THE MARKETPLACE
Released Q1 2017 Year over Year Report
MARKET REPORT
Performance of Single Family Homes in Select Cities Across Washington State
THE MARKETPLACE Thank you for taking the time to read our Year-overYear market report produced by Marketplace Sotheby’s International Realty. Inventory was recorded at a record low for most of the year which challenged both brokers and buyers – just one more reason you need a strategic negotiator such as our MSIR brokers on your side. Year-overyear prices for single family homes were 8.7% up on average, rising from $320,000 in 2015 to last year’s median price of $347,950. Closed sales figures for 2016 point to an over 8.1 percent increase. In the past year, sales of single family homes were up over 18%, valuing over 40 billion. The area-wide median price for last year’s sales of single family homes and condominiums was $337,500, a gain of 8.9 percent from the year-ago figure of $310,000. There was also dramatic increase in luxury sales in 2016. According to the Northwest MLS, there were 3,251 reported sales of single family homes priced at $1 million or more. This is an increase of over 21 percent over the previous year. The highest-priced single family home that sold during 2016 by a member of Northwest MLS was a property on Mercer Island at over $9.75 million. Yearly Highlights • About 45 percent of last year’s single family home sales had three bedrooms, while the vast majority of condos (nearly 76 percent) had two bedrooms or fewer. • The median price for a 3-bedroom home that sold in 2016 was $311,000, about 9.8 percent higher than the previous year’s figure of $283,250. A comparison by county shows the median price for a 3-bedroom home ranges from $120,000 in Ferry County to $485,000 in King County. • Of the condo sales, about six of every 10 (61.7 percent) were located in King County, primarily in Seattle or on the Eastside. That ratio matched the figure for 2015. • For the new construction component involving Northwest MLS brokers, newly built condos fetched higher prices than single family homes, just like 2015. Last year’s sales included 9,416 newly built single family homes that sold for a median price of $455,000 (up 11.8 percent from 2015), and 1,375 condos that sold for a median price of $552,900 (up 22.9 percent from 2015). • A comparison of 2016 and 2015 median prices of single family homes shows all but one county reported yearover-year gains. Going back to 2007, most counties have rebounded. • Prices vary widely among school districts. Homes that sold last year in 13 districts reported median prices of more than a half-million dollars, topped by Mercer Island at more than $1.3 million (Information courtesy of NWMLS). [ 2]
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CONTENTS
YOY MARKE T REPORT/JAN 2017
4 Woodinville Report 5 Redmond Report 6 Sammamish Report 7 Bellevue Report 8 Bothell Report 9 Kirkland Report 10 Duvall Report 11 Carnation Report 12 Snoqualmie Report 13 North Bend Report 14 Issaquah Report 15 Fall City Report 16 Kenmore Report 17 Lake Forest Park 18 Mercer Island Report 19 Seattle Report 20 Maple Valley Report 21 Kent Report 22 Renton Report 23 Snohomish Report
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[ 3]
SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $900,000
2015
2016
Number of Sales
582
585
.50%
Total Dollar Volume (000’s)
$384,122
$445,381
15.90%
Average Sale Price
$660,000
$761,300
15.30%
Average Days on Market
39
28
-28.20%
Sold / List Price %
99.50%
%CHANGE
100.20%
0.70%
Average Price Per Square Foot 240.4
265.8
10.60%
Months of Inventory
1.5
1.4
-6.70%
Current Inventory in Units
48
48
2.10%
MARKETPLACESOTHEBYSREALTY.COM 425.243.9000
[ 4]
LISTING COURTESY OF NWMLS $2,368,000
CHART
10 YEAR PERFORMANCE OF WOODINVILLE HOMES
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Number of Sales
WOODINVILLE
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $849,000
SINGLE FAMILY HOMES
CHART
LISTING COURTESY OF NWMLS $1,370,000
Number of Sales
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $5,300,000
LISTING COURTESY OF NWMLS $1,495,000
REDMOND
2015
