EASTSIDE Q3
AREA
MARKET
REPORT
Based on information from the NWLMS, data reflects sales of single family homes and condos between 7/1/19 and 9/30/19.
coldwellbankerbain.com
EASTSIDE AREA
M
ike Winkler, Principal Managing Broker of Coldwell Banker Bain of Mercer Island, said, “As a market unto itself, Mercer Island trends appear more dramatic than those experienced in the Greater Puget Sound, certainly attributable to both price and inventory. The good news is that while pricing has seen significant reductions with new listings, pending and closed sales reversed a negative trend and were both up in price and units. The market flux makes one ask if this is our ‘new normal,’, and only time will tell. Again, spot-on pricing results
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Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
in buyers making near to full-price offers and transactions closing. In the meantime, there have been news reports regarding simple rule changes on how brokers are compensated. Suffice it to say, this is an excellent opportunity to discuss with your choice of listing broker on Mercer Island. Remaining competitive, closing, and moving on is at the heart of the discussion points. In other news, interest rates remain at historically lows and the employment and business growth outlook in Puget Sound remain optimal.”
EASTSIDE AREA Bellevue | Bothell | Carnation | Clyde Hill | Duvall | Issaquah Kirkland | Medina | Mercer Island
SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY
AVERAGE SOLD PRICE (Nearest $000)
AVERAGE DOM
Eastside Area
$966,000
36
Bellevue
$1,340,000
36
Bothell
$685,000
31
Carnation
$695,000
53
Clyde Hill
$3,247,000
86
Duvall
$659,000
28
Issaquah
$993,000
43
Kirkland
$1,123,000
39
Medina
$3,364,000
96
Mercer Island
$2,006,000
54
$0
$500k
$1m
$1.5m
$2m
$2.5m
$3m
$3.5m
NUMBER OF SALES CLOSED 500 400 300
494 375 299
200
66
38 339
100
76
166
14
13
0 Bellevue
Bothell
Carnation
Clyde Hill
Duvall
Issaquah
Kirkland
Medina
Mercer Island
INVENTORY IN UNITS - 10/01/2019
1000
800
225
306
33
19
36
116
194
25
83
600-25.7%
-18.6%
-10.8%
0.0%
-33.3%
-28.0%
-12.2%
+13.6%
-5.7%
Bellevue 400
Bothell
Carnation
Clyde Hill
Duvall
Issaquah
Kirkland
Medina
Mercer Island
20039 +5.4%
0
81
149
292
195
31
+15.7%
-20.7%
-24.2%
-18.8%
-39.2%
102
469
112
306
-19.0%PACIFIC NORTHWEST -25.7% -9.7% +4.4% Q3 | 2019 MARKET REPORT
3
EASTSIDE AREA LUXURY
J
ennifer Cameron, Vice President of Global Luxury and Principal Managing Broker of Coldwell Banker Bain of Lincoln Square, said, “You might be surprised to know that while the media typically lumps all national real estate markets into one report, our markets are vastly different. New York City prices are down as
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Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
