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Eastside Market Review

Q2

Eastside real estate statistics for the second quarter of 2015


2015 Q2 OV ER V I E W

T

he strong real estate market maintained its momentum in the second quarter of the year. Continued low inventory coupled with ever-increasing demand pushed home prices in King County to an all-time high. Competition was fierce, as firsttime home buyers competed with foreign buyers and those moving here for new jobs. The multiple offers and escalation clauses that have now become common made it a very hot market for sellers. • Home prices in every community on the Eastside increased over last year. • While sales on the Eastside jumped significantly, inventory remains very tight. • With very little new construction in the pipeline, low inventory is expected to continue until more sellers are willing to list their homes.

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• 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 • Market Share ..................................................................................................................20 • Why Windermere .......................................................................................................22 • Local Expertise, Global Connections ..........................................................24 [ click on area to jump to that page ]

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Bellevue / East of I-405

Higher Price Listing (75th percentile)

Wilburton/Kelsey Creek 12832 SE 2nd Street

$946,500 4 Bed / 2.25 Bath / 2,430 SQFT MLS #: 804439 Lot Size: 10,000 sq ft Year Built: 1963 Style: Tri-Level Views: Territorial School District: Bellevue

Median Price Listing

Microsoft 14802 NE 13th Street

$678,000 5 Bed / 3 Bath / 2,460 SQFT MLS #: 793895 Lot Size: 6,250 sq ft Year Built: 1966 Style: Split Entry Views: None School District: Bellevue

Lower Price Listing (25th percentile)

Microsoft 6802 156th Place NE

$634,500 3 Bed / 2.25 Bath / 2,090 SQFT MLS #: 808292 Lot Size: 4,039 sq ft Year Built: 2007 Style: Multi Level Views: None

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School District: Lake Washington


2015 Q2

Median Closed Sales Price > JUNE $645,000 $590,500

$606,500

$575,000

$550,000

$542,000 $507,000

$496,500 $433,750

2006

$450,000

+9%

-3%

-12%

-2%

-13%

+4%

+22%

+10%

+6%

2007

2008

2009

2010

2011

2012

2013

2014

2015

Months Supply of Inventory > JUNE

Closed Sales > JUNE

(includes pending sales) less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

83 74

68

2.2

1.0 0.7

2014

2015

10 year average

2014

2015

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.

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Bellevue / West of I-405

Higher Price Listing (75th percentile)

Yarrow Point 4416 95th Avenue NE

$3,580,000 4 Bed / 5.0 Bath / 5,000 SQFT MLS #: 794238 Lot Size: 0.59 acres Year Built: 1990 Style: Multi Level Views: Territorial, Mountain, Lake, City School District: Bellevue

Median Price Listing

Enatai 3130 110th Avenue SE

$2,299,000 5 Bed / 4.0 Bath / 5,100 SQFT MLS #: 787047 Lot Size: 9,754 sq ft Year Built: 2008 Style: Multi Level Views: None School District: Bellevue

Lower Price Listing (25th percentile)

Medina 8445 NE 9th Street

$1,498,000 3 Bed / 2.75 Bath / 2,610 SQFT MLS #: 767010 Lot Size: 0.29 acres Year Built: 1954 Style: 1 Story Views: Territorial

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School District: Bellevue


2015 Q2 $1,811,250

Median Closed Sales Price > JUNE

$1,664,000

$1,612,500

$1,285,000 $1,187,500

$1,175,000

$1,137,000 $980,000

2006

$1,037,500 $943,750

+36%

-20%

-9%

-17%

+6%

-9%

+20%

+46%

+9%

2007

2008

2009

2010

2011

2012

2013

2014

2015

Months Supply of Inventory > JUNE

Closed Sales > JUNE

(includes pending sales) less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market 44

4.3

38

38 2.6 1.7

2014

2015

10 year average

2014

2015

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.

