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NEIGHBORHOOD H A L F-A N N UA L R E P O RT 2 0 1 6 The Pacific Northwest is home to a diverse collection of communities, dynamic lifestyles and real estate microclimates. We invite you to discover market trends and perspectives from leading real estate professionals in your area, where every residence is a Realogics Sotheby’s International Realty home.

Q2-2016 results estimated as of June 30, 2016 (final results may vary).


LOCAL EXPERTS. GLOBAL REACH.

DISCOVER WHAT’S HAPPENING IN YOUR BACKYARD. Upon entering the second half of 2016, we offer this timely look at year-over-year market performance in 16 key markets throughout the Puget Sound region. Boasting with enviable economic fundamentals, the Seattle metro area is among the nation’s fastest-growing residential markets, with most neighborhoods reaching or exceeding their prior peaks for median home prices. We are proud to keep the good company of leading resident experts who live and work in the neighborhoods they serve, while at the same time, benefiting from a global network like no other. So whether your next home is around the corner or around the world, we’re here to help. -Dean Jones President & CEO

RSIR.com/MyCity Information is deemed reliable but cannot be guaranteed. Each office is independently owned and operated. Seller reserves the right to change product offering without notice.


WEST SEATTLE In West Seattle and its southern neighbors, residents and visitors enjoy sandy, saltwater beaches, boardwalks for bicycling and rollerblading, and delicious eateries. Given the easy commute to downtown Seattle offered by the Water Taxi, the area has seen an influx of young professionals to its neighborhoods. A growing demand exemplified by selling prices increasing by over 20 percent year-over-year in the second quarter, the highest gain (by percentage) in the region. SOLD - $1,086,000 YEAR-OVER-YEAR CHANGE, FIRST HALF 2016

-6%

873 HOMES SALES TRANSACTIONS

8%

$481M

-3 1 % 17 DAYS

SELLING VOLUME (DOLLARS)

AVG. DAYS ON MARKET

15%

---- --------- --- --

$551K

$400,000

AVG. SALES PRICE

$200,000

Q2

Q2-2016 results estimated as of June 30, 2016 (final results may vary).

$600,000

Q3

---

--

Q4

--

$0 • 2015 • 2016


DOWNTOWN SEATTLE Among the fastest-growing cities in the U.S., downtown Seattle and its Belltown neighborhood are home to an abundance of urban corporate campuses and the majority of Seattle’s job growth, drawing in residents who want the convenience of a “live, work, play” lifestyle. Many locals within the tech industry are attracted to the long-urbanized downtown areas where high-rises and mid-rise developments are found— along with the highest prices per square foot. Search Id: LBQXSW on rsir.com YEAR-OVER-YEAR CHANGE, ALL DOWNTOWN SALES, FIRST HALF 2016

51%

387 HOMES SALES TRANSACTIONS

84% $268M

SELLING VOLUME (DOLLARS)

-1 2 % 39 DAYS

AVG. DAYS ON MARKET

22 % $692K AVG. SALES PRICE

Includes Downtown Seattle New Construction

RSIR.com/MyCity Information is deemed reliable but cannot be guaranteed. Each office is independently owned and operated. Seller reserves the right to change product offering without notice.


NEW CONSTRUCTION & RESALE In downtown Seattle, condominium market values swelled by 28 percent in the first half of 2016 compared with the same time last year. Given that there were virtually no new construction deliveries in 2015, a look at only resales from these periods offers the most accurate outlook, revealing what is still a 22 percent increase in values despite a decrease in total resale closings. The state of the in-city housing market is evidenced by the strong consumer response to new construction projects. Search Id: FEX3RF on rsir.com YEAR-OVER-YEAR CHANGE, DOWNTOWN RESALES ONLY, FIRST HALF 2016

-5%

246 HOMES SALES TRANSACTIONS

16%

-3 9 %

$134M

35 DAYS

SELLING VOLUME (DOLLARS)

AVG. DAYS ON MARKET

22 % $545K

AVG. SALES PRICE

Q2-2016 results estimated as of June 30, 2016 (final results may vary).


