Eastside Market Review · Eastside Market Review. ... he Eastside closed out the year with a record low number of homes for sale, and record high prices. With the healthy regional

Q4 Eastside real estate statistics for the fourth quarter of 2016

Eastside Market Review

2016 Q4 OV ERV IE W

The Eastside closed out the year with a record low number of homes for sale, and record high prices. With the healthy regional economy, demand remains very strong. Experts predict that the real estate market in 2017 will continue to be highly favorable for sellers.

• Strong demand driven by a booming tech economy and great schools continue to strain the already low supply of homes on the Eastside, which now posts just four weeks of inventory. Three to six months of inventory is considered to be balanced.

• With supply failing to meet demand, the median price for homes sold at the end of the quarter soared 19 percent to a new record high of $803,500. It was not unusual for a well-priced new listing to receive dozens of offers and to sell for well over asking price.

• The good news: those who decide to take the plunge and list their home can count on getting a premium price for their property. In December, 39% of houses that sold went above the asking price and 57% had less than 15 days on the market.

2[ Cover photo: listing #1037696 on page 14 ]

http://www.windermere.com/listing/48699770

• Eastside (Areas 500-600) .................................................................................................... 4• Bellevue:

• Bellevue / East of I-405 .............................................................................................. 6

• Bellevue / West of I-405 ............................................................................................ 8

• Eastside / South of I-90 ............................................................................................10

• East of Lake Sammamish / Issaquah ........................................................................12

• Kirkland / Bridle Trails .........................................................................................................14

• Mercer Island .............................................................................................................................16

• Redmond / Carnation ..........................................................................................................18

• Renton Highlands ...................................................................................................................20

• Woodinville / Juanita / Duvall .......................................................................................22

• Market Share ..............................................................................................................................24

• Why Windermere ...........................................................................................................25–27

• Local Expertise, Global Connections ......................................................................28

[ click on area to jump to that page ]

3

Hollywood Hill17350 NE 152nd St

$3,150,0005 Bed / 7.25 Bath / 11,544 SQFT

MLS #: 1004365

Lot Size: 4.05 acres

Year Built: 2000

Style: 2 Stories with Basement

Views: Territorial, Mountain

School District: Northshore

Eastside (Areas 500-600)

High Price Listing

Forbes Creek10614 NE 112th St

$600,0003 Bed / 1.0 Bath / 1,370 SQFT

MLS #: 1065725

Lot Size: 9,500 sqft

Year Built: 1954

Style: 1 Story

Views: None

School District: Lake Washington

Low Price Listing

Kingsgate14113 117th Place NE

$799,995 7 Bed / 3.0 Bath / 3,040 SQFT

MLS #: 1039412


Year Built: 1966

Style: 11/2 Story

Views: None


Medium Price Listing

4




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.

2016 Q4

Median Closed Sales Price > DECEMBER

Closed Sales > DECEMBERMonths Supply of Inventory > DECEMBER(includes pending sales)

less than 3 months = seller’s market

3 -6 months = balanced market

more than 6 months = buyer’s market

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

2015 2016 10 year average

$589,500$550,000

$520,000 $530,000

$460,000

$510,468$550,000

$639,350$675,000

$803,500

-7% -5% +2% -13% +11% +8% +16% +6% +19%

1.31.1

4.5


636 600513

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

5

West Lake Sammamish246 W Lake Sammamish Pkwy SE

$2,500,0006 Bed / 6.5 Bath / 5,965 SQFT

MLS #: 1066114


Year Built: 2016


Views: Mountain, Lake

School District: Bellevue

Bellevue / East of I-405

High Price Listing

Microsoft16004 NE 27th St

$631,0003 Bed / 1.5 Bath / 1,410 SQFT

MLS #: 1043338


Year Built: 1955

Style: 1 Story

Views: None


Low Price Listing

Microsoft 3115 181st Ave NE

$825,000 4 Bed / 2.5 Bath / 2,860 SQFT

MLS #: 1061864


Year Built: 1974

Style: 2 Story

Views: Lake



6





2016 Q4


Closed Sales > DECEMBERMonths Supply of Inventory > DECEMBER(includes pending sales)




2007 2008 2009 2010 2011 2012 2013 2014 2015 2016


$526,450$490,000

$450,000 $437,500 $450,000$480,000

$510,000

$581,250$625,000

$734,000

-7% -8% -3% +3% +7% +6% +14% +8% +17%

0.80.4

3.2


63 61

48


7

Bellevue / West of I-405

Meydenbauer719 96th Ave SE

$12,980,0005 Bed / 5.75 Bath / 14,140 SQFT

MLS #: 1064171

Lot Size: 2.5 acres

Year Built: 2003


Views: Mountain, Lake, City


High Price Listing

Bellevue1615 108th Ave SE

$978,000 5 Bed / 2.5 Bath / 2,510 SQFT

MLS #: 1046948


Year Built: 1946

Style: 11/2 Story with Basement

Views: Territorial


Low Price Listing

West Bellevue733 96th Ave NE

$2,688,0005 Bed / 4.0 Bath / 4,771 SQFT

MLS #: 971968

Lot Size: 7,302 SQFT

Year Built: 2016


Views: Territorial, Partial, Mountain, Lake



8





2016 Q4


9

Months Supply of Inventory > DECEMBER(includes pending sales)