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Eastside / South of I-90

Higher Price Listing (75th percentile)

Forest Ridge 15438 SE 67th Place

$1,048,000 4 Bed / 3.5 Bath / 4,070 SQFT MLS #: 786579 Lot Size: 0.42 acres Year Built: 1992 Style: 1½ Stories w/Basement Views: Mountain, Territorial School District: Issaquah

Median Price Listing

Squak Mountain 11315 207th Avenue SE

$814,000 4 Bed / 2.5 Bath / 3,600 SQFT MLS #: 809123 Lot Size: 3.86 acres Year Built: 2013 Style: 2 Story w/Basement Views: None School District: Issaquah

Lower Price Listing (25th percentile)

Cougar Mountain 17207 SE 60th Street

$674,950 3 Bed / 1.75 Bath / 1,800 SQFT MLS #: 767312 Lot Size: 0.54 acres Year Built: 1938 Style: 1 Story Views: Territorial

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School District: Issaquah


2015 Q2

Median Closed Sales Price > JUNE $694,000 $635,000

$637,500

$688,000

$599,000

$569,537

2006

$659,500

$650,000

$530,000

$550,000

0%

+9%

-18%

+14%

-18%

+4%

+9%

+10%

+4%

2007

2008

2009

2010

2011

2012

2013

2014

2015

Months Supply of Inventory > JUNE (includes pending sales)

Closed Sales > JUNE

3.5

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

121 101

96

1.5 1.0

2014

2015

10 year average

2014

2015

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.

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10

East of Lake Sammamish / Issaquah

Higher Price Listing (75th percentile)

Sammamish 19446 SE 27th Place

$950,000 4 Bed / 3.5 Bath / 3,960 SQFT MLS #: 802404 Lot Size: 7,012 sq ft Year Built: 2005 Style: 2 Story Views: Territorial School District: Issaquah

Median Price Listing

Issaquah Highlands 2166 NE Natalie Way

$750,000 3 Bed / 2.5 Bath / 2,260 SQFT MLS #: 809978 Lot Size: 3,626 sq ft Year Built: 2007 Style: 2 Story Views: Territorial School District: Issaquah

Lower Price Listing (25th percentile)

Snoqualmie 37001 SE 93rd Place

$499,950 4 Bed / 2.0 Bath / 1,920 SQFT MLS #: 797329 Lot Size: 0.74 acres Year Built: 1986 Style: 2 Story Views: Territorial School District: Snoqualmie Valley


2015 Q2

Median Closed Sales Price > JUNE $607,500

$607,500

$599,000

$570,000 $531,000

2006

$625,000

$563,550

$540,000 $509,500

$494,500

+7%

0%

-13%

+2%

-6%

-3%

+14%

+6%

+4%

2007

2008

2009

2010

2011

2012

2013

2014

2015

Months Supply of Inventory > JUNE

Closed Sales > JUNE

(includes pending sales)

285

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

226 3.2

200

1.4 1.0

2014

2015

10 year average

2014

2015

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.

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12

Kirkland / Bridle Trails

Higher Price Listing (75th percentile)

West Of Market 701 17th Avenue W

$1,550,000 4 Bed / 3.5 Bath / 3,460 SQFT MLS #: 793094 Lot Size: 7,200 sq ft Year Built: 2004 Style: 2 Story Views: Territorial School District: Lake Washington

Median Price Listing

North Rose Hill 9714 130th Avenue NE

$999,950 3 Bed / 2.0 Bath / 1,870 SQFT MLS #: 801537 Lot Size: 0.57 acres Year Built: 1966 Style: 1 Story Views: None School District: Lake Washington

Lower Price Listing (25th percentile)

Rose Hill 7620 116th Avenue NE

$799,950 3 Bed / 2.5 Bath / 2,094 SQFT MLS #: 805933 Lot Size: 6,698 sq ft Year Built: 2015 Style: 1 Story Views: none School District: Lake Washington


2015 Q2

Median Closed Sales Price > JUNE

$845,600 $800,000

$702,500 $640,000

$638,000 $589,500

$570,000

2006

$645,000 $604,000

$604,000

+23%

-9%

-8%

+8%

-5%

+7%

-6%

+32%

+6%

2007

2008

2009

2010

2011

2012

2013

2014

2015

Months Supply of Inventory > JUNE

Closed Sales > JUNE

(includes pending sales) less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

88 3.5

73

69

1.6 1.1

2014

2015

10 year average

2014

2015

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.