2016
%CHANGE
Number of Sales
1,183
1,108
6.30%
Total Dollar Volume (000’s)
833,866
$900,808
8.00%
Average Sale Price
$704,900
$813,000
15.30%
Average Days on Market
33
22
-33.30%
Sold / List Price %
100.50%
101.80%
1.30%
Average Price Per Square Foot $272.8
$315.5
15.70%
Months of Inventory
1.3
0.9
-30.80%
Current Inventory in Units
60
38
-36.70%
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[ 5]
SAMMAMISH REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $3,300,000
2015
2016
1,018
1,035
1.70%
Total Dollar Volume (000’s)
$ 823,650
$ 968,648
17.60%
Average Sale Price
$809,100
$935,900
15.70%
Average Days on Market
33
25
-24.20%
Sold / List Price %
99.90%
101.00%
1.10%
Average Price Per Square Foot $264.3
$301.8
14.20%
Months of Inventory
1.3
1.2
-7.70%
Current Inventory in Units
48
65
35.40%
MARKETPLACESOTHEBYSREALTY.COM
%CHANGE
Number of Sales
SAMMAMISH Number of Sales
LISTING COURTESY OF NWMLS $1,448,990
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $3,475,000
10 YEAR PERFORMANCE OF SAMMAMISH HOMES
425.243.9000
[ 6]
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BELLEVUE REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $2,600,000
Number of Sales
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $4,988,000
10 YEAR PERFORMANCE OF BELLEVUE HOMES
LISTING COURTESY OF NWMLS $2,688,000
BELLEVUE
2015
2016
%CHANGE
Number of Sales
1,456
1,501
3.10%
Total Dollar Volume (000’s)
$1,443,897
$1,646,710
14%
Average Sale Price
$991,700
1,097,100
10.60%
Average Days on Market
26
21
-19.20%
Sold / List Price %
100.10%
101.70%
1.6%
Average Price Per Square Foot $355.3
$392.6
10.50%
Months of Inventory
1.2
1.1
-8.30%
Current Inventory in Units
93
63
-32.30%
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[ 7]
BOTHELL REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $995,000
2015
2016
1,736
1,870
%CHANGE 7.70%
Total Dollar Volume (000’s)
$845,764
$1,022,931
20.90%
Average Sale Price
$487,200
$547,000
12.30%
Average Days on Market
45
23
-48.90%
Sold / List Price %
100.30%
101.60%
1.30%
Average Price Per Square Foot $208.3
230.9
10.80%
Months of Inventory
1.6.
.9
-43.80%
Current Inventory in Units
137
90
-34.30%
MARKETPLACESOTHEBYSREALTY.COM 425.243.9000
[ 8]
Number of Sales
BOTHELL Number of Sales
LISTING COURTESY OF NWMLS $2,795,000
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $1,625,000
10 YEAR PERFORMANCE OF BOTHELL HOMES
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KIRKLAND REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $1,750,000
Number of Sales
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $3,495,000
10 YEAR PERFORMANCE OF KIRKLAND HOMES
LISTING COURTESY OF NWMLS $749,000
KIRKLAND
2015
2016
%CHANGE
Number of Sales
1,176
1,296
10.20%
Total Dollar Volume (000’s)
$888,215
$1,121,945
26.30%
Average Sale Price
$755,300
$865,700
14.60%
Average Days on Market
30
25
-16.70%
Sold / List Price %
99.90%
101.40%
1%
Average Price Per Square Foot 319.3
$352.8
10.50%
Months of Inventory
1.5
1
-33.30%
Current Inventory in Units
87
48
-44.80%
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[ 9]
DUVALL REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $664,950
2015
2016
%CHANGE
238
235
-1.3%
Total Dollar Volume (000’s)
$111,445
$119,783
7.5%
Average Sale Price
$468,300
$509,700
8.8%
Average Days on Market
37
27
-27%
Sold / List Price %
99.50%
100.60%
1.1%
Average Price Per Square Foot $202.9
$225.1
10.9%
Months of Inventory
1.6
1.2
-25.00%
Current Inventory in Units
26
13
-50%
MARKETPLACESOTHEBYSREALTY.COM
Number of Sales
DUVALL Number of Sales
LISTING COURTESY OF NWMLS $460,000
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $950,000
10 YEAR PERFORMANCE OF DUVALL HOMES
425.243.9000
[ 10 ]
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CARNATION REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $950,000
Number of Sales
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $1,750,000
10 YEAR PERFORMANCE OF CARNATION HOMES
LISTING COURTESY OF NWMLS $1,095,000
CARNATION
2015
2016
%CHANGE
Number of Sales
121
164
35.5%
Total Dollar Volume (000’s)
$62,870
$93,466
48.7%
Average Sale Price
$519,600
$569,900
