Metropolist Magazine

2017 Q3 & Q4 | VOLUME 1 | ISSUE 2

SEATTLE MARKET: Bracing for Spring

NEIGHBORHOOD SALES BREAKOUT: Year-Over-Year

PAGE 3

CASE STUDY: COMMERCIAL CONSIDERATIONS PAGE 7

PAGE 11

TABLE OF CONTENTS

SEATTLE MARKET: Bracing for Spring CASE STUDIES: Client Success Stories

BY THE NUMBERS: Single Family Homes

BY THE NUMBERS: Condo Corner NEIGHBORHOOD SALES BREAKOUT: Year-Over-Year Comparison

p. 3 p. 5-8 p. 9 p. 10 p. 11-14 COMMERCIAL PERMITTING WAIT TIMES ON THE RISE Case Study 3

p. 7

A SELLER WINS BIG Case Study 1

p. 5 CASH NOT ALWAYS KING Case Study 2

p. 6

1 | METROPOLIST | metropolistgroup.com

LETTER FROM THE FOUNDERS

HELLO AND WELCOME TO METROPOLIST MAGAZINE WHY METROPOLIST? Integrity matters. Pricing a property properly and ethically matters. Implementing a strong strategy and helping a seller navigate what remains to be a complex process is key to success in any market.

Advocacy matters. Especially true for buyers in the Greater Seattle area. If you are moving to Seattle, or choosing to buy vs. rent, save yourself hundreds of hours and preserve your stress levels by working with a proven expert from our firm.

Results matter. We’re proud to share that we’ve landed in 16th position among Seattle real estate firms, based on our brokers’ sales volume in our 3rd year in business.

WHY DOES THIS MATTER TO YOU? Our team is able to find and produce success for our buyers and sellers in a very tough market.

Knowing where you stand matters. Maybe you are just interested in the market. This is still for you.

• Get in touch with a broker, we’ll walk you through this report, page by page • Get connected for listing notifications and pictures, SODO events, and more at metropolistgroup.com, on Instagram, Facebook, Twitter, and YouTube • Tour our space in person Because you matter, DOMENICA LOVAGLIA

JENNIFER NELSON

CHAD ZINDA

DIRECTOR OF MARKETING

DIRECTOR OF EDUCATION

DESIGNATED BROKER

P.S. LOOKING FOR A SMOOTH RIDE THROUGH THE RAPIDS OF THE SEATTLE MARKET? If you are considering buying or selling a property, you’ll want to spend a bit of time reviewing the data and the notable Client Success Stories that came from our firm during the second half of 2017. Consider this report just one of the many tools we provide to help you and your trusted Metropolist broker develop a winning strategy for your next listing or purchase of a property.

metropolistgroup.com | METROPOLIST | 2

SEATTLE MARKET

BRACING FOR SPRING At times 2017 felt like a whirlwind in the Seattle housing market. At times it seemed like a log jam. So, what’s to come in 2018?

WELL, THE FINAL QUARTER OF 2017 FOUND A CERTAIN CALM The market cooled ever so slightly, enough to create some breathing room for both buyers and sellers.

While Seattle remains one of the nation’s top real estate markets, it has become just a bit more functional from a supply and demand perspective. A little more inventory, a skosh fewer people frantic to buy. Just a bit of room to move. Literally.

OUR REGION STILL LEADS THE NATION IN HOME PRICE INCREASES SINCE OCTOBER 2016 That’s 14 months in a row of double the national average in home price increases. But it seems that the rate of increase peaked earlier in the Fall and the Northwest Multiple Listing Service (NWMLS) data even shows a slight dip in sales prices toward the end of 2017, likely seasonal of course. Even if the trajectory of slowing gains continues, Seattle should see double digit increases throughout much of 2018.

Moving into the Spring we will see a bit more inventory available and a quickening of the market as people begin to emerge from the Winter darkness. At the start, NWMLS reports the overall region’s months of inventory to be 2.5 months. King County stands at 1.1 months of available homes and the City of Seattle just under 1 month.