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14

Mercer Island

Higher Price Listing (75th percentile)

Beach Club 8252 Avalon Drive

$4,588,000 5 Bed / 4.25 Bath / 4,887 SQFT MLS #: 797475 Lot Size: 0.39 acres Year Built: 1972 Style: 2 Stories w/Basement Views: Mountain, Lake School District: Mercer Island

Median Price Listing

Parkwood Estates 5438 91st Avenue SE

$1,985,000 6 Bed / 4.75 Bath / 5,173 SQFT MLS #: 777739 Lot Size: 0.36 acres Year Built: 1988 Style: 1 Story W/Basement Views: Territorial School District: Mercer Island

Lower Price Listing (25th percentile)

Mercer Island 9315 SE 43rd Street

$1,174,950 5 Bed / 2.5 Bath / 3,252 SQFT MLS #: 753147 Lot Size: 10,625 sq ft Year Built: 1956 Style: 1 Story W/Basement Views: Lake, Territorial School District: Mercer Island


2015 Q2

Median Closed Sales Price > JUNE

$1,336,700

$1,090,000 $998,250

$1,025,775

$1,019,975

$980,000 $824,750

2006

$977,500

$950,000

$880,975

0%

+35%

-20%

-17%

-11%

+15%

+6%

+28%

-1%

2007

2008

2009

2010

2011

2012

2013

2014

2015

Months Supply of Inventory > JUNE

Closed Sales > JUNE

(includes pending sales) less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

42

3.9 35

34

3.0

1.3

2014

2015

10 year average

2014

2015

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.

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16

Redmond / Carnation

Higher Price Listing (75th percentile)

Redmond Ridge 9811 241 Terr NE

$1,020,000 4 Bed / 3.5 Bath / 3,915 SQFT MLS #: 789237 Lot Size: 7,083 sq ft Year Built: 2013 Style: 2 Stories w/Basement Views: None School District: Lake Washington

Median Price Listing

Education Hill 17674 NE 121st Court

$729,000 4 Bed / 2.5 Bath / 2,630 SQFT MLS #: 814235 Lot Size: 7,652 sq ft Year Built: 2005 Style: 2 Story Views: Territorial School District: Lake Washington

Lower Price Listing (25th percentile)

Trilogy 23131 NE 128th Place

$399,950 2 Bed / 1.75 Bath / 1,300 SQFT MLS #: 791259 Lot Size: 3,331 sq ft Year Built: 2005 Style: 1 Story Views: None School District: Lake Washington


2015 Q2

Median Closed Sales Price > JUNE $697,500

$689,950 $599,950

$655,000

$624,950 $520,500

$572,000

$581,257

$498,500 $429,000

2006

+4%

+10%

-25%

-4%

-14%

+33%

+2%

+13%

+6%

2007

2008

2009

2010

2011

2012

2013

2014

2015

Months Supply of Inventory > JUNE

Closed Sales > JUNE

(includes pending sales)

108

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

1.5

2014

3.8

74

10 year average

2014

75

1.3

2015

2015

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.

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18

Woodinville / Juanita / Duvall

Higher Price Listing (75th percentile)

Hollywood Hill 17015 164th Avenue NE

$950,000 5 Bed / 4.75 Bath / 3,529 SQFT MLS #: 808071 Lot Size: 1.53 acres Year Built: 1979 Style: 2 Story Views: None School District: Northshore

Median Price Listing

Trilogy 24420 NE Vine Maple Way

$744,900 2 Bed / 2.5 Bath / 2,320 SQFT MLS #: 763141 Lot Size: 6,562 sq ft Year Built: 2005 Style: 1 Story Views: Territorial School District: Lake Washington

Lower Price Listing (25th percentile)

Totem Lake 11332 NE 129th Street

$525,000 4 Bed / 2.0 Bath / 2,300 SQFT MLS #: 801080 Lot Size: 8,123 sq ft Year Built: 1974 Style: Split Entry Views: Territorial School District: Lake Washington


2015 Q2

Median Closed Sales Price > JUNE

$489,750

$510,000

$510,000

$526,000

$528,444

$485,000 $450,000 $406,000

2006

$378,800

$400,000

+4%

0%

-12%

-10%

-7%

+6%

+21%

+8%

0%

2007

2008

2009

2010

2011

2012

2013

2014

2015

Months Supply of Inventory > JUNE

Closed Sales > JUNE

(includes pending sales) less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

210 3.4

174 149

1.5

1.4

2014

2015

10 year average

2014

2015

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.