MADISON PARK | BROADMOOR Among two of Seattle’s most stately neighborhoods, Madison Park and Broadmoor are coveted communities where vintage estates hearken to a rich history, complemented by an eclectic mix of local restaurants and boutiques. As such, buyers generally pay slightly above list price to secure their space in these dynamic areas. In the warmer seasons, beloved public beach parks are a draw, where a day spent on Lake Washington’s waves ends with a tie-up at a guest dock for shorefront dining. Search Id: 7GWQYG on rsir.com YEAR-OVER-YEAR CHANGE, FIRST HALF 2016

8%

18%

SALES TRANSACTIONS

SELLING VOLUME (DOLLARS)

793 HOMES

$605M

-4%

9%

AVG. DAYS ON MARKET

AVG. SALES PRICE

22 DAYS

$763K

Data includes all Central Seattle: Capitol Hill, Denny-Blaine, Leschi, Madison Park, Washington Park

RSIR.com/MyCity Information is deemed reliable but cannot be guaranteed. Each office is independently owned and operated. Seller reserves the right to change product offering without notice.


MOUNT BAKER | SEWARD PARK Mt. Baker and Seward Park offer a respite where a day at the park leads to an evening at a boutique restaurant or watching the stars come out above the lake. These neighborhoods have seen competitive bidding and some of the highest percentages over asking price, a testament to the prime Lake Washington waterfront opportunities. In line with this trend, the average days on market sharply decreased into the second quarter as recent sales have left a shortage of waterfront inventory. Search Id: PBYG5R on rsir.com YEAR-OVER-YEAR CHANGE, FIRST HALF 2016

-7 %

327 HOMES SALES TRANSACTIONS

3%

$183M

-48% 17 DAYS

SELLING VOLUME (DOLLARS)

AVG. DAYS ON MARKET

11%

$600,000

$561K

$400,000

AVG. SALES PRICE

Data includes all Southeast Seattle: Columbia City, Mount Baker and Seward Park

Q2-2016 results estimated as of June 30, 2016 (final results may vary).

$200,000

Ql

Q2

$0

Q3

Q4

• 2015 • 2016


QUEEN ANNE | MAGNOLIA Though located minutes from downtown, Queen Anne and Magnolia offer a family-friendly setting where great public schools and parks meet a variety of local shops, restaurants and other amenities. Both communities remain steady seller’s markets, as more seller’s found buyers at values above their list price compared with the prior year. Looking to the future, the area stands to benefit from near-term business relocations, most notably Expedia in 2017. SOLD - $1,150,000 YEAR-OVER-YEAR CHANGE, FIRST HALF 2016

-5 %

578 HOMES SALES TRANSACTIONS

5%

$435M SELLING VOLUME (DOLLARS)

-1 8 % 22 DAYS AVG. DAYS ON MARKET

11%

------------------

$752K

--

--

AVG. SALES PRICE Ql

Q2

Q3

---

RSIR.com/MyCity Information is deemed reliable but cannot be guaranteed. Each office is independently owned and operated. Seller reserves the right to change product offering without notice.

Q4

--

$800,000 $600,000 $400,000 $200,000

$0 •2015 •2016


BALLARD | GREENLAKE Home to affluent young professionals, Ballard and Greenlake are among the fastest-moving markets in the region with the lowest ranking average days on market for the first half of the year. They are known for top recreational opportunities along the waterfront, BurkeGilman Trail and Greenlake Park, with easy downtown access. Selling volumes likewise rank high compared with other areas surveyed, with more transactions and a steep increase in average price per square foot. SOLD - $1,325,000 YEAR-OVER-YEAR CHANGE, FIRST HALF 2016

12%

1,347 HOMES SALES TRANSACTIONS

22 % $819M

-1 8 % 15 DAYS

SELLING VOLUME (DOLLARS)

AVG. DAYS ON MARKET

9%

$608K AVG. SALES PRICE

Q2-2016 results estimated as of June 30, 2016 (final results may vary).