much as 40 percent from a year ago while Los Angeles has had a very stable and consistent market for the last four years. Seattle and the Eastside are retracting in the luxury market. The one commonality between all is that foreign buyers have disappeared. This means more opportunities and less competition for buyers.�
EASTSIDE AREA Newcastle | North Bend | Renton | Redmond | Sammamish Snoqualmie | Woodinville
SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY
AVERAGE DOM
AVERAGE SOLD PRICE (Nearest $000) Newcastle
$951,000
38
North Bend
$731,000
30
Redmond
$1,031,000
30
Renton
$583,000
29
500 Sammamish
$1,116,000
42
Snoqualmie 400
$775,000
25
Woodinville 300 Area Condos
$1,009,000
50
$528,00
30
(SF Only)
$1,897,000
53
Area 100Luxury ($1+M | SF+C)
$2,874,000
67
Area 200Waterfront
0
$0
$500k
$1m
$1.5m
$2m
$2.5m
$3m
NUMBER OF SALES CLOSED
3018
1000
TOTAL SALES CLOSED
800
862
600 400 200
506 100
42
308
275
88
88
Newcastle
225
North Bend
306
Redmond
Renton
33
Sammamish
19
-25.7% -18.6% -10.8% 0.0% INVENTORY IN UNITS - 10/01/2019
173
158
0 Snoqualmie
Woodinville
36
116
194
-33.3%
-28.0%
-12.2%
Area Condos
Area Waterfront
25 (SF Only)
+13.6%
Total Eastside Inventory
Area Luxury ($2+M / SF+C)
83
-5.7%
1926
-19.0%
39
81
149
292
195
31
102
469
112
306
+5.4%
+15.7%
-20.7%
-24.2%
-18.8%
-39.2%
-19.0%
-25.7%
-9.7%
+4.4%
Newcastle
North Bend
Redmond
Renton
Sammamish
Area Waterfront
($2+M / SF+C)
Snoqualmie
Woodinville
Area Condos
Area Luxury
(SF Only)
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
5
EASTSIDE AREA
6
EASTSIDE AREA
AREA CONDOS
Q3 2019 | Q3 2018 | % CHANGE
Q3 2019 | Q3 2018 | % CHANGE
TOTAL HOMES SOLD 3018 | 2938 | 2.72% AVERAGE SOLD PRICE $966,000 | $968,000 | -.21% AVERAGE DAYS ON MARKET 36 | 24 | 50% SOLD/LIST PRICE % 99.% | 100% | -1%
TOTAL HOMES SOLD 862 | 908 | -5.07% AVERAGE SOLD PRICE $528,000 | $533,000 | -.94% AVERAGE DAYS ON MARKET 30 | 16 | 87.5% SOLD/LIST PRICE RATIO 99% | 100% | -1%
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
EASTSIDE AREA
BELLEVUE
CLYDE HILL
Q3 2019 | Q3 2018 | % CHANGE
Q3 2019 | Q3 2018 | % CHANGE
TOTAL HOMES SOLD 375 | 311 | 20.58% AVERAGE SOLD PRICE $1,340,000 | $1,370,000 | -2.19% AVERAGE DAYS ON MARKET 36 | 21 | 71.43% SOLD/LIST PRICE % 99% | 97% | 2%
TOTAL HOMES SOLD 14| 9 | 55.56% AVERAGE SOLD PRICE $3,247,000 | $3,411,000 | -4.81% AVERAGE DAYS ON MARKET 86 | 46 | 86.96% SOLD/LIST PRICE RATIO 95% | 95% | 0%
BOTHELL
CARNATION
Q3 2019 | Q3 2018 | % CHANGE
Q3 2019 | Q3 2018 | % CHANGE
TOTAL HOMES SOLD 494 | 453 | 9.05% AVERAGE SOLD PRICE $685,000 | $723,000 | -5.26% AVERAGE DAYS ON MARKET 31 | 24 | 29.17% SOLD/LIST PRICE RATIO 100% | 100% | 0%
TOTAL HOMES SOLD 38 | 44 | -13.64% AVERAGE SOLD PRICE $695,000 | $750,000 | -7.33% AVERAGE DAYS ON MARKET 53 | 43 | 23.26% SOLD/LIST PRICE % 99% | 99% | 0%
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
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EASTSIDE AREA
8
DUVALL
MEDINA
Q3 2019 | Q3 2018 | % CHANGE
Q3 2019 | Q3 2018 | % CHANGE
