000$550,000

$599,000

$659,500$688,000

$838,724

$950,000

-18% +14% -18% +4% +9% +10% +4% +22% +13%

0.91.1

3.1


122 121

97

11

East of Lake Sammamish / Issaquah

Sammamish1728 238th Ave SE

$1,850,0004 Bed / 2.75 Bath / 4,485 SQFT

MLS #: 1142224


Year Built: 1988

Style: 2 Stories with Basement

Views: Territorial


High Price Listing

Issaquah Highlands1753 27th Lane NE

$690,0003 Bed / 2.25 Bath / 1,700 SQFT

MLS #: 1159712


Year Built: 2006

Style: 2 Story

Views: Mountain


Low Price Listing

Sammamish2407 246th Place NE

$925,0004 Bed / 2.5 Bath / 3,090 SQFT

MLS #: 1155281

Lot Size: 0.5 acres

Year Built: 1993

Style: 2 Story

Views: None

School District: Snoqualmie Valley


12









2017 Q2



Closed Sales > JUNE

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


$607,500

$531,000 $540,000$509,500 $494,500

$563,550$599,000

$625,000

$722,500

$844,500

-13% +2% -6% -3% +14% +6% +4% +16% +17%

0.9 0.8

2.8


266246

203

13

Kirkland / Bridle Trails

Bridle Trails13426 NE 36th St

$2,650,0005 Bed / 4.5 Bath / 5,300 SQFT

MLS #: 1145274


Year Built: 1970

Style: 2 Story

Views: None


High Price Listing

Kirkland8725 126th Ave NE

$840,0004 Bed / 3.0 Bath / 2,360 SQFT

MLS #: 1150055


Year Built: 1983

Style: Split Entry

Views: Territorial

School District: Lake Washington

Low Price Listing

Rose Hill8031 128th Ave NE

$1,540,0004 Bed / 2.5 Bath / 3,167 SQFT

MLS #: 1150556


Year Built: 2017

Style: 2 Story

Views: None



14





2017 Q2


15






Closed Sales > JUNE

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


$640,000$589,500

$638,000$604,000

$645,000$604,000

$800,000$845,600

$875,000

$1,146,750

-8% +8% -5% +7% -6% +32% +6% +3% +31%

1.0 0.9

3.0


8578

66

Mercer Island

Mid Island4830 88th Place SE

$1,395,0005 Bed / 3.5 Bath / 3,520 SQFT

MLS #: 1152479


Year Built: 1979


Views: None

School District: Mercer Island

High Price Listing

Mercer Island6211 77th Ave SE

$6,500,0003 Bed / 2.5 Bath / 4,020 SQFT

MLS #: 1118559


Year Built: 1957


Views: Lake


Low Price Listing

South End7560 SE 71st St

$2,189,0005 Bed / 3.5 Bath / 5,040 SQFT

MLS #: 1088695


Year Built: 1974

Style: 2 Story

Views: Lake



16









2017 Q2



Closed Sales > JUNE

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


$1,090,000

$980,000

$824,750$880,975

$1,019,975$977,500 $950,000

$1,336,700 $1,321,050

$1,565,000

-10% -16% +7% +16% -4% -3% +41% -1% +18%

2.3

1.4

3.6


31

46

33

17

Redmond / Carnation

Blakely Woods1326 289th Ave NE

$1,695,0004 Bed / 5.25 Bath / 5,975 SQFT

MLS #: 1093137


Year Built: 2003


Views: None


High Price Listing

Ames Lake3605 289th Ave NE

$659,0003 Bed / 2.5 Bath / 3,250 SQFT

MLS #: 1107881


Year Built: 2008


Views: Territorial


Low Price Listing

Broadhurst25424 NE 39th Wy

$900,0005 Bed / 2.5 Bath / 2,900 SQFT

MLS #: 1135926


Year Built: 1998

Style: 2 Story

Views: Territorial



18









2017 Q2



Closed Sales > JUNE

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


$689,950

$520,500$498,500

$429,000

$572,000 $581,257

$655,000$697,500 $677,525

$880,000

-25% -4% -14% +33% +2% +13% +6% -3% +30%

1.0 0.9

3.4


90 90

77

19

Renton Highlands

Kennydale3907 Lake Washington Blvd N

$2,488,0002 Bed / 2.5 Bath / 2,210 SQFT

MLS #: 1152971


Year Built: 2006

Style: 2 Story

Views: Lake

School District: Renton

High Price Listing

Highlands851 Pierce Ave NE

$314,9993 Bed / 1.0 Bath / 960 SQFT

MLS #: 1145927


Year Built: 1954

Style: 1 Story

Views: None


Low Price Listing

Kennydale1911 NE 29th Ct

$570,0003 Bed / 2.75 Bath / 1,900 SQFT

MLS #: 1155186


Year Built: 1988

Style: Tri-Level

Views: Territorial