NORTH SEATTLE East of I-5 from Ballard, North Seattle features the waterfront markets of Laurelhurst and Windermere, extending toward Shoreline. Residents enjoy close proximity to downtown Seattle, recreation at the water’s edge, and unique enclaves in which the history of the city comes to life. For homebuyers, the climate in the first half of 2016 was marked by strong competition, as waterfront properties in these areas sold at above-trend rates over the past four years and are now in short supply. Search Id: Y5FG36 on rsir.com YEAR-OVER-YEAR CHANGE, FIRST HALF 2016

-4%

677 HOMES SALES TRANSACTIONS

10% $477M

SELLING VOLUME (DOLLARS)

-2 1 % 16 DAYS AVG. DAYS ON MARKET

15%

------ -- - -- - -- - -----

$800,000 $600,000

$704K AVG. SALES PRICE

- --

$400,000

-- -

$200,000

--

Q2

Q3

RSIR.com/MyCity Information is deemed reliable but cannot be guaranteed. Each office is independently owned and operated. Seller reserves the right to change product offering without notice.

Q4

$0

•2015 •2016


BOTHELL | KENMORE Bothell and Kenmore are growing with added employment centers. Kenmore, at the north end of Lake Washington, is valued for its proximity to the Eastside and Seattle. Downtown Bothell is in the midst of redevelopment, as new restaurants and boutiques draw new residents and visitors alike. The region’s largest market by transaction, days on market decreased significantly year-over-year, indicating that buyers from surrounding markets are choosing homes in these areas. SOLD - $698,000 YEAR-OVER-YEAR CHANGE, FIRST HALF 2016

5%

16%

SALES TRANSACTIONS

SELLING VOLUME (DOLLARS)

1,396 HOMES

$689M

-3 9 % 31 DAYS AVG. DAYS ON MARKET

10% $494K AVG. SALES PRICE

Q2-2016 results estimated as of June 30, 2016 (final results may vary).


KIRKLAND/JUANITA The current market trends in Kirkland and Juanita are a testament to the area’s top-rated schools, seasonal events, and recreation. Occupying a large stretch of Lake Washington’s eastern shoreline, the real appeal of Kirkland comes from quaint communities that give way to beaches, waterfront parks, and boat parking for dockside dining after a day of recreation on the waves. Learn more about waterfront living at RSIRWaterfront.com Search Id: CTKWVQ on rsir.com YEAR-OVER-YEAR CHANGE, ALL SALES FIRST HALF 2016

7%

933 HOMES SALES TRANSACTIONS

25% $665M

SELLING VOLUME (DOLLARS)

-3 3 % 21 DAYS

AVG. DAYS ON MARKET

16%

------------------------

$713K

--

--

AVG. SALES PRICE Q2

Q3

---

Q4

RSIR.com/MyCity Information is deemed reliable but cannot be guaranteed. Each office is independently owned and operated. Seller reserves the right to change product offering without notice.

--

$800,000 $600,000 $400,000 $200,000

$0 •2015 •2016


WATERFRONT PROPERTIES In Kirkland and Juanita, an outdoor lifestyle at the water’s edge meets charming downtown cores that will soon be further enhanced as new development projects such as Kirkland Urban are currently underway. These waterfront communities are coveted by buyers: The margin paid over list prices rose by the highest percentage in the region yearover-year. Compared to last year, transactions, volume, and pricing have all increased. SOLD - $1,078,000 YEAR-OVER-YEAR CHANGE, KIRKLAND/JUANITA WATERFRONT FIRST HALF 2016

-1 8 %

14 HOMES SALES TRANSACTIONS

-1 8 % $13.9M

SELLING VOLUME (DOLLARS)

-5 3 %

37 DAYS AVG. DAYS ON MARKET

-9 % $904K

------------------------------------------------------

AVG. SALES PRICE

$1,000,000 $800,000 $600,000

----

Ql

Q2-2016 results estimated as of June 30, 2016 (final results may vary).