Closed Sales > DECEMBER

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016


998,000$895,000

$675,000

$890,000$805,000

$1,035,000

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

$1,656,500

$2,125,000

-10% -25% +32% -10% +29% +26% +9% +17% +28%

1.8 1.8

7.3


3033

25

Eastside / South of I-90

Lakemont5742 173rd Ave SE

$1,888,0004 Bed / 4.25 Bath / 5,410 SQFT

MLS #: 1041228


Year Built: 2000

Style: 1 Story with Basement

Views: Territorial, Mountain, Lake

School District: Issaquah

High Price Listing

Squak Mountain265 SW Gibson Lane

$598,0004 Bed / 2.25 Bath / 1,940 SQFT

MLS #: 1063799


Year Built: 1978

Style: Multilevel



Low Price Listing

Issaquah16536 252nd Ave SE

$989,0004 Bed / 3.25 Bath / 3,510 SQFT

MLS #: 1059968


Year Built: 2016

Style: 11/2 Story




10









2016 Q4




2007 2008 2009 2010 2011 2012 2013 2014 2015 2016


$620,000$652,500

$574,500 $560,000$512,500

$593,975$552,500

$710,900 $730,000

$795,000

+5% -12% -3% -8% +16% -7% +29% +3% +9%

1.01.2

4.9


83

65 62

11

East of Lake Sammamish / Issaquah

Sammamish905 250th Ave NE

$3,300,0005 Bed / 4.75 Bath / 5,820 SQFT

MLS #: 1029889


Year Built: 2005

Style: 2 Story

Views: Territorial


High Price Listing

Wilderness Rim 42727 SE 168th Place

$465,0004 Bed / 2.0 Bath / 1,890 SQFT

MLS #: 1062691


Year Built: 1979

Style: Tri-level

Views: Territorial, Partial, Mountain

School District: Snoqualmie Valley

Low Price Listing

North Bend11024 428th Ave SE

$875,0003 Bed / 3.0 Bath / 3,390 SQFT

MLS #: 1063857


Year Built: 1995

Style: 2 Story

Views: River, Mountain

School District: Snoqualmie Valley


12









2016 Q4




2007 2008 2009 2010 2011 2012 2013 2014 2015 2016


$565,000 $550,000 $532,500$491,450

$448,500$488,695

$535,265

$632,000 $649,000

$840,000

-3% -3% -8% -9% +9% +10% +18% +3% +29%

1.7

1.1

3.9


169 175

137

13

Kirkland / Bridle Trails

Bridle Trails12741 NE 39th St

$2,295,0005 Bed / 4.0 Bath / 5,542 SQFT

MLS #: 920922


Year Built: 2008


Views: Territorial


High Price Listing

West Of Market640 16th Ave W

$699,0002 Bed / 1.0 Bath / 1,600 SQFT

MLS #: 1065226


Year Built: 1947

Style: 1 Story

Views: None


Low Price Listing

Rose Hill12412 NE 70th St

$895,0003 Bed / 2.25 Bath / 2,050 SQFT

MLS #: 1057589


Year Built: 1950

Style: 1 Story

Views: None



14





2016 Q4


15







2007 2008 2009 2010 2011 2012 2013 2014 2015 2016


$734,975 $729,500

$575,000$600,000

$550,000

$650,000

$714,500 $722,500

$830,000

$992,500

-1% -21% +4% -8% +18% +10% +1% +15% +20%

1.31.0

4.9


75

50 50

Mercer Island

West Mercer6260 W Mercer Wy

$1,449,0004 Bed / 2.75 Bath / 3,100 SQFT

MLS #: 1065102


Year Built: 1974

Style: 2 Story

Views: None

School District: Mercer Island

High Price Listing

Westside4451 Forest Ave SE

$8,998,0005 Bed / 4.25 Bath / 7,992 SQFT

MLS #: 923641


Year Built: 1999

Style: Multi Level

Views: Mountain, Lake, City


Low Price Listing

West Mercer5830 W Mercer Wy

$1,799,0005 Bed / 4.0 Bath / 5,680 SQFT

MLS #: 1063397


Year Built: 1980

Style: Multi Level

Views: Mountain, Lake



16









2016 Q4




2007 2008 2009 2010 2011 2012 2013 2014 2015 2016


$1,096,250

$1,005,000

$785,000

$876,000

$995,000

$893,500

$950,000

$1,151,250 $1,125,000

$1,349,500

-8% -22% +12% +14% -10% +6% +21% -2% +20%

2.73.0

6.8


2018

20

17

Redmond / Carnation

Novelty Hill11630 W Snoqualmie Valley Rd NE

$5,000,0003 Bed / 3.5 Bath / 3,700 SQFT

MLS #: 930115


Year Built: 2016

Style: 1 Story