20









2017 Q2



Closed Sales > JUNE

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


$447,569

$366,975$342,375

$296,500 $290,450

$420,000$391,225

$409,200

$525,000$545,000

-18% -7% -13% -2% +45% -7% +5% +28% +4%

0.90.6

2.7


93103

80

21

Woodinville / Juanita / Duvall

Lake Of The Woods13100 211th Way NE

$2,185,0004 Bed / 5.0 Bath / 5,008 SQFT

MLS #: 1140563


Year Built: 2000

Style: 2 Story

Views: Territorial


High Price Listing

Low Price Listing

Sonoma13077 NE 186th St

$825,0003 Bed / 2.5 Bath / 3,271 SQFT

MLS #: 1156237


Year Built: 2005

Style: 2 Story

Views: None

School District: Northshore


22

Kirkland11003 112th Ave NE

$525,0002 Bed / 1.75 Bath / 1,060 SQFT

MLS #: 1160675


Year Built: 1986

Style: 1 Story

Views: Territorial










2017 Q2



Closed Sales > JUNE

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


$510,000

$450,000

$406,000$378,800

$400,000

$485,000

$526,000 $528,444

$625,000

$705,500

-12% -10% -7% +6% +21% +8% 0% +18% +13%

1.1

0.6

2.9


197

226

161

23

Market Share by Company 2016

Windermere

John L. Scott

Coldwell Banker

RE/MAX

Keller Williams

Redfin

Skyline

Sotheby’s International Realty

The Cascade Team

RSVP Real Estate

5% 10% 15% 20% 25% 30% 35%

27%19%

12%11%

10%9%

7%7%

6%7%

Representing Sellers Representing Buyers

Eastside > by number of transactions

Companies not shown have less than 1% market share in buyers or sellers or both.

2%6%

2%2%

3%5%

2%1%

Graphs were created by Windermere using NWMLS data, but information was not verified or published by NWMLS. Data reflects all new and resale single-family residences and condominiums sold from 1/1/2016–12/31/2016 in areas 500, 510, 520, 530, 540, 550, 560, 600.

Bellevue, Bothell, Duvall, Issaquah, Kenmore, Kirkland, Mercer Island, Newcastle, North Bend, Redmond, Sammamish, Snoqualmie, Woodinville, and surrounding neighborhoods.

2%1%

24

Why Windermere

The Sign in Your Yard Matters

A recent study shows that NWMLS brokers in King County are more confident working with Windermere brokers than any other brand.

Percent of respondents indicating they were completely confident or confident in doing a transaction.

The study was conducted by a third party in 2015 and included brokers who closed six or more transactions in the previous year.

Windermere

Coldwell Banker

John L. Scott

RE/MAX

Sotheby’s International Realty

Keller Williams

Lake & Company

Berkshire Hathaway

Gerrard Beattie & Knapp

Redfin

The Cascade Team

The Force Real Estate

RSVP Real Estate

10% 20% 30% 40% 50% 60% 70% 80% 90%

81%

71%

16%

9%

9%

9%

64%

54%

48%

45%

43%

34%

27%

25

Multiple offers? Your broker can make or break your deal.

26*Multiple offers estimated at listings that sold above list price. Based on single family home sales in King County in 2016. New construction, condominiums and short sales were excluded.

**Based on a 2015 independent study of NWMLS brokers who closed six or more transactions in the previous year.

Buyers working with a Windermere broker are 15% more likely to be the selected buyer in multiple offers.*

Why Windermere brokers are most successful:• Windermere brokers help position their buyer’s offer to have the greatest appeal to the seller.

• Windermere brokers receive extensive training on how to create the most competitive offer and negotiate successfully in a multiple offer situation..

• Brokers are more confident in completing a transaction with a broker from Windermere than they are with any other real estate company.**

Success in multiple offers*Change in buyer market share in multiple offers vs. non-multiple offers.

