eastside market review · 2018-05-21 · graphs were created by windermere real estate using nwmls...

Q1 Eastside real estate statistics for the first quarter of 2018

Eastside Market Review

2018 Q1 OV ERV IE W

The available supply of homes on the Eastside continued to

fall far short of demand in the first quarter of 2018. With just

two weeks of available inventory, competition for homes

remained intense. The result was a steady growth in home prices.

The median price of a single-family home hit new highs in the first

quarter and closed out the period at $926,000. Sales were brisk at

every price, including the luxury market. Sales of homes priced at

$2 million or more were up 23 percent in the first quarter of 2018 as

compared to the previous year. The region has now led the country

in home price increases for 17 months in a row. The prediction for

the spring market: hot with no signs of cooling.

2[ Cover photo: listing #1243246 on page 16 ]

https://www.windermere.com/listing/76002263

• 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

[ click on area to jump to that page ]

3

Eastside (Areas 500-600)

High Price Listing

Woodinville5519 240th St SE

$799,9503 Bed / 2.5 Bath / 2,419 SQFT

MLS #: 1271246

Lot Size: 0.92 acres

Year Built: 1988

Style: 11/2 Story

Views: Territorial

School District: Northshore

Low Price Listing

4

Medina7653 NE 10th St

$4,998,0004 Bed / 5.25 Bath / 6,750 SQFT

MLS #: 1231895


Year Built: 1938

Style: 2 Stories with Basement

Views: None

School District: Bellevue

Plateau24116 NE 1st Place

$1,398,900 5 Bed / 4.25 Bath / 4,680 SQFT

MLS #: 1265935


Year Built: 2003


Views: Territorial

School District: Lake Washington

Medium Price Listing




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.

2018 Q1

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

5

Median Closed Sales Price > MARCH

Closed Sales > MARCHMonths Supply of Inventory > MARCHless than 3 months = seller’s market3 -6 months = balanced marketmore than 6 months = buyer’s market

