Eastside Market Review Fourth Quarter 2014

Eastside Market Review

Q4

Eastside real estate statistics for the fourth quarter of 2014

2014 Q4 OV ER V I E W

T

he local real estate market was caught up in a holiday buying spree in December, with demand, home prices and sales all on the rise. Inventory is the one factor that needs a boost.

路 It was the busiest 4th quarter for closed sales since 2006. 路 Prices continued to climb over last year, with a number of areas reaching all-time highs. 路 Supply of inventory was at its lowest point in more than a decade.

2

Inventory on the Eastside continues to tighten, with a little over one month supply in the pipeline. Strong demand and weak supply helped boost the median home price 16.2 percent over the same time last year to $639,350.

Several Eastside regions hit all-time highs, including Mercer Island, Redmond, Kirkland and the area of Bellevue west of I-405. The increase in rent prices on the Eastside is outpacing even home price increases, prompting some experts to predict more first-time buyers opting to buy homes this year.

• Bellevue: • Bellevue / East of I-405 ........................................................ 4 • Bellevue / West of I-405 ...................................................... 6 • Eastside / South of I-90 ....................................................... 8 • East of Lake Sammamish / Issaquah ...............................10 • Kirkland / Bridle Trails ................................................................12 • Mercer Island ....................................................................................14 • Redmond / Carnation .................................................................16 • Woodinville / Juanita / Duvall ..............................................18 [ click on area to jump to that page ]

3

Bellevue / East of I-405

Higher Price Listing (75th percentile)

Lake Sammamish 3000 W Lake Sammamish Pkwy NE

$825,000 3 Bed / 2.5 Bath / 2,720 SQ FT MLS #: 728642 Lot Size: 0.3 acres Year Built: 1988 Style: Tri-Level Views: Lake, Territorial School District: Lake Washington

Median Price Listing

Woodridge 13140 SE 26th Street

$628,000 3 Bed / 2.5 Bath / 1,730 SQ FT MLS #: 709535 Lot Size: 2,631 sq ft Year Built: 2001 Style: 2 Story Views: none School District: Bellevue

Lower Price Listing (25th percentile)

Microsoft Area 2208 180th Place NE

$493,000 3 Bed / 2.25 Bath / 1,790 SQFT Sold Date: 11/19/2014 Lot Size: 0.26 acres Year Built: 1978 Style: 1 Story Views: none

4

School District: Bellevue

2014 Q4

Median Closed Sales Price > DECEMBER $581,250 $550,000

$526,450 $490,000

$459,950

$480,000 $450,000

2005

$437,500

$510,000

$450,000

+20%

-4%

-7%

-8%

-3%

+3%

+7%

+6%

+14%

2006

2007

2008

2009

2010

2011

2012

2013

2014

Months’ Supply of Inventory > DECEMBER

Closed Sales > 4TH QUARTER

less than 4 months = seller’s market 4 -6 months = balanced market more than 6 months = buyer’s market

3.3

184

0.7

175

162

0.8

-5% 2013

2014

10 year average

4th Qtr 2013

4th Qtr 2014

10 year average

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

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.

5

Bellevue / West of I-405

Higher Price Listing (75th percentile)

West Bellevue 9505 NE 5th Street

$3,988,000 4 Bed / 5.25 Bath / 7,040 SQFT MLS #: 702401 Lot Size: 0.58 acres Year Built: 1993 Style: 2 Stories w/Bsmnt Views: Lake, Mountain School District: Bellevue

Median Price Listing

Clyde Hill 9844 NE 22nd Street

$2,395,000 5 Bed / 4.0 Bath / 4,129 SQFT MLS #: 728822 Lot Size: 0.25 acres Year Built: 2015 Style: 2 Story Views: none School District: Bellevue

Lower Price Listing (25th percentile)

Enatai 2118 108th Avenue SE

$1,895,000 4 Bed / 4,324 SQFT MLS #: 609228 Lot Size: 0.31 acres Year Built: 2015 Style: 2 Story Views: Territorial

6

School District: Bellevue

2014 Q4

Median Closed Sales Price > DECEMBER

$1,413,593 $1,300,000

$1,195,000 $1,055,000

$1,035,000

$998,000 $895,000

$890,000 $805,000 $675,000

2005

+13%

-17%

-10%

-25%

+32%

-10%

+29%

+26%

+9%

2006

2007

2008

2009

2010

2011

2012

2013

2014

Months’ Supply of Inventory > DECEMBER

Closed Sales > 4TH QUARTER

less than 4 months = seller’s market 4 -6 months = balanced market more than 6 months = buyer’s market 7.2

1.9

92

1.5

97

79

+5% 2013

2014

10 year average

4th Qtr 2013

4th Qtr 2014

10 year average

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

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.