43% INCREASE IN NEW CONSTRUCTION PERMITS FROM 2016 TO 2017 7664 2017

NUMBER OF NEW CONSTRUCTION PERMITS

2016

4816

1609 706 710

SINGLE FAMILY

3 | METROPOLIST | metropolistgroup.com

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THE BIG THING ON MANY PEOPLE’S MINDS IS THE INCREDIBLE GROWTH & DEVELOPMENT STILL GOING STRONG IN THE CITY OF SEATTLE AND BEYOND We have been talking to Ethan Phelps-Goodman at SeattleInProgress.com and the number of single family home permits active in Seattle is mind boggling. So much so that we can’t even show you an effective visual because it would just be a map full of bubble dots!

What we can note is that the total number of new building permits in 2017 was 43% higher than new permits in 2016. And there are over 22,000 units permitted but not yet built. Of course not all of your nin ext2018 home but finanit ceis d bindicative y a lender wiof th p ven strelot ng tof h and stability. that building will happen arowhole Caliber Hodevelopment me Loans, Inc. in is our a nacity, tionalacross mortgagall e lesectors, nder and in serthe vicernear with term. a uniquely innovative approach

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Direct Mobile 2425-278-5219 06-953-8018 Mobile 10900 N206-953-8018 E 8th Street 10900 Suite 78NE 0 8th Street Ste 780 Bellevue, WA Bellevue, W A 998004 8004 Mitzi.Verlinde@caliberhomes.com Mitzi.Verlinde@caliberhomeloans.com www.mitziverlinde.com www.mitziverlinde.com

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Source: *Source*: M orgageMortgage ExecutiveExecutive MagazineMagazine, , Q1 2017 Q1 ** Rankings Source: Inside Mortgage Finance **Rankings Source: Inside Mortgage Finance Caliber Home Loans, Inc., 1525 S. Beltline Rd Coppell, TX 75019 NMLS ID #15622 (http://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/15622). 1-800-401-6587.

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01

metropolistgroup.com | METROPOLIST | 4

CASE STUDY // A SELLER WINS BIG

REAL VALUE | REAL RESULTS SET TO WORK WITH REDFIN, SELLER CHOOSES METROPOLIST INSTEAD Randy Olbrich is convinced that broker Chad Zinda got at least 80k more for his 1-bedroom Belltown condo than he would’ve gotten with Redfin.

In early Spring, Olbrich witnessed the sale of his fiancée’s Belltown condo. The Seattle market was white hot, with rampant stories of multiple offers and properties “selling themselves.”

What he witnessed was an initial list price that seemed too high, no bidding war and ultimately only one offer.

Months later, he met with the same Redfin broker regarding his own similarly beautiful condo. The broker suggested a strangely low initial list price and recommended they not stage the property. These were big red flags.

MEET RANDY: Olbrich has several broker friends, including Metropolist broker Chad Zinda. Olbrich was hesitant to use any of his friends as his broker, plus, he questioned if he’d make up the broker commission in a higher sale price.

THE REAL VALUE Looking back, Olbrich noted exactly where the biggest value came in working with Zinda: $

IST L R E V O 0 0 0 , 5 $9

NEEDED CHANGE Upon reflection he realized that a sale of this magnitude deserved the best broker he could find and decided to work with Chad Zinda.

The first offer came in before the review date at $50k higher than list price and Olbrich was ready to accept.

Zinda suggested moving up the review date and calling all of the buyers’ brokers who had expressed interest. Real value, and real results came in Zinda’s responsiveness, timing and communication skills under pressure.

“Chad has a bubbly, friendly personality that is also professional and approachable.

It helps,” shared Olbrich.

Helps, indeed. The condo sold for $95k over list price.

“I made much more money with Chad,” said Olbrich. “I’m convinced he got at least 80k more for it than I would’ve gotten with Redfin.”

5 | METROPOLIST | metropolistgroup.com

1. The initial list price was “on the bridge” 2. Help finding a staging company 3. Care and work in finessing the offers

I MADE MUCH MORE MONEY WITH CHAD

CASE STUDY // CASH NOT ALWAYS KING

STRATEGY FOR THE WIN! HOW BROKERS-TURNED-HOMEBUYERS BEAT A CASH OFFER… & HOW YOU CAN TOO The Austin & Martin Real Estate team knows that you do have a shot at landing a home, even if you’re first time buyers going up against cash offers.