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

$504,500 $495,000 $497,150$470,000

$552,415$599,950

$632,554

$739,440

$870,000$926,000

-2% 0% -5% +18% +9% +5% +17% +18% +6%

2017 2018 10 year average

0.7

2.3

0.7


+1%

557522

553

Lake Sammamish3016 W Lake Sammamish Pkwy SE

$3,598,0005 Bed / 3.75 Bath / 5,360 SQFT

MLS #: 1246140


Year Built: 1979

Style: 2 Story

Views: Lake, Mountain


Bellevue / East of I-405

High Price Listing

Microsoft Condo/Townhouse15829 Northup Way 25

$650,0002 Bed / 1.75 Bath / 1,302 SQFT

MLS #: 1260813


Year Built: 1987

Style: Condo 2-level unit

Views: None


Low Price Listing

West Lake Sammamish672 W Lake Sammamish Pkwy NE

$1,498,000 2 Bed / 1.75 Bath / 1,010 SQFT

MLS #: 1264068

Lot Size: 9,934 SQFT

Year Built: 1958

Style: 1 Story

Views: Territorial, Mountain, Lake



6





2018 Q1


7



2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

$450,000$478,500 $475,000

$409,400

$523,500 $506,000$554,500

$745,000

$830,000

$921,500

+6% -1% -14% +28% -3% +10% +34% +11% +11%


0.4 0.4

1.6


47

34

47

Bellevue / West of I-405

Medina1637 77th Ave NE

$7,288,0006 Bed / 6.0 Bath / 8,531 SQFT

MLS #: 1244866


Year Built: 2016


Views: Territorial


High Price Listing

Bellevue3008 113th Ave SE

$2,198,000 5 Bed / 3.25 Bath / 3,629 SQFT

MLS #: 1253760


Year Built: 2016

Style: Tri-Level

Views: Territorial


Low Price Listing

Downtown1307 99th Ave NE

$3,398,0005 Bed / 4.75 Bath / 5,386 SQFT

MLS #: 1253651


Year Built: 2014


Views: Mountain, Territorial



8





2018 Q1


9



2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

$717,500 $706,500

$940,000$1,025,000

$1,262,500 $1,221,000

$1,782,500 $1,799,975

$2,198,000

$2,505,000

-2% +33% +9% +23% -3% +46% +1% +22% +14%


2.2

1.7

3.1


31 27 30

Eastside / South of I-90

Somerset4651 138th Ave SE

$2,598,0004 Bed / 3.0 Bath / 3,315 SQFT

MLS #: 1248514

Lot Size: 0.3 acres

Year Built: 1976

Style: Multi Level

Views: City, Lake, Mountain, Sound


High Price Listing

Tiger Mountain24320 SE Tiger Mountain Rd

$708,0002 Bed / 2.0 Bath / 1,600

MLS #: 1268266

Lot Size: 5 acres

Year Built: 1962

Style: 1 Story

Views: Territorial

School District: Issaquah

Low Price Listing

Lakemont5752 159th Place SE

$1,500,0005 Bed / 3.5 Bath / 3,832 SQFT

MLS #: 1264586


Year Built: 1996


Views: Territorial



10





2018 Q1


11



2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

$600,000$565,000

$515,000$562,500 $560,000

$599,975

$723,000 $736,500

$930,000

$1,000,000

-6% -9% +9% 0% +7% +21% +2% +26% +8%


1.00.6


64 67 68

2.2

East of Lake Sammamish / Issaquah

East Lake Sammamish505 289th Ave NE

$1,995,0005 Bed / 5.5 Bath / 6,760 SQFT

MLS #: 1269424


Year Built: 1998

Style: 2 Story

Views: None

School District: Snoqualmie Valley

High Price Listing

Providence Point22618 SE 44th Place

$545,0002 Bed / 2.5 Bath / 2,198 SQFT

MLS #: 1271876


Year Built: 1996

Style: Condo 1 Level Unit

Views: Territorial


Low Price Listing

Sammamish23825 SE 44th Ct

$1,225,0004 Bed / 2.5 Bath / 3,480 SQFT

MLS #: 1261352

Lot Size: 0.5 acres

Year Built: 1989

Style: 2 Story

Views: Territorial



12





2018 Q1


13



2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

$530,000$488,000 $509,990

$479,900$525,000

$577,216 $592,587

$712,500

$850,633$899,000

-8% +5% -6% +9% +10% +3% +20% +19% +6%


0.5 0.5

2.4


158171

139

Kirkland / Bridle Trails

West Of Market232 5th Ave W

$5,395,0004 Bed / 5.0 Bath / 5,960 SQFT

MLS #: 1261856


Year Built: 2010


Views: Territorial, Mountain, Lake, City


High Price Listing

North Rose Hill12604 NE 114th Place

$750,0003 Bed / 2.25 Bath / 1,590 SQFT

MLS #: 1270500


Year Built: 1983

Style: 2 Story

Views: Territorial


Low Price Listing

Rose Hill12803 NE 112th St

$1,595,0004 Bed / 3.5 Bath / 3,787 SQFT

MLS #: 1234920


Year Built: 2018


Views: Territorial



14





2018 Q1


15



2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

$624,950$557,000 $546,000

$465,000

$694,500$600,000

$749,000

$891,450

$1,050,000

$1,376,000

-11% -2% -15% +49% -14% +25% +19% +18% +31%


0.90.7

2.9


57

4351

Mercer Island

Mercer Island4841 90th Ave SE

$1,980,0005 Bed / 2.75 Bath / 3,238 SQFT

MLS #: 1209186


Year Built: 2017

Style: 2 Story

Views: Territorial

School District: Mercer Island

High Price Listing

Eastside4338 E Mercer Wy

$6,500,0004 Bed / 4.75 Bath / 6,660 SQFT

MLS #: 1243246


Year Built: 1996

Style: 2 Story

Views: Lake, Mountain, Territorial


Low Price Listing

Mercer Island5632 E Mercer Wy

$3,788,0005 Bed / 5.75 Bath / 7,380 SQFT

MLS #: 1236796


Year Built: 2001


Views: Lake, Mountain, Territorial



16





2018 Q1


17



2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

$967,000

$800,000

$710,000

$819,000$869,000

$1,110,000 $1,100,000

$1,590,000

$1,725,000

$1,573,724

-17% -11% +15% +6% +28% -1% +45% +8% -9%