7

Eastside / South of I-90

Higher Price Listing (75th percentile)

Newcastle 14327 SE 88th Place

$1,096,500 5 Bed / 2.75 Bath / 4,010 SQFT Sold Date: 11/18/2014 Lot Size: 0.28 acres Year Built: 2003 Style: 2 Story Views: Mountain, Territorial School District: Issaquah

Median Price Listing

Lakemont 5633 165th Place SE

$796,500 4 Bed / 2.75 Bath / 2,740 SQFT Sold Date: 12/01/2014 Lot Size: 0.28 acres Year Built: 1993 Style: 2 Story Views: none School District: Issaquah

Lower Price Listing (25th percentile)

Issaquah 20609 SE 119th Street

$629,900 5 Bed / 3.25 Bath / 3,770 SQFT MLS #: 678207 Lot Size: 0.93 acres Year Built: 1970 Style: 1 Story W/Bsmnt.

Views: Mountain

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School District: Issaquah

2014 Q4

Median Closed Sales Price > DECEMBER $710,900 $652,500 $616,000

$620,000

$620,000 $574,500

$593,975 $560,000

$552,500 $512,500

2005

+1%

0%

+5%

-12%

-3%

-9%

+16%

-7%

+29%

2006

2007

2008

2009

2010

2011

2012

2013

2014

Months’ Supply of Inventory > DECEMBER less than 4 months = seller’s market 4 -6 months = balanced market more than 6 months = buyer’s market

Closed Sales > 4TH QUARTER

4.7

262

274 208

1.5

1.2

+5% 2013

2014

10 year average

4th Qtr 2013

4th Qtr 2014

10 year average

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

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.

9

10

East of Lake Sammamish / Issaquah

Higher Price Listing (75th percentile)

Sammamish 13671 NE 15th Place

$895,950 4 Bed / 2.75 Bath / 3,298 SQFT MLS #: 727794 Lot Size: 9,255 sq ft Year Built: 2014 Style: 2 Story Views: Territorial School District: Lake Washington

Median Price Listing

Trossachs 1565 267th Place SE

$715,000 4 Bed / 2.75 Bath / 2,927 SQFT MLS #: 729239 Lot Size: 0.28 acres Year Built: 1998 Style: 2 Story Views: Territorial School District: Issaquah

Lower Price Listing (25th percentile)

Fall City 33421 SE Redmond-Fall City Road

$499,900 2 Bed / 1.5 Bath MLS #: 699233 Lot Size: 0.31 acres Year Built: 1906 Style: 1 1/2 Story Views: River School District: Snoqualmie Valley

2014 Q4

Median Closed Sales Price > DECEMBER $632,000 $558,300

$565,000

$520,000

$550,000

$535,265

$532,500 $491,450

$488,695 $448,500

2005

+7%

+1%

-3%

-3%

-8%

-9%

+9%

+10%

+18%

2006

2007

2008

2009

2010

2011

2012

2013

2014

Months’ Supply of Inventory > DECEMBER less than 4 months = seller’s market 4 -6 months = balanced market more than 6 months = buyer’s market

Closed Sales > 4TH QUARTER 521

494 426

3.9

1.6

1.4

-5% 2013

2014

10 year average

4th Qtr 2013

4th Qtr 2014

10 year average

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

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.

11

12

Kirkland / Bridle Trails

Higher Price Listing (75th percentile)

East of Market 15 21st Place

$1,195,000 4 Bed / 3.25 Bath / 3,160 SQFT MLS #: 685786 Lot Size: 8,000 sq ft Year Built: 2014 Style: 2 Story Views: none School District: Lake Washington

Median Price Listing

Rose Hill 8746 126th Ave NE L-3

$919,950 4 Bed / 3.75 Bath / 3,480 SQFT MLS #: 722261 Lot Size: 7,137 sq ft Year Built: 2014 Style: 2 Stories w/Bsmnt Views: none School District: Lake Washington

Lower Price Listing (25th percentile)

North Rose Hill 13228 NE 80th Street

$690,000 4 Bed / 2.75 Bath / 2,390 SQFT Sold Date: 12/04/2014 Lot Size: 0.27 acres Year Built: 1995 Style: 1 Story Views: none School District: Lake Washington

2014 Q4

Median Closed Sales Price > DECEMBER $729,500

$734,975

$729,500

$714,500

$722,500

$650,000 $575,000

$600,000 $550,000

$515,000

2005

+42%

+1%

-1%

-21%

+4%

-8%

+18%

+10%

+1%

2006

2007

2008

2009

2010

2011

2012

2013

2014

Months’ Supply of Inventory > DECEMBER less than 4 months = seller’s market 4 -6 months = balanced market more than 6 months = buyer’s market

Closed Sales > 4TH QUARTER

5.7

2.1

189

169

155

0.9

-11% 2013

2014

10 year average

4th Qtr 2013

4th Qtr 2014

10 year average

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

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.