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Market Share by Company 2014

Eastside > by number of transactions Bellevue, Bothell, Duvall, Issaquah, Kenmore, Kirkland, Mercer Island, Newcastle, North Bend, Redmond, Sammamish, Snoqualmie, Woodinville, and surrounding neighborhoods.

30%

Windermere

22% 14% 13%

John L. Scott

12% 11%

Coldwell Banker 7% 7%

RE/MAX 5% 5%

Keller Williams The Cascade Team Redfin Sotheby’s International Realty Skyline Berkshire Hathaway

2% 1% 2% 5% 1% 1% 1% 5% 1% 2%

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

5%

10%

15%

20%

25%

30%

35%

40%

 Representing Sellers  Representing Buyers

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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 1/1/2014–12/31/2014 in areas 500, 510, 520, 530, 540, 550, 560, 600.


2014 Market Share by Company

Eastside > transactions over $1,000,000 Bellevue, Bothell, Duvall, Issaquah, Kenmore, Kirkland, Mercer Island, Newcastle, North Bend, Redmond, Sammamish, Snoqualmie, Woodinville, and surrounding neighborhoods.

41%

Windermere

32% 21%

Coldwell Banker

14% 13% 12%

John L. Scott Skyline

1% 6%

RE/MAX

3% 4%

Sotheby’s International Realty

4% 3%

Keller Williams

3% 3%

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

5%

10%

15%

20%

25%

30%

35%

40%

 Representing Sellers  Representing Buyers

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 1/1/2014–12/31/2014 in areas 500, 510, 520, 530, 540, 550, 560, 600 with a sales price of $1,000,000 or more.

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Why Windermere

Washington’s

Most Respected Real Estate Brands

Washington’s Most Respected Real Estate Brands

In an anindependent independentsurvey surveyconducted conducted Puget Sound Business Journal, readers were asked to In by by thethe Puget Sound Business Journal, readers were asked identify Washington’s brandsinina avariety varietyofof business categories. Within to identify Washington’smost mostrespected respected company company brands business categories. the residential real estate category, Windermere RealReal Estate waswas selected byby 58.8 Within the residential real estate category, Windermere Estate selected 58.8percent percentof the survey respondents as theasmost respected realreal estate company brand of the survey respondents the most respected estate company brandininWashington. Washington.

Most Respected Real Estate Brands Percentage of votes

1

Windermere Real Estate .................................................. 58.8%

2

John L. Scott Real Estate

3

Coldwell Banker Puget Sound Area Affiliates ................ 6.9%

4

Redfin ........................................................................................................ 4.1%

5

Re/Max ..................................................................................................... 4.0%

..........................................................

16.6%

This is an excerpt from an article that appeared in the July 29 –August 4, 2011 issue of Puget Sound Business Journal.

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©2014 Windermere Services Company. All rights reserved. WORC 07/14


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 a doing a transaction. Windermere

81%

Coldwell Banker

71%

John L. Scott

64%

RE/MAX

54%

Sotheby’s International Realty

48%

Keller Williams

45%

Lake & Company

43%

Berkshire Hathaway

34%

Gerrard Beattie & Knapp

27%

Redfin

16%

The Cascade Team

9%

The Force Real Estate

9%

RSVP Real Estate

9%

10%

20%

30%

40%

50%

60%

70%

80%

90%

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

23


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®

OVER 500 FIRMS n 3,500 OFFICES n 120,000 ASSOC OVER ONE MILLION TRANSACTIONS n $314 BILLI

® ®

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

WORC 05/14 #14146-4

® ®

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

WORC 05/14 #14146-4

windermere.com

Profile for Windermere Eastside

Eastside Market Review Second Quarter 2015  

Eastside real estate statistics for the second quarter of 2015.

Eastside Market Review Second Quarter 2015  

Eastside real estate statistics for the second quarter of 2015.

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