$1,400,000 $1,2 00,000

Q2

---

Q3

-----

Q4

$400,000

---

$2 00,000

---

$0

--

•2 015

•2 016


WEST BELLEVUE The Four Points of Medina, Hunts Point, Yarrow Point and Clyde Hill are home to the Puget Sound region’s top executives and are among the most prized neighborhoods in the region, where waterfront estates with their own private docks give way to stunning view retreats. Given their prominence, the Four Points regularly command the highest prices in the region, though they are likely to linger on the market for a month or two, even in periods of high demand. SOLD - $6,750,000 YEAR-OVER-YEAR CHANGE, FIRST HALF 2016

9%

347 HOMES SALES TRANSACTIONS

18% $542M

SELLING VOLUME (DOLLARS)

-1 %

44 DAYS AVG. DAYS ON MARKET

9%

----------------� --- --- -- ----::: -

$1.5M

$1,800,000 $1,600,000 $1,400,000 $1,200,000

--

$1,000,000 $800,000

AVG. SALES PRICE Ql

Q2

Q3

---

RSIR.com/MyCity Information is deemed reliable but cannot be guaranteed. Each office is independently owned and operated. Seller reserves the right to change product offering without notice.

$600,000 --

$400,000 $200,000

--

--

Q4

$0 •2015 •2016


DOWNTOWN BELLEVUE In West Bellevue, schools that rank among the highest in the nation meet the Eastside’s financial center, where a host of elite companies define a variety of lifestyles, from esteemed and exclusive waterfront locations to lively downtown condominiums. In the first half of the year, selling prices closely matched sellers’ expectations, with the lowest deviation from listed prices in most reporting periods.

Search Id: DHQRDB on rsir.com YEAR-OVER-YEAR CHANGE, DOWNTOWN BELLEVUE CONDOMINIUMS, FIRST HALF 2016

1%

84 HOMES SALES TRANSACTIONS

3%

13%

$59M

78 DAYS

SELLING VOLUME (DOLLARS)

AVG. DAYS ON MARKET

2%

$707K AVG. SALES PRICE

Q2-2016 results estimated as of June 30, 2016 (final results may vary).


NEWCASTLE | EAST BELLEVUE East Bellevue and Newcastle continue to attract employers and talent from around the world and contribute to the Pacific Northwest’s robust tech sector. Homes are among the fastest selling in the region with a strong increase in price paid per square foot. Buyers are attracted to the top-rated school systems and outdoor amenities, that include equestrian facilities, premier golf courses, and newer housing developments that integrate extensive trail systems. SOLD - $3,100,000 YEAR-OVER-YEAR CHANGE, FIRST HALF 2016

2%

778 HOMES SALES TRANSACTIONS

8%

$584M SELLING VOLUME (DOLLARS)

-3 8 % 16 DAYS AVG. DAYS ON MARKET

6%

$800,000 $600,000

$751K

$400,000

AVG. SALES PRICE

$200,000

Ql

Q2

$0

Q3

RSIR.com/MyCity Information is deemed reliable but cannot be guaranteed. Each office is independently owned and operated. Seller reserves the right to change product offering without notice.

Q4

•2015 •2016


SAMMAMISH | ISSAQUAH In Sammamish and Issaquah, aquatic adventures aboard paddle boards and kayaks meet top-rated golf courses and premier public education. Over the past few years, these communities have established themselves among the region’s largest residential markets with steadily rising selling prices as buyers are drawn to recreation, nearby employment centers, and the Eastside tech corridor. As seen in other Eastside regions, homes are selling more quickly than they did a year ago. SOLD - $575,000 YEAR-OVER-YEAR CHANGE, FIRST HALF 2016

-2 %

1,176 HOMES SALES TRANSACTIONS

6%

$801M

-3 5 % 22 DAYS

SELLING VOLUME (DOLLARS)

AVG. DAYS ON MARKET

8%

$800,000 $600,000

$681K

$400,000

AVG. SALES PRICE

$200,000

Ql

Q2-2016 results estimated as of June 30, 2016 (final results may vary).