TOTAL HOMES SOLD 66 | 88 | -25.00% AVERAGE SOLD PRICE $659,000 | $698,000 | -5.59% AVERAGE DAYS ON MARKET 28 | 34 | -17.65% SOLD/LIST PRICE % 99% | 100% | -1%
TOTAL HOMES SOLD 13 | 11 | 18.18% AVERAGE SOLD PRICE $3,364,000 | $5,539,000 | -39.27% AVERAGE DAYS ON MARKET 96 | 40 | 140% SOLD/LIST PRICE RATIO 97% | 95% | 2%
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
EASTSIDE AREA
ISSAQUAH
MERCER ISLAND
Q3 2019 | Q3 2018 | % CHANGE
Q3 2019 | Q3 2018 | % CHANGE
TOTAL HOMES SOLD 166 | 214 | -22.43% AVERAGE SOLD PRICE $993,000 | $981,000 | 1.22% AVERAGE DAYS ON MARKET 43 | 28 | 53.57% SOLD/LIST PRICE % 99% | 99% | 0%
TOTAL HOMES SOLD 76 | 79 | -3.80% AVERAGE SOLD PRICE $2,006,000 | $1,919,000 | 4.53% AVERAGE DAYS ON MARKET 54 | 22 | 145.45% SOLD/LIST PRICE % 97% | 99% | -2%
KIRKLAND
NEWCASTLE
Q3 2019 | Q3 2018 | % CHANGE
Q3 2019 | Q3 2018 | % CHANGE
TOTAL HOMES SOLD 299 | 305 | -1.97% AVERAGE SOLD PRICE $1,123,000 | $1,075,000 | 4.47% AVERAGE DAYS ON MARKET 39 | 22 | 77.27% SOLD/LIST PRICE RATIO 99% | 100% | -1%
TOTAL HOMES SOLD 42 | 32 | 31.25% AVERAGE SOLD PRICE $951,000 | $1,109,000 | -14.25% AVERAGE DAYS ON MARKET 38 | 23 | 65.22% SOLD/LIST PRICE % 98% | 98% | 0%
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
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EASTSIDE AREA
10
NORTH BEND
SAMMAMISH
Q3 2019 | Q3 2018 | % CHANGE
Q3 2019 | Q3 2018 | % CHANGE
TOTAL HOMES SOLD 100 | 88 | 13.64% AVERAGE SOLD PRICE $731,000 | $661,000 | 10.59% AVERAGE DAYS ON MARKET 30 | 14 | 114.29% SOLD/LIST PRICE RATIO 100% | 100% | 0%
TOTAL HOMES SOLD 308 | 286 | 7.69% AVERAGE SOLD PRICE $1,116,000 | $1,133,000 | -1.5% AVERAGE DAYS ON MARKET 42 | 28 | 50% SOLD/LIST PRICE % 99% | 100% | -1%
REDMOND
SNOQUALMIE
Q3 2019 | Q3 2018 | % CHANGE
Q3 2019 | Q3 2018 | % CHANGE
TOTAL HOMES SOLD 275 | 289 | -4.84% AVERAGE SOLD PRICE $1,031,000 | $1,031,000 | 0% AVERAGE DAYS ON MARKET 30 | 19 | 57.89% SOLD/LIST PRICE RATIO 100% | 101% | -1%
TOTAL HOMES SOLD 88 | 106 | -16.98% AVERAGE SOLD PRICE $775,000 | $768,000 | .91% AVERAGE DAYS ON MARKET 25 | 18 | 38.89% SOLD/LIST PRICE RATIO 99% | 100% | -1%
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
EASTSIDE AREA
RENTON
WOODINVILLE
Q3 2019 | Q3 2018 | % CHANGE
Q3 2019 | Q3 2018 | % CHANGE
TOTAL HOMES SOLD 506 | 449 | 12.69% AVERAGE SOLD PRICE $583,000 | $568,000 | 2.64% AVERAGE DAYS ON MARKET 29 | 23 | 26.09% SOLD/LIST PRICE % 100% | 100% | 0%
TOTAL HOMES SOLD 158 | 174 | -9.2% AVERAGE SOLD PRICE $1,009,000 | $940,000 | 7.34% AVERAGE DAYS ON MARKET 50 | 23 | 117.39% SOLD/LIST PRICE RATIO 98% | 100% | -2%
Q3 | 2019 PACIFIC NORTHWEST MARKET REPORT
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coldwellbankerbain.com
*Information and statistics derived by CB Bain from the Northwest Multiple Listing Service (NWMLS), Regional Multiple Listing Service (RMLS) and the Multiple Listing Service of Central Oregon (MLSCO) each quarter. Statistics not compiled or published by the NWMLS, RMLS or MLSCO.