CASH MAY BE KING FOR SOME SELLERS, BUT NOT ALL Emily Austin and Eric Martin knew that going against cash offers was a possibility.

They knew 1) they would have to move fast when they found the right house, and 2) they’d need to focus on homes they’d actually have a shot at winning.

ABOUT FINANCING They weren’t as strong compared to a potential cash offer, so they...

• Held a little of their down payment funds back so they could be put toward a low appraisal, if needed, reducing the seller’s risk.

• Offered a bit over asking price. A generous and psychologically appealing gesture to a seller (the cash offer came in at list price).

• Asked for their lender’s support. Mitzi Verlinde of Caliber Home Loans called the listing broker before the offer was submitted to say: A&M were serious buyers, well-qualified and able to close. Cash won’t always be the deciding factor in a transaction... it wasn’t for Austin & Martin. They won with an offer just above the competing cash offer. So, if you really want the house and your broker feels you have a good shot at winning, work together to make each aspect of your offer as appealing to the seller as possible.

STRATEGIC PLANS TO ELEVATE THE QUALITY OF THEIR OFFER’S APPEAL:

Contacting the listing broker builds rapport immediately and helps maintain a positive, professional interaction throughout the process

A pre-inspection eliminates the need for an inspection contingency

A clean, well crafted offer is easy for the seller to accept

metropolistgroup.com | METROPOLIST | 6

CASE STUDY // COMMERCIAL PERMITTING

COMMERCIAL CONSIDERATIONS MAXIMIZE EFFICIENCY WHEN CITY PERMITS ARE DELAYED Metropolist Commercial Broker, Ananda Gellock, weighs in on the worsening bottleneck regarding the permitting process for commercial buildouts in the City of Seattle. In the last 6 months, wait times for permits have nearly doubled. Delays are costly. Here are her recommendations for prospective commercial tenants and landlords too.

LANDLORDS: CONSIDER A FUNDAMENTAL SHIFT IN THE PROCESS “There is a real opportunity here to change “There is one local developer that I know the way retail tenants are selected. Rather who does this very well. His commercial than the current process of ‘build it and tenants are thriving and the residents they will come and deal with the constraints’ upstairs are without complaint. As a of what is delivered (which includes going result the building will produce greater up against the City on their own), it’s income over time because as both types of possible that more projects can be curated tenants turn over, the landlord has a truly well in advance. Imagine the difference of functional and well thought out design that including the tenant and their architect and makes transitions less problematic.” broker in the building’s design phase.

IN THE LAST 6 MONTHS WAIT TIMES FOR TENANT IMPROVEMENT PERMITS HAVE NEARLY DOUBLED

7 | METROPOLIST | metropolistgroup.com

CASE STUDY // COMMERCIAL PERMITTING

PROSPECTIVE TENANTS: GET THE RIGHT BROKER WITH THE RIGHT EXPERTISE & RELATIONSHIPS “Most prospective tenants are unaware broker as early in the process as possible of how much a broker can help them in and make your plan with them.” getting started. The best plan is to engage a “Most brokers are underutilized,” Gellock broker with matching expertise to the type notes. “A broker who has expertise in an area of property you seek. For example, don’t has valuable relationships and connections engage a residential broker for commercial that can be key in helping your project, and properties; don’t engage an office broker ultimately your business, progress much to help you find and navigate the process faster than someone who has to learn along of landing a restaurant property. Find your the way at your expense.”

weddings

|

meetings

|

fundraisers

|

corporate events

e v e n t s @ m e t r o p o l i s t g r o u p . c o m | 2 0 6 - 6 2 3 - 5 11 8

metropolistgroup.com | METROPOLIST | 8

BY THE NUMBERS // SEATTLE METRO SINGLE FAMILY HOMES

SINGLE FAMILY HOMES Data is meaningless without context. The relevance of this information is different for a seller, a buyer, or someone just checking in on their investment. This report serves as an overview of the market and a conversation starter.

Your broker is a great person to discuss the relevance for you.

As 2017 came to an end you can see that there were significantly fewer homes on the market and only a slight dip in sales compared to 2016. Consequently, we have experienced a swift Winter market again this year with less than 2 weeks of inventory and stable prices. It’s looking like the Spring market could come early in 2018!