Q2

$0

Q3

Q4

•2015 •2016


MERCER ISLAND Mercer Island is the perfect pivot point to Seattle and the Eastside. Marked by private docks, waterfront homes comprise a strong community with a smalltown atmosphere and award-winning public schools, earning Mercer Island the wealthiest zip code in the state. Homes on Mercer Island are as coveted as those in West Bellevue’s premier neighborhoods, as shown by a decreasing average days on market in the first half of the year and selling prices at or above list price. Search Id: SZMSNH on rsir.com YEAR-OVER-YEAR CHANGE, FIRST HALF 2016

-1 8 %

152 HOMES SALES TRANSACTIONS

-1 7 % $215M

SELLING VOLUME (DOLLARS)

-3 2 % 26 DAYS AVG. DAYS ON MARKET

2% $1.4M AVG. SALES PRICE

RSIR.com/MyCity Information is deemed reliable but cannot be guaranteed. Each office is independently owned and operated. Seller reserves the right to change product offering without notice.


REDMOND | WOODINVILLE With easy access to Microsoft and the Eastside tech corridor, the heart of Washington’s wine country in Woodinville gives way to Redmond, the “Bicycle Capital of the Northwest.” These neighborhoods are marked by quintessentially Northwest homes and equestrian estates complemented by verdant parks and recreation. Buyers have shown their desire for an alternative to fast-paced city life, as homes are selling in less than one month at just over 15 percent above asking price than they did last year. Search Id: TKCSCC on rsir.com YEAR-OVER-YEAR CHANGE, FIRST HALF 2016

-1 2 %

925 HOMES SALES TRANSACTIONS

1%

$637M

-3 3 % 24 DAYS

SELLING VOLUME (DOLLARS)

AVG. DAYS ON MARKET

15%

------------------

$689K

--

--

AVG. SALES PRICE Q2

Q2-2016 results estimated as of June 30, 2016 (final results may vary).

Q3

---

Q4

--

$800,000 $600,000 $400,000 $200,000

$0 •2015 •2016


BAINBRIDGE ISLAND Bainbridge Island is quintessentially “Pacific Northwest,” whether living at the water’s edge or further inland. With avid gardeners and farms, residents embrace its “farm-to-table” lifestyle and dine at delicious, locally sourced eateries. As 2016 began, prices paid were slightly less than list price, indicating low competition among buyers, yet these numbers began to turn up rapidly going into the second quarter, as buyers embraced a lifestyle along the shores. Search Id: 7TB6R7 on rsir.com YEAR-OVER-YEAR CHANGE, ALL SALES FIRST HALF 2016

-1 1 %

213 HOMES SALES TRANSACTIONS

4%

$176M SELLING VOLUME (DOLLARS)

8%

50 DAYS AVG. DAYS ON MARKET

17%

------------------

$826K

--

--

AVG. SALES PRICE Q2

Q3

---

RSIR.com/MyCity Information is deemed reliable but cannot be guaranteed. Each office is independently owned and operated. Seller reserves the right to change product offering without notice.

Q4

--

$800,000 $600,000 $400,000 $200,000

$0 •2015 •2016


WATERFRONT PROPERTIES The Island draws those who want to escape from city life yet remain only 30 minutes by ferry to the downtown core. Realogics Sotheby’s International Realty will soon integrate their two existing real estate offices and open a new flagship retail branch at the nostalgic Old Hardware Store location in downtown Winslow. The space will create an indoor-outdoor living room with an aesthetic that pays tribute to the building’s historic past while embracing the future. SOLD - $5,417,555 YEAR-OVER-YEAR CHANGE, BAINBRIDGE ISLAND WATERFRONT, FIRST HALF 2016

-2 %

40 HOMES SALES TRANSACTIONS

6%

49 %

$53M

118 DAYS

SELLING VOLUME (DOLLARS)

AVG. DAYS ON MARKET

9% $1.3M

AVG. SALES PRICE

Q2-2016 results estimated as of June 30, 2016 (final results may vary).


Neighborhood Report Q2 2016  
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