13

14

Mercer Island

Higher Price Listing (75th percentile)

Mercer Island 4134 100th Ave SE

$3,100,000 3 Bed / 3.0 Bath / 3,920 SQFT Sold Date: 08/29/2014 Lot Size: 0.3 acres Year Built: 1996 Style: 2 Story Views: Lake, Territorial School District: Mercer Island

Median Price Listing

South End 7449 West Mercer Way

$1,649,000 5 Bed / 3.25 Bath / 3,950 SQFT MLS #: 698668 Lot Size: 0.48 acres Year Built: 1973 Style: 2 Stories W/Bsmnt Views: City, Lake, Mountain School District: Mercer Island

Lower Price Listing (25th percentile)

Westside 7256 West Mercer Way

$1,250,000 4 Bed / 2.5 Bath / 3,770 SQFT MLS #: 713708 Lot Size: 0.49 acres Year Built: 1981 Style: 2 Story Views: none School District: Mercer Island

2014 Q4

Median Closed Sales Price > DECEMBER $1,151,250

$1,100,000 $1,096,250 $1,005,000

$995,000

$925,000

$893,500

$876,000

$950,000

$785,000

2005

+19%

-0.3%

-8%

-22%

+12%

+14%

-10%

+6%

+21%

2006

2007

2008

2009

2010

2011

2012

2013

2014

Months’ Supply of Inventory > DECEMBER

Closed Sales > 4TH QUARTER

less than 4 months = seller’s market 4 -6 months = balanced market more than 6 months = buyer’s market 4.0

2.0 1.9 72

65

63

-10% 2013

2014

10 year average

4th Qtr 2013

4th Qtr 2014

10 year average

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

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.

15

16

Redmond / Carnation

Higher Price Listing (75th percentile)

Education Hill 15965 NE 117th Street

$977,990 4 Bed / 3.5 Bath / 3,598 SQFT MLS #: 727978 Lot Size: 5,775 sq ft Year Built: 2014 Style: 2 Story Views: Territorial School District: Lake Washington

Median Price Listing

Carnation 6341 284th Way NE

$699,000 4 Bed / 2.5 Bath / 3,130 SQFT MLS #: 703643 Lot Size: 1.39 acres Year Built: 1996 Style: 2 Story Views: none School District: Riverview

Lower Price Listing (25th percentile)

Ames Lake 3213 E Ames Lake Drive NE

$474,950 2 Bed / 2.5 Bath / 1,980 SQFT MLS #: 721139 Lot Size: 0.37 acres Year Built: 1966 Style: 1 1/2 Story w/Basement Views: Lake School District: Snoqualmie Valley

2014 Q4

Median Closed Sales Price > DECEMBER $699,990

$695,500

$510,500

$494,000

$500,000

$520,000

$520,000

$534,029

$563,950

$460,000

2005

+42%

-27%

-2%

-8%

+13%

0%

+3%

+6%

+23%

2006

2007

2008

2009

2010

2011

2012

2013

2014

Months’ Supply of Inventory > DECEMBER

Closed Sales > 4TH QUARTER

less than 4 months = seller’s market 4 -6 months = balanced market more than 6 months = buyer’s market 4.2

191

1.8

223 175

1.4

+17% 2013

2014

10 year average

4th Qtr 2013

4th Qtr 2014

10 year average

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

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.

17

18

Woodinville / Juanita / Duvall

Higher Price Listing (75th percentile)

Trilogy 13691 Morgan Drive NE

$825,000 2 Bed / 3.5 Bath / 2,800 SQFT MLS #: 702272 Lot Size: 0.27 acres Year Built: 2007 Style: 1 Story Views: Territorial School District: Riverview

Median Price Listing

Finn Hill 12519 89th Court NE

$640,000 4 Bed / 2.75 Bath / 2,950 SQFT MLS #: 685677 Lot Size: 9,025 sq ft Year Built: 1975 Style: Split Entry Views: Mountain, Territorial School District: Lake Washington

Lower Price Listing (25th percentile)

Kenmore 7205 NE 158th Street

$429,000 5 Bed / 2.75 Bath / 2,700 SQFT MLS #: 721219 Lot Size: 0.34 acres Year Built: 1963 Style: 1 Story W/Bsmnt.

Views: none School District: Northshore

2014 Q4

Median Closed Sales Price > DECEMBER

$526,500 $458,250 $417,307

$401,750

$416,725

$435,000

$474,000

$473,000

$424,952 $339,950

2005

+10%

+15%

-24%

+4%

+4%

-22%

+25%

+12%

0%

2006

2007

2008

2009

2010

2011

2012

2013

2014

Months’ Supply of Inventory > DECEMBER less than 4 months = seller’s market 4 -6 months = balanced market more than 6 months = buyer’s market

4.3

Closed Sales > 4TH QUARTER

448 413 348

1.2

1.4

-8% 2013

2014

10 year average

4th Qtr 2013

4th Qtr 2014

10 year average

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

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.

19

Market Share by Company by number of transactions in 2014

30%

Windermere

22% 14% 13%

John L. Scott

12% 11%

Coldwell Banker 7% 7%

RE/MAX Keller Williams

4% 5%

No other company represents 2% or more of both buyers and sellers.

5%

10%

15%

20%

25%

30%

35%

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

windermere.com