1044

1018 960

934 841 852

812 822

795

783

732

709 586 436

417

683

826 756

793

677

663

572

552

514 419

759

468

466 461

292

10/16

11/16

12/16

1/17

2/17

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

12/17

MONTHS OF INVENTORY

MONTHS OF INVENTORY A healthy balanced market is somewhere around 6 months of inventory available, in a brisk market maybe a little less.

HIGHER = BUYER’S MARKET LOWER = SELLER’S MARKET With only 0.4 months of inventory we are experiencing an even deeper seller’s market than we were earlier in the year.

MEDIAN HOME PRICES The median sales price hit $735k in June, $100k higher than June of 2016. Prices leveled in the latter part of the year but Spring may bring prices back up.

1.0

1.0 0.9

0.9

0.8

0.8

0.8

0.7

0.7 0.6

0.6

0.7

0.6

0.6 0.4

10/16 11/16 12/16 1/17 2/17 3/17 4/17 5/17 6/17

7/17 8/17 9/17 10/17 11/17 12/17

MEDIAN SOLD PRICE

675 680 601 605

699

717

735 725

710

715

721

725

709

639 625

10/16 11/16 12/16 1/17 2/17 3/17 4/17 5/17 6/17 7/17 8/17 9/17 10/17 11/17 12/17 All figures are based on single family home sales, which include townhomes and exclude condos. Graphs were created by METROPOLIST using NWMLS data and Trendgraphix, but information was not verified or published by NWMLS. Data reflects all new and resale single-family residences sold.

9 | METROPOLIST 10 METROPOLIST | metropolistgroup.com | metropolistgroup.com

BY THE NUMBERS // SEATTLE METRO CONDOS

MILLIONAIRE MILLENIALS VS. EMPTY NESTERS We continue to see record low condo inventory, and have buyers chomping at the bit to get into a home. With Amazon’s HQ smack dab in the heart of the city, Downtown Seattle, South Lake Union and Belltown are hotter than ever. The Seattle median condo prices are hovering around $500k which is significantly lower than the single family home median prices currently over $700k.

Broker Luke Bartlett shares that this differential is making a lot of first-time home buyers reconsider in-city condo living. At the same time baby boomers are continuing to downsize and are attracted to the simplicity and convenience of downtown living.

348 307

305

289

273

260

283

279 250 230 194 176

169 150 149

137

266

250

228 181

275

223

223

213 193

190

173

156

141

97

10/16

11/16

12/16

1/17

2/17

3/17

4/17

5/17

6/17

7/17

8/17

9/17

10/17

11/17

12/17

MONTHS OF INVENTORY

1.0 0.9

0.9 0.8 0.7

0.8

0.7 0.7

0.7

0.6

0.7

0.6

0.6

0.5 0.4

10/16 11/16 12/16 1/17 2/17 3/17 4/17 5/17 6/17 7/17 8/17 9/17 10/17 11/17 12/17

MEDIAN SOLD PRICE

428

412 380

402

434

425

437

440

460

445

465

451

455 453 460

10/16 11/16 12/16 1/17 2/17 3/17 4/17 5/17 6/17 7/17 8/17 9/17 10/17 11/17 12/17 All figures are based on condo sales. Graphs were created by METROPOLIST using NWMLS data and Trendgraphix, but information was not verified or published by NWMLS. Data reflects all new and resale condos sold.

BOTTOM LINE There has never been a better time to sell your condo. With such low inventory, multiple-offer scenarios are as common as ever. Lots of cash offers make it hard for people who need financing to get into their first, or next, home.

WHAT ELSE? Bartlett goes on to say presale opportunities are a good way to navigate this market. Many buyers with flexibility in timing are taking advantage of presale opportunities to lock in today’s prices on a condo that will be completed in the next 1-2 years. For some it’s a way to lock in a property without competition with an added bonus of building equity long before they have to start paying the mortgage. metropolistgroup.com | METROPOLIST | 10

NEIGHBORHOOD // YEAR OVER YEAR COMPARISON

LEGEND | SEATTLE METRO AREA AS DEFINED BY THE NWMLS Ballard | Greenlake | Wallingford (NWMLS 705) Ravenna | U District | Laurelhurst (NWMLS 710) Queen Anne | Magnolia (NWMLS 700) Capitol Hill | Central District | Madison Park (NWMLS 390) Downtown/Belltown(NWMLS 701)

BUT LET’S TALK ABOUT YOU! Not everyone wants to look at the big picture. Maybe you already own your home and want to get a pulse on your value and how it has changed. Or maybe you are curious what it would look like if you wanted to sell.