Views: Territorial, River, Mountain

School District: Riverview

High Price Listing

Downtown Redmond9305 Woodinville-Redmond Rd NE

$550,0005 Bed / 2.0 Bath / 2,450 SQFT

MLS #: 1057566


Year Built: 1951

Style: 1 Story with Basement

Views: Territorial, Mountain, City


Low Price Listing

Microsoft7251 147th Ct NE

$849,9504 Bed / 2.5 Bath/ 2,593 SQFT

MLS #: 1058241


Year Built: 2009

Style: 2 Story

Views: None



18









2016 Q4




2007 2008 2009 2010 2011 2012 2013 2014 2015 2016


$510,500 $500,000$460,000

$520,000 $520,000 $534,029$563,950

$695,500

$607,500

$798,930

-2% -8% +13% 0% +3% +6% +23% -13% +32%

1.0 1.0

4.8


60 59 57

19

Renton Highlands

Kennydale2313 NE 27th St

$748,0005 Bed / 2.75 Bath / 2,726 SQFT

MLS #: 1058766

Lot Size: 0.3 acres

Year Built: 2016

Style: 2 Story

Views: Territorial

School District: Renton

High Price Listing

Highlands335 Anacortes Place NE Lot38

$407,9502 Bed / 2.5 Bath / 1,367 SQFT

MLS #: 1033916


Year Built: 2016

Style: Multi Level

Views: None


Low Price Listing

Highlands12408 SE 98th St

$449,9503 Bed / 1.75 Bath / 1,480 SQFT

MLS #: 1065569


Year Built: 1974

Style: 1 Story

Views: Territorial



20









2016 Q4




2007 2008 2009 2010 2011 2012 2013 2014 2015 2016


$439,755 $440,000

$359,000

$309,000

$253,750$290,000

$395,985$429,950

$452,500$474,750

0% -18% -14% -18% +14% +37% +9% +5% +5%

1.41.1

3.9


90

80

62

21

Woodinville / Juanita / Duvall

English Hill14140 184th Ave NE

$4,750,0003 Bed / 3.0 Bath / 4,094 SQFT

MLS #: 1027172


Year Built: 1978

Style: 2 Story

Views: Mountain, Territorial


High Price Listing

Low Price Listing

Hollywood Hill16307 NE 180th St

$849,9503 Bed / 2.5 Bath / 2,730 SQFT

MLS #: 1020345

Lot Size: 1.7 acres

Year Built: 1990

Style: 2 Story

Views: None



22

Cottage Lake17654 197th Ave NE

$300,0003 Bed / 1.0 Bath / 970 SQFT

MLS #: 1063313


Year Built: 1972

Style: 1 Story

Views: None










2016 Q4




2007 2008 2009 2010 2011 2012 2013 2014 2015 2016


$526,500

$401,750 $416,725$435,000

$339,950

$424,952

$474,000 $473,000

$548,500

$661,000

-24% +4% +4% -22% +25% +12% 0% +16% +21%

1.5

0.9

4.8


136 139

114

23

Market Share by Company 2016

Windermere

John L. Scott

Coldwell Banker

RE/MAX

Keller Williams

Redfin

Skyline

Sotheby’s International Realty

The Cascade Team

RSVP Real Estate

5% 10% 15% 20% 25% 30% 35%

27%19%

12%11%

10%9%

7%7%

6%7%

Representing Sellers Representing Buyers

Eastside > by number of transactions

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

2%6%

2%2%

3%5%

2%1%

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 1/1/2016–12/31/2016 in areas 500, 510, 520, 530, 540, 550, 560, 600.

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

2%1%

24

Why Windermere

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 doing a transaction.

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

Windermere

Coldwell Banker

John L. Scott

RE/MAX

Sotheby’s International Realty

Keller Williams

Lake & Company

Berkshire Hathaway

Gerrard Beattie & Knapp

Redfin

The Cascade Team

The Force Real Estate

RSVP Real Estate

10% 20% 30% 40% 50% 60% 70% 80% 90%

81%

71%

16%

9%

9%

9%

64%

54%

48%

45%

43%

34%

27%

25

Multiple offers? Your broker can make or break your deal.

26*Multiple offers estimated at listings that sold above list price. Based on single family home sales in King County in 2016. New construction, condominiums and short sales were excluded.