9.7%
Average Days on Market
66
43
-34.8%
Sold / List Price %
98.1%
99.7%
1.6%
Average Price Per Square Foot $211.7
$231.8
9.50%
Months of Inventory
2.6
2.2
-15.4%
Current Inventory in Units
22
24
9.1%
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[ 11 ]
SNOQUALMIE REPORT SINGLE FAMILY HOMES
SNOQUALMIE
2015
2016
%CHANGE
Number of Sales
432
333
-22.9%
Total Dollar Volume (000’s)
$237,052
$206,492
-12.9%
Average Sale Price
$548,700
$620,100
13%
Average Days on Market
36
15
-58.30%
Sold / List Price %
100.4%
100.8%
.40%
Average Price Per Square Foot $212.4
$238.9
12.5%
Months of Inventory
0.7
0.8
14.3%
Current Inventory in Units
4
6
50%
MARKETPLACESOTHEBYSREALTY.COM 425.243.9000
[ 12 ]
LISTING COURTESY OF NWMLS $869,762
Number of Sales
LISTING COURTESY OF NWMLS $1,499,500
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $2,00,000
10 YEAR PERFORMANCE OF SNOQUALMIE HOMES
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NORTH BEND REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $769,950
Number of Sales
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $9,900,000
10 YEAR PERFORMANCE OF NORTH BEND HOMES
LISTING COURTESY OF NWMLS $1,474,000
NORTH BEND
2015
2016
%CHANGE
Number of Sales
292
303
3.80%
Total Dollar Volume (000’s)
$141,937
$162,281
14.30%
Average Sale Price
$486,100
$535,600
10.20%
Average Days on Market
50
31
-38%
Sold / List Price %
99.50%
100.10%
-0.6%
Average Price Per Square Foot $219.3
$246.4
12.40%
Months of Inventory
2
1.2
-40%
Current Inventory in Units
40
15
-62.50%
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[ 13 ]
ISSAQUAH REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $1,050,000
2015
2016
773
775
.30%
Total Dollar Volume (000’s)
$523,179
$594,631
13.70%
Average Sale Price
$676,800
$767,300
13.40%
Average Days on Market
31
23
-25.80%
Sold / List Price %
100.3%
101.7%
1.4%
Average Price Per Square Foot $267.3
$292.6
Months of Inventory
1.2
1.5
-7.7%
Current Inventory in Units
49
39
-20.40%
MARKETPLACESOTHEBYSREALTY.COM
%CHANGE
9.5%
10 YEAR PERFORMANCE OF ISSAQUAH HOMES
425.243.9000
[ 14 ]
Number of Sales
ISSAQUAH Number of Sales
LISTING COURTESY OF NWMLS $825,000
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $1,825,000
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FALL CITY REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $1,749,999
Number of Sales
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $1,848,000
10 YEAR PERFORMANCE OF FALL CITY HOMES
LISTING COURTESY OF NWMLS $2,888,888
FALL CITY
2015
2016
%CHANGE
Number of Sales
73
81
11.00%
Total Dollar Volume (000’s)
$46,017
$53,937
17.2%
Average Sale Price
$630,400
$665,900
-8.4%
Average Days on Market
55
36
5.6%
Sold / List Price %
96.2%
99.1%
3%
Average Price Per Square Foot $240.8
$253.7
5.4%
Months of Inventory
2.9
2.2
-24.1%
Current Inventory in Units
10
7
-30%
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[ 15 ]
KENMORE REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $849,990
2015
2016
%CHANGE
Number of Sales
403
406
.70%
Total Dollar Volume (000’s)
$222,272
$248,320
11.7%
Average Sale Price
$551,500
$611,600
Average Days on Market
38
31
Sold / List Price %
99.90%
10.90% -18.40%
101.40%
1.50%
Average Price Per Square Foot $224.9
$250.2
11.2%
Months of Inventory
1.8
1
-44.40%
Current Inventory in Units
32
14
-56.30%
MARKETPLACESOTHEBYSREALTY.COM
10 YEAR PERFORMANCE OF KENMORE HOMES
425.243.9000
[ 16 ]
Number of Sales
KENMORE
LISTING COURTESY OF NWMLS $915,000
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $839,000
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LAKE FOREST PARK REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $799,950
Number of Sales
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $2,998,000
10 YEAR PERFORMANCE OF LAKE FOREST PARK HOMES
LISTING COURTESY OF NWMLS $949,950
LAKE FOREST PARK
2015
2016
%CHANGE
Number of Sales
212
234
10.40%
Total Dollar Volume (000’s)
$131,587
$140,907
7.1%
Average Sale Price
$620,700
$602,200
-3%
Average Days on Market
29
16
-44.8%
Sold / List Price %
99.10%
101.6%
2.5%
Average Price Per Square Foot $247.1
$255.8
3.50%
Months of Inventory
1.2