These areas are still pretty wide.

If you really want to get down to the detail of your home or your target area this is a great time to reach out to your broker.

They can pull data for your exact location or desired neighborhood, down to the micro locale, to help you learn exactly what your home is worth and what your competition might look like.

11 | METROPOLIST | metropolistgroup.com

Mt. Baker | Leschi | Madrona (NWMLS 380)

QUEEN ANNE (NWMLS 700) 2015 (Q3 & Q4)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

1.2

1.1

0.9

AVG DAYS ON MARKET

25.5

24.3

19.8

YEAR

JULY 2015 - DECEMBER 2017 MEDIAN SOLD PRICE

Within these pages you will find all the same information provided in the Seattle Metro section.

But here you will see it broken out into color coded Seattle neighborhood areas.

West Seattle (NWMLS 140)

900k 800k 700k 600k 500k

MAGNOLIA (NWMLS 700) YEAR

2015 (Q3 & Q4)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

0.9

1.0

0.9

AVG DAYS ON MARKET

23.0

23.2

21.7

JULY 2015 - DECEMBER 2017 MEDIAN SOLD PRICE

It’s also possible you are a buyer looking to focus in on a particular neighborhood and can use this information to help choose your target area, or strategize within an already identified perfect fit.

Beacon Hill | Rainier Valley (NWMLS 385)

1 mil 900k 800k 700k 600k

NEIGHBORHOOD // YEAR OVER YEAR COMPARISON

RAVENNA (NWMLS 710)

BALLARD (NWMLS 705) 2015 (Q3 & Q4)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

0.6

0.5

0.3

AVG DAYS ON MARKET

14.5

17.2

10.3

YEAR

YEAR

2015 (Q3 & Q4)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

0.5

0.5

0.7

AVG DAYS ON MARKET

11.5

13.0

15.2

JULY 2015 - DECEMBER 2017 MEDIAN SOLD PRICE

MEDIAN SOLD PRICE

JULY 2015 - DECEMBER 2017 800k 700k 600k 500k 400k

900k 800k 700k 600k 500k

U DISTRICT (NWMLS 710)

GREENLAKE (NWMLS 705) 2015 (Q3 & Q4)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

0.6

0.6

0.4

AVG DAYS ON MARKET

16.0

16.5

11.8

YEAR

YEAR

2015 (Q3 & Q4)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

1.0

1.2

0.8

AVG DAYS ON MARKET

20.8

34.3

21.0

JULY 2015 - DECEMBER 2017 MEDIAN SOLD PRICE

MEDIAN SOLD PRICE

JULY 2015 - DECEMBER 2017 800k 700k 600k 500k 400k

1 mil 800k 600k 400k 200k

LAURELHURST (NWMLS 710)

WALLINGFORD (NWMLS 705) 2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

0.4

0.9

0.5

AVG DAYS ON MARKET

15.2

17.2

14.7

MEDIAN SOLD PRICE

JULY 2015 - DECEMBER 2017 1 mil 900k 800k 700k 600k 500k

2015 (Q3 & Q4)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

1.8

2.5

2.3

AVG DAYS ON MARKET

26.5

26.7

16.5

MEDIAN SOLD PRICE

2015 (Q3 & Q4)

YEAR

YEAR

3.5 mil JULY 2015 - DECEMBER 2017 3 mil 2.5 mil 2 mil 1.5 mil 1 mil 500k

All figures are based on single family home sales, which include townhomes and condos. Graphs were created by METROPOLIST using NWMLS data and Trendgraphix, but information was not verified or published by NWMLS. Data reflects all new and resale single-family residences sold.

