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2015 Recap
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From Bellevue to Woodinville, the Eastside housing market achieved significant gains in 2015. All but one Eastside city saw increases in both home prices and number of homes sold. The area’s concentration of major employers, high-achieving schools and sought-after amenities resulted in Eastside home prices continuing to appreciate ahead of the market. Across all Eastside communities, the average price of a single family residence grew 8% to over $635,000. Some communities on the Eastside saw even greater price increases. With Eastside housing inventory at record lows at year-end, and with net migration into our area continuing to be strong, prices look poised to continue to climb again throughout 2016.
2015 Real Estate Market Recap
A VIEW FROM THE EASTSIDE
EASTSIDE MARKET REVIEW
The Eastside housing market benefits from having some of the best schools in the state. Eastside communities are so sought after in large part due to our superior schools. This is reflected by the fact that the top four school districts as ranked by median home price are all located on the Eastside.
Statewide rankings by district:1. Mercer Island - $1,200,0002. Bellevue - $822,0003. Issaquah - $690,0004. Lake Washington - $675,000
Great schools mean higher home values
In 2015, over 12,000 Eastside properties exchanged hands, moving our market back to pre-recession sales levels. Among all property types there was a 7.1% increase in units sold compared to 2014. All property types saw gains, with condominiums having the strongest unit increase, an 11.2% uptick over 2014. For single family homes, Renton, Newcastle, Duvall and Clyde Hill saw unit sales increases above 15%. Eastside home prices also made strides in 2015, with substantial gains in most neighborhoods due to strong buyer demand and record-low inventory. Many sellers received multiple offers leading to sales prices above list. For single family homes, Bellevue, Issaquah, Redmond and Snoqualmie saw Sold-to-List price ratios above 100%, while Bellevue, Clyde Hill, Duvall and North Bend achieved Average Sales Price increases of more than 10% over 2014.
TOTAL UNIT SALES 2015 VS. 2014
AVERAGE HOME PRICE 2015 VS. 2014
EASTSIDE MARKET REVIEW
For both buyers and sellers the Eastside real estate market sped up in 2015, with Average Days on Market dropping from the previous year. Single family homes in five communities – Fall City, Medina, Newcastle, North Bend andSnoqualmie – sold more than 20% faster thanthey did in 2014. The health of the Eastsidehousing market was showcased by dramaticincreases in overall sales volumes. $6.8 billionworth of single family homes exchanged handsin 2015, a 13.2% increase. Condominium salescracked the $1 billion mark, for a 17.6% increaseover 2014 levels. For all property types, the$8.1 billion in home sales represented a 14.1%increase over the year before. Proof positive that2015 was a historic year for the Eastside realestate market.
AVG. DAYS ON MARKET 2015 VS. 2014
TOTAL SALES VOLUME 2015 VS. 2014
COLDWELL BANKER BAIN | BELLEVUE
BELLEVUE
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $1.44B | $1.24B | 15.3%TOTAL HOMES SOLD 1,453 | 1,404 | 3.5%AVG. SALES PRICE $991,500 | $889,600 | 11.5%AVG. DAYS ON MARKET 26 | 30 | -13.3%SOLD/LIST PRICE % 100.1% | 99.9% | 0.2%
CARNATION
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $62.87M | $62.37M | 0.8%TOTAL HOMES SOLD 121 | 127 | -4.7%AVG. SALES PRICE $519,600 | $491,100 | 5.8%AVG. DAYS ON MARKET 66 | 59 | 11.9%SOLD/LIST PRICE % 98.1% | 99.1% | -1.0%
Based on information from the Northwest Multiple Listing Service, data reflects sales of Single Family Homes.
EASTSIDE MARKET REVIEW
Anastasia [email protected]
DUVALL
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $109.9M | $77.3M | 42.2%TOTAL HOMES SOLD 235 | 184 | 27.7%AVG. SALES PRICE $467,500 | $419,900 | 11.3%AVG. DAYS ON MARKET 37 | 39 | -5.1%SOLD/LIST PRICE % 99.2% | 97.3% | -1.1%
CLYDE HILL
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $151.64M | $71.6M | 111.8%TOTAL HOMES SOLD 63 | 40 | 57.5%AVG. SALES PRICE $2.4M | $1.79M | 34.5%AVG. DAYS ON MARKET 52 | 30 | 73.3%SOLD/LIST PRICE % 97.9% | 98% | -0.1%
Data compiled by Coldwell Banker Bain; Northwest Multiple Listing Service does not guarantee its accuracy.
COLDWELL BANKER BAIN | BELLEVUE
Anastasia Miles425-260-5881
FALL CITY
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $45.62M | $41.72M | 9.4%TOTAL HOMES SOLD 72 | 68 | 5.9%AVG. SALES PRICE $633,600 | $613,500 | 3.3%AVG. DAYS ON MARKET 60 | 80 | -25.0%SOLD/LIST PRICE % 96.2% | 97.3% | -1.1%
ISSAQUAH
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $518.93M | $498.99M | 4.0%TOTAL HOMES SOLD 768 | 805 | -4.6%AVG. SALES PRICE $675,700 | $619,700 | 9.0%AVG. DAYS ON MARKET 31 | 31 | 0.0%SOLD/LIST PRICE % 100.3% | 100.0% | 0.3%
Based on information from the Northwest Multiple Listing Service, data reflects sales of Single Family Homes.