1.8

1.3

4.1


25 2822

Redmond / Carnation

High Price Listing

Carnation4009 332nd Ave NE

$765,0004 Bed / 2.75 Bath / 2,869 SQFT

MLS #: 1266388


Year Built: 2018

Style: 2 Story

Views: Territorial, Mountain

School District: Riverview

Low Price Listing

Ames Lake3036 W Ames Lake Dr NE

$1,700,0004 Bed / 3.25 Bath / 4,300 SQFT

MLS #: 1269331


Year Built: 1996


Views: Lake

School District: Snoqualmie Valley


18

Union Hill21020 NE Union Hill Rd

$2,100,0003 Bed / 2.5 Bath / 3,420 SQFT

MLS #: 1253839


Year Built: 1978

Style: 1 Story with Basement

Views: Lake






2018 Q1


19



2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

$521,500$480,000

$415,500$460,000

$549,975$589,000 $590,000

$652,500

$815,000 $794,564

-8% -13% +11% +20% +7% 0% +11% +25% -3%


0.6 0.6

2.0


4942

50

Renton Highlands

Lower Kennydale1110 N 33rd St

$1,099,0004 Bed / 3.5 Bath / 3,840 SQFT

MLS #: 1214952


Year Built: 2010


Views: Lake, Territorial

School District: Renton

High Price Listing

Windsor Hills501 Grandy Wy NE

$399,0003 Bed / 1.75 Bath / 1,060 SQFT

MLS #: 1271507


Year Built: 1943

Style: 1 Story

Views: Territorial


Low Price Listing

Renton323 Renton Ave S

$750,0005 Bed / 3.25 Bath / 3,220 SQFT

MLS #: 1269103


Year Built: 2007


Views: Territorial, Mountain, Lake, City



20





2018 Q1


21



2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

$407,500

$322,437

$268,975 $282,500

$407,000 $412,500 $426,475

$502,500 $491,500

$548,500

-21% -17% +5% +44% +1% +3% +18% -2% +12%


0.50.7

1.7


6856

67

Woodinville / Juanita / Duvall

Finn Hill Meadows8623 NE 119th St

$2,400,0004 Bed / 3.75 Bath / 5,649 SQFT

MLS #: 1238913


Year Built: 1995

Style: 1 Story with Basement

Views: City, Lake, Mountain, Territorial


High Price Listing

Low Price Listing

Duvall12425 318th Ave NE

$1,125,0003 Bed / 2.75 Bath / 2,915 SQFT

MLS #: 1249847


Year Built: 1988

Style: 2 Story

Views: Territorial



22

Duvall 27920 NE 147th Cir

$585,0003 Bed / 3.0 Bath / 2,270 SQFT

MLS #: 1261278


Year Built: 2011

Style: 2 Story

Views: None






2018 Q1


23



2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

$389,000 $400,625$425,000

$376,000$425,000

$514,995 $494,250

$590,000

$692,475

$800,000

+3% +6% -12% +13% +21% -4% +19% +17% +16%


0.6 0.7

2.1


122

145

117

Market Share by Company 2017

Eastside > by number of transactions

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 1/1/2017–12/31/2017 in areas 500, 510, 520, 530, 540, 550, 560, 600. Companies not shown have less than 1% market share in buyers or sellers or both.

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

24

OT

HER

OTHE

R

KEY

Windermere Real Estate

John L. Scott

Coldwell Banker

RE/MAX

Keller Williams

Skyline

Redfin Corp

Sothebys International Realty

The Cascade Team

Avenue Properties

Agency One

Cascadian King Company

RSVP Real Estate

Berkshire Hathaway HomeServices

Best Choice Realty

Kelly Right Real Estate

All other competitors with less than 1% market share

26%

20%

12%

10%

9%

8%

6%

7%

5%

7%

4%

7%

REPRESENTING SELLERS

REPRESENTING BUYERS

3%3%

4%2%

2%2%

1% each

2%

1% each

2%

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 women and children transitional housing and support programs to rebuild lives from domestic abuse and/or substance abuse.

Assistance League of the EastsideOperation School 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 Provides meals to children on free and reduced cost lunch programs when school is not in session.

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

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.

Escape to PeaceCreates awareness of sex trafficking of Eastside minors and helps fund a healing center.

Friends of YouthFunds emergency response and shelter, then long-term placement to children experiencing trauma or abuse in east King County.

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.

Issaquah Food BankHelps maintain a refrigerated box truck utilized as a mobile food bank to remote Eastside communities that have difficulty accessing food bank services.

KinderingProvides parent coaching at transitional housing sites.

LifeWire 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.

Pantry PacksSupports Lake Washington Schools Foundation’s program that provides weekend, child-friendly food packs to children of qualified low-income families.

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.

Village TheatreSupports outreach to the youth of low-income families so they can have access to theater and arts education, regardless of their ability to pay.

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!

2018 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 · 2018-05-21 · graphs were created by windermere real estate using nwmls...

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