53% of home sales involve multiple offers.*

Windermere

Skyline Properties

Redfin

Keller Williams

RE/MAX

The Force Realty

Coldwell Banker

Berkshire Hathaway

Sotheby’s

0.6%

0.3%

3%

0.3%

0.2%

0.2%

0.1%

-0.1%

-0.3%

-1.4%John L. Scott

TOP T EN FIRMS CHOSEN BY BUYERS

Acres of DiamondsProvides homeless women and children a safe haven and academic, relational and emotional mentoring.

Assistance League of the EastsideOperation Scholl Bell provides new Back-To-School clothing for disadvantaged students on the Eastside.

Attain HousingTransitioning homeless families with children into stable, permanent housing.

Backpack MealsProvides weekend’s worth of food to low income students in the Bellevue School District.

Bellevue Lifespring (formerly Overlake Service League)Provides meals to children on free and reduced cost lunch programs when school is not in session.

Birthday DreamsProvides Birthday-In-A-Box to homeless children.

Boys & Girls Club of BellevueFunds going to Project Learn — serving kids from 3 East Bellevue low-income housing developments.

Congregation for the Homeless/Valley Renewal CenterProvides food, toiletries, clothing, blankets, etc. to homeless families.

Eastside AcademyPays for food expenses for homeless and poverty-level students while they attend this alternative school.

Eastside Baby CornerDistributes basic need items for infants and children.

HopelinkSupports the Pantry Pack Program which provides lunches to poverty-level children.

Imagine HousingTargets under 18-year-olds in their Support Services Program that provides affordable housing and life skill case management in East King County.

Issaquah Community ServicesProvides emergency aid in the form of utility payments to low-income families.

KinderingProvides parent coaching at transitional housing sites.

LifeWire (formerly Eastside Domestic Violence)Provides emergency housing and support services for those fleeing abusive home situations.

Mamma’s HandsThe House of Hope program supports three shelters for homeless women and children in crisis.

Royal Family Kids CampProvides summer camp experiences for abused foster children.

TreehouseSupports the Little Wishes Program which allows foster care youth to participate in extracurricular arts, athletic and other educational experiences.

Youth Eastside ServicesSupports YES Lifeline, which provides free mental health counseling and substance abuse treatment.

The Windermere Foundation benefits local nonprofits in our neighborhoods. Together we can give homeless and low-income children in our communities an opportunity for a brighter future. Below are the nonprofits that received Eastside Windermere Foundation funds in 2016.

A Brighter Future Because of You!

2016 Donation Grantees List Eastside Windermere Foundation

27

windermere.com

Local Expertise, Global Connections, Powerful Marketing

We Market Your Property to the World

When selling your home, you need global exposure in addition to the strong marketing expertise we deliver locally. As an affiliate of Leading Real Estate Companies of the World®, we have the resources to market your property to the highest possible number of potential buyers. With 120,000 talented associates around the world, we expose your property to buyers on six continents, ensuring more eyes on your property. In addition, we receive inbound clients from other affiliates around the globe who are interested in purchasing a home.

Leading Real Estate Companies of the World® is a pedigree denoting the very best companies who represent qualified clientele and wish to do business with similar firms. Each year our network is collectively responsible for over one million transactions on a global basis.

When your home is posted to our website locally, it is immediately promoted on the LeadingRE.com website. It is also immediately connected to the websites of over 500 of our affiliated real estate firms in the world.

®

®

WE MARKET YOUR PROPERTY TO THE WORLDWhen selling your home, you need global exposure in addition to the strong marketing expertise we deliver locally. As an affiliate of Leading Real Estate Companies of the World®, we have the resources to market your property to the highest possible number of potential buyers. With 120,000 talented associates around the world, we expose your property to buyers on six continents, ensuring more eyes on your property. In addition, we receive inbound clients from other affiliates around the globe who are interested in purchasing a home.



Local Expertise, Global Connections,

Powerful Marketing

OVER 500 FIRMS n 3,500 OFFICES n 120,000 ASSOCIATES n NEARLY 50 COUNTRIESOVER ONE MILLION TRANSACTIONS n $314 BILLION IN ANNUAL HOME SALES

WORC 05/14 #14146-4

®

®





Powerful Marketing


WORC 05/14 #14146-4

®

®





Powerful Marketing


WORC 05/14 #14146-4

http://www.windermere.com

http://www.windermere.com

eastside market review · mercer island mid island 4830 88th place se $1,395,000 5 bed / 3.5 bath /...

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