metropolistgroup.com | METROPOLIST | 12

NEIGHBORHOOD // YEAR OVER YEAR COMPARISON

BEACON HILL (NWMLS 385) YEAR

DOWNTOWN/BELLTOWN (NWMLS 701)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

1.1

1.0

1.1

AVG DAYS ON MARKET

26.8

19.3

20.5

YEAR

2015 (Q3 & Q4)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

1.4

0.8

1.1

AVG DAYS ON MARKET

43.0

28.2

24.0

JULY 2015 - DECEMBER 2017

JULY 2015 - DECEMBER 2017

MEDIAN SOLD PRICE

MEDIAN SOLD PRICE

2015 (Q3 & Q4)

700k 600k 500k 400k 300k

900k 800k 700k 600k 500k

RAINIER VALLEY (NWMLS 385) YEAR

WEST SEATTLE (NWMLS 140)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

4.0

2.4

2.3

AVG DAYS ON MARKET

9.8

26.0

28.3

700k 600k 500k 400k 300k 200k

YEAR

2015 (Q3 & Q4)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

0.8

1.2

0.7

AVG DAYS ON MARKET

27.8

20.8

18.3

JULY 2015 - DECEMBER 2017

JULY 2015 - DECEMBER 2017 MEDIAN SOLD PRICE

MEDIAN SOLD PRICE

2015 (Q3 & Q4)

700k 600k 500k 400k 300k

THIS IS A GREAT TIME TO REACH OUT TO YOUR BROKER.

13 | METROPOLIST | metropolistgroup.com

NEIGHBORHOOD // YEAR OVER YEAR COMPARISON

MT. BAKER (NWMLS 380) YEAR

2015 (Q3 & Q4)

2016 (Q3 & Q4)

MONTHS OF INVENTORY

1.2

1.0

AVG DAYS ON MARKET

28.0

25.3

CAPITOL HILL (NWMLS 390) 2017 (Q3 & Q4)

YEAR

2015 (Q3 & Q4)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

1.0

MONTHS OF INVENTORY

0.6

0.9

0.4

22.0

AVG DAYS ON MARKET

22.2

21.0

16.0

MEDIAN SOLD PRICE

MEDIAN SOLD PRICE

JULY 2015 - DECEMBER 2017 1.1 mil 1 mil 900k 800k 700k 600k

JULY 2015 - DECEMBER 2017 800k 700k 600k 500k 400k 300k

LESCHI (NWMLS 380) YEAR

CENTRAL DISTRICT (NWMLS 390)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

1.5

1.3

1.5

AVG DAYS ON MARKET

24.0

3.2

2.2

3.5 mil 3.0 mil 2.5 mil 2.0 mil 1.5 mil 1 mil 500k

YEAR

2015 (Q3 & Q4)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

MONTHS OF INVENTORY

1.0

1.0

0.7

AVG DAYS ON MARKET

20.0

30.3

12.7

JULY 2015 - DECEMBER 2017

JULY 2015 - DECEMBER 2017 MEDIAN SOLD PRICE

MEDIAN SOLD PRICE

2015 (Q3 & Q4)

800k 700k 600k 500k 400k 300k

MADRONA (NWMLS 380) YEAR

2015 (Q3 & Q4)

2016 (Q3 & Q4)

MONTHS OF INVENTORY

1.9

1.1

AVG DAYS ON MARKET

26.0

27.2

MADISON PARK (NWMLS 390) YEAR

2015 (Q3 & Q4)

2016 (Q3 & Q4)

2017 (Q3 & Q4)

0.7

MONTHS OF INVENTORY

2.0

1.1

1.2

20.5

AVG DAYS ON MARKET

50.0

25.3

32.3

2017 (Q3 & Q4)

JULY 2015 - DECEMBER 2017

1.75 mil 1.5 mil 1.25 mil 1 mil 750k 500k

MEDIAN SOLD PRICE

MEDIAN SOLD PRICE

JULY 2015 - DECEMBER 2017 1.75 mil 1.5 mil 1.25 mil 1 mil 750k 500k

All figures are based on single family home sales, which include townhomes and condos. Graphs were created by METROPOLIST using NWMLS data and Trendgraphix, but information was not verified or published by NWMLS. Data reflects all new and resale single-family residences sold.

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