EASTSIDE MARKET REVIEW
Anastasia [email protected]
MEDINA
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $146.18M | $163.58M | -10.6%TOTAL HOMES SOLD 60 | 58 | 3.4%AVG. SALES PRICE $2.44M | $2.82M | -13.6%AVG. DAYS ON MARKET 48 | 62 | -22.6%SOLD/LIST PRICE % 97.9% | 96.9% | 1.0%
KIRKLAND
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $872.62M | $787.09M | 10.9%TOTAL HOMES SOLD 1,160 | 1,120 | 3.6%AVG. SALES PRICE $752,300 | $702,800 | 7.0%AVG. DAYS ON MARKET 30 | 37 | -18.9%SOLD/LIST PRICE % 99.9% | 98.8% | 1.1%
Data compiled by Coldwell Banker Bain; Northwest Multiple Listing Service does not guarantee its accuracy.
COLDWELL BANKER BAIN | BELLEVUE
Anastasia Miles425-260-5881
MERCER ISLAND
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $498.65M | $472.29M | 5.6%TOTAL HOMES SOLD 328 | 338 | -3.0%AVG. SALES PRICE $1.52M | $1.40M | 8.8%AVG. DAYS ON MARKET 41 | 50 | -18.0%SOLD/LIST PRICE % 98.0% | 97.3% | .7%
NEWCASTLE
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $151.22M | $120.11M | 25.9%TOTAL HOMES SOLD 206 | 171 | 20.5%AVG. SALES PRICE $734,100 | $702,400 | 4.5%AVG. DAYS ON MARKET 37 | 47 | -21.3%SOLD/LIST PRICE % 99.7% | 98.9% | 0.8%
Based on information from the Northwest Multiple Listing Service, data reflects sales of Single Family Homes.
EASTSIDE MARKET REVIEW
Anastasia [email protected]
REDMOND
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $828.46M | $747.8M | 10.8%TOTAL HOMES SOLD 1,175 | 1,115 | 5.4%AVG. SALES PRICE $705,100 | $670,700 | 5.1%AVG. DAYS ON MARKET 33 | 39 | -15.4%SOLD/LIST PRICE % 100.5% | 99.7% | 0.8%
NORTH BEND
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $141.94M | $123.63M | 14.8%TOTAL HOMES SOLD 292 | 293 | -0.3%AVG. SALES PRICE $486,100 | $422,000 | -27.5%AVG. DAYS ON MARKET 50 | 69 | -27.5%SOLD/LIST PRICE % 99.5% | 98.6% | 0.9%
Data compiled by Coldwell Banker Bain; Northwest Multiple Listing Service does not guarantee its accuracy.
COLDWELL BANKER BAIN | BELLEVUE
Anastasia Miles425-260-5881
RENTON
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $780.16M | $642.21M | 21.5%TOTAL HOMES SOLD 1,891 | 1,629 | 16.1%AVG. SALES PRICE $412,600 | $394,200 | 4.7%AVG. DAYS ON MARKET 40 | 45 | -11.1%SOLD/LIST PRICE % 99.9% | 99.6% | 0.3%
SAMMAMISH
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $819.52M | $744.44M | 10.1%TOTAL HOMES SOLD 1,014 | 978 | 3.7%AVG. SALES PRICE $808,200 | $761,200 | 6.2%AVG. DAYS ON MARKET 33 | 39 | -15.4%SOLD/LIST PRICE % 99.9% | 99.6% | 0.3%
Based on information from the Northwest Multiple Listing Service, data reflects sales of Single Family Homes.
EASTSIDE MARKET REVIEW
Anastasia [email protected]
WOODINVILLE
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $382.48M | $317.33M | 20.5%TOTAL HOMES SOLD 579 | 524 | 10.5%AVG. SALES PRICE $660,600 | $605,600 | 9.1%AVG. DAYS ON MARKET 39 | 37 | 5.4%SOLD/LIST PRICE % 99.5% | 99.0% | 0.5%
SNOQUALMIE
2015 | 2014 | % CHANGE
TOTAL SALES VOLUME $237.31M | $216.16M | 9.8%TOTAL HOMES SOLD 433 | 407 | 6.4%AVG. SALES PRICE $548,100 | $531,100 | 3.2%AVG. DAYS ON MARKET 36 | 48 | -25.0%SOLD/LIST PRICE % 100.4% | 99.4% | 1.0%
Data compiled by Coldwell Banker Bain; Northwest Multiple Listing Service does not guarantee its accuracy.
COLDWELL BANKER BAIN | BELLEVUE
Anastasia Miles425-260-5881
2015 RECAP
The many successes of Coldwell Banker Bain’s Bellevue office in 2015 were a testament to the hard work of its professional brokers. This group once again achieved recognition as the top-selling real estate office in the state. The two highest priced home sales in 2015 were both listed and sold by CBBain Bellevue brokers, proving the power of our broker-to-broker network. Connecting buyers and sellers is what we do best, and these results prove it:
#1 in total sales volume in Washington state
#1 in sales volume on the Eastside
#1 in sales volume and units for homes over $1,000,000
With more closed sales volume than any other office, and with an 18% increase in total sales over what they achieved in 2014, CBBain Bellevue brokers proved their value to both their buyers and sellers. Winning multiple offer situations in 2015 was a challenge and our brokers excelled well beyond the industry norm. At the same time our brokers set the stage for sellers to succeed – often beyond their already lofty expectations. These outcomes are the hallmark of our brokers’ knowledge, preparation and hard work.
2016 is already proving to be another banner year for Coldwell Banker Bain Bellevue and our clients. Won’t you join us on the path to success?
COLDWELL BANKER BAIN | BELLEVUE
HUNTS POINT SOLD FOR $11,200,000
EASTSIDE MARKET REVIEW