1.2
0%
Current Inventory in Units
12
10
-16.7%
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[ 17 ]
MERCER ISLAND REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $6,988,000
2015
2016
%CHANGE
Number of Sales
330
303
-8.2%
Total Dollar Volume (000’s)
$500,955
$497,567
-0.70%
Average Sale Price
$1,518,000
$1,642,100
8.2%
Average Days on Market
41
29
-29.3%
Sold / List Price %
98%
98.8%
.8%
Average Price Per Square Foot $447.2
$496.5
11%
Months of Inventory
1.8
2.3
27.8%
Current Inventory in Units
26
43
65.40%
MARKETPLACESOTHEBYSREALTY.COM
Number of Sales
MERCER ISLAND
LISTING COURTESY OF NWMLS $2,198,500
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $6,588,000
10 YEAR PERFORMANCE OF MERCER ISLAND HOMES
425.243.9000
[ 18 ]
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SEATTLE REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $2,495,000
Number of Sales
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $4,995,000
10 YEAR PERFORMANCE OF SEATTLE HOMES
LISTING COURTESY OF NWMLS $999,995
SEATTLE
2015
2016
Number of Sales
8,219
8,556
%CHANGE 4.1%
Total Dollar Volume (000’s)
$ 5,144,462
$6,017,960
17%
Average Sale Price
$625,900
$703,400
12.40%
Average Days on Market
23
19
-17.4%
Sold / List Price %
102.6%
102.9%
.3%
Average Price Per Square Foot $310.3
$353.4
13.9%
Months of Inventory
.9
0.9
0%
Current Inventory in Units
361
392
8.6%
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[ 19 ]
MAPLE VALLEY REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $545,000
2015
2016
725
769
6.1%
Total Dollar Volume (000’s)
$281,578
$335,707
19.2%
Average Sale Price
$388,400
$436,600
12.4%
Average Days on Market
33
26
-21.20%
Sold / List Price %
99.5%
100.2%
.70%
Average Price Per Square Foot $177
$195.4
10.4%
Months of Inventory
1.3
1.1
99.4%
Current Inventory in Units
48
44
-8.3%
MARKETPLACESOTHEBYSREALTY.COM
%CHANGE
10 YEAR PERFORMANCE OF MAPLE VALLEY HOMES
425.243.9000
[ 20 ]
Number of Sales
MAPLE VALLEY Number of Sales
LISTING COURTESY OF NWMLS $829,950
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $690,000
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KENT REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $1,025,000
Number of Sales
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $849,000
10 YEAR PERFORMANCE OF KENT HOMES
LISTING COURTESY OF NWMLS $1,195,000
KENT
2015
2016
Number of Sales
1,408
1,461
%CHANGE 3.8%
Total Dollar Volume (000’s)
$462,023
$535,600
15.9%
Average Sale Price
$328,100
$366,600
11.7%
Average Days on Market
48
33
-31.30%
Sold / List Price %
100%
100.4%
.40%
Average Price Per Square Foot $156
$175.4
12.4%
Months of Inventory
1.6
1.4
-12.50%
Current Inventory in Units
115
138
20%
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[ 21 ]
RENTON REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $899,950
2015
2016
1,907
1,889
-.9%
Total Dollar Volume (000’s)
$787,833
$892,681
13.30%
Average Sale Price
$413,100
$472,600
14.40%
Average Days on Market
40
30
-25%
Sold / List Price %
99.9%
100.90%
1%
Average Price Per Square Foot $188.9
$213.1
12.80%
Months of Inventory
1.5
1.3
-13.3%
Current Inventory in Units
155
131
-15.50%
MARKETPLACESOTHEBYSREALTY.COM
%CHANGE
Number of Sales
RENTON Number of Sales
LISTING COURTESY OF NWMLS $1,990,000
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $918,000
10 YEAR PERFORMANCE OF RENTON HOMES
425.243.9000
[ 22 ]
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SNOHOMISH REPORT SINGLE FAMILY HOMES
LISTING COURTESY OF NWMLS $1,349,000
Number of Sales
Total Dollar Volume Sold
LISTING COURTESY OF NWMLS $875,000
10 YEAR PERFORMANCE OF SNOHOMISH HOMES
LISTING COURTESY OF NWMLS $2,500,000
SNOHOMISH
2015
2016
%CHANGE
Number of Sales
1,168
1,326
13.5%
Total Dollar Volume (000’s)
$486,507
$628,743
29.20%
Average Sale Price
$416,500
$474,200
13.90%
Average Days on Market
51
42
-17.60%
Sold / List Price %
98.9%
99.5%
.60%
Average Price Per Square Foot $184.3
$204.6
11%
Months of Inventory
3.1
2.2
-29.00%
Current Inventory in Units
250
167
-33.2%
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[ 23 ]
Luxury
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