**Based on a 2015 independent studxy of NWMLS brokers who closed six or more transactions in the previous year.

Buyers working with a Windermere broker are 15% more likely to be the selected buyer in multiple offers.*

Why Windermere brokers are most successful:• Windermere brokers help position their buyer’s offer to have the greatest appeal to the seller.

• Windermere brokers receive extensive training on how to create the most competitive offer and negotiate successfully in a multiple offer situation..

• Brokers are more confident in completing a transaction with a broker from Windermere than they are with any other real estate company.**

Success in multiple offers*Change in buyer market share in multiple offers vs. non-multiple offers.

53% of home sales involve multiple offers.*

Windermere

Skyline Properties

Redfin

Keller Williams

RE/MAX

The Force Realty

Coldwell Banker

Berkshire Hathaway

Sotheby’s

0.6%

0.3%

3%

0.3%

0.2%

0.2%

0.1%

-0.1%

-0.3%

-1.4%John L. Scott

TOP T EN FIRMS CHOSEN BY BUYERS

Acres of DiamondsProvides homeless women and children a safe haven and academic, relational and emotional mentoring.

Assistance League of the EastsideOperation Scholl Bell provides new Back-To-School clothing for disadvantaged students on the Eastside.

Attain HousingTransitioning homeless families with children into stable, permanent housing.

Backpack MealsProvides weekend’s worth of food to low income students in the Bellevue School District.

Bellevue Lifespring (formerly Overlake Service League)Provides meals to children on free and reduced cost lunch programs when school is not in session.

Birthday DreamsProvides Birthday-In-A-Box to homeless children.

Boys & Girls Club of BellevueFunds going to Project Learn — serving kids from 3 East Bellevue low-income housing developments.

Congregation for the Homeless/Valley Renewal CenterProvides food, toiletries, clothing, blankets, etc. to homeless families.

Eastside AcademyPays for food expenses for homeless and poverty-level students while they attend this alternative school.

Eastside Baby CornerDistributes basic need items for infants and children.

HopelinkSupports the Pantry Pack Program which provides lunches to poverty-level children.

Imagine HousingTargets under 18-year-olds in their Support Services Program that provides affordable housing and life skill case management in East King County.

Issaquah Community ServicesProvides emergency aid in the form of utility payments to low-income families.

KinderingProvides parent coaching at transitional housing sites.

LifeWire (formerly Eastside Domestic Violence)Provides emergency housing and support services for those fleeing abusive home situations.

Mamma’s HandsThe House of Hope program supports three shelters for homeless women and children in crisis.

Royal Family Kids CampProvides summer camp experiences for abused foster children.

TreehouseSupports the Little Wishes Program which allows foster care youth to participate in extracurricular arts, athletic and other educational experiences.

Youth Eastside ServicesSupports YES Lifeline, which provides free mental health counseling and substance abuse treatment.

The Windermere Foundation benefits local nonprofits in our neighborhoods. Together we can give homeless and low-income children in our communities an opportunity for a brighter future. Below are the nonprofits that received Eastside Windermere Foundation funds in 2016.

A Brighter Future Because of You!

2016 Donation Grantees List Eastside Windermere Foundation

27

windermere.com

Local Expertise, Global Connections, Powerful Marketing

We Market Your Property to the World

When selling your home, you need global exposure in addition to the strong marketing expertise we deliver locally. As an affiliate of Leading Real Estate Companies of the World®, we have the resources to market your property to the highest possible number of potential buyers. With 120,000 talented associates around the world, we expose your property to buyers on six continents, ensuring more eyes on your property. In addition, we receive inbound clients from other affiliates around the globe who are interested in purchasing a home.

Leading Real Estate Companies of the World® is a pedigree denoting the very best companies who represent qualified clientele and wish to do business with similar firms. Each year our network is collectively responsible for over one million transactions on a global basis.

When your home is posted to our website locally, it is immediately promoted on the LeadingRE.com website. It is also immediately connected to the websites of over 500 of our affiliated real estate firms in the world.

®

®

WE MARKET YOUR PROPERTY TO THE WORLDWhen selling your home, you need global exposure in addition to the strong marketing expertise we deliver locally. As an affiliate of Leading Real Estate Companies of the World®, we have the resources to market your property to the highest possible number of potential buyers. With 120,000 talented associates around the world, we expose your property to buyers on six continents, ensuring more eyes on your property. In addition, we receive inbound clients from other affiliates around the globe who are interested in purchasing a home.



Local Expertise, Global Connections,

Powerful Marketing

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

WORC 05/14 #14146-4

®

®





Powerful Marketing


WORC 05/14 #14146-4

®

®





Powerful Marketing


WORC 05/14 #14146-4

http://www.windermere.com/

http://www.windermere.com/

Documents

Eastside Market Review · Eastside Market Review. ... he Eastside closed out the year with a record low number of homes for sale, and record high prices. With the healthy regional