The Condominium Report 2015 in review

The Condominium Report | 2015 In Review Condominium sales were dramatically affected by the lack of inventory in 2015. Active listings went from a peak of 16 in May down to only 4 active condominium listings in mid-December. With that in mind, it is surprising that sales were only down 11%. The median price, however, grew 11.2% ($372,500 versus $335,000) which surpassed the single family median increase. This was due primarily to sales between $400K-$500K increasing from 19 to 25 in 2015. (In both years, 86% of all sales were less than $500K.) If you are looking to buy a condominium on Bainbridge Island this year, please use this report as your field guide to the many different options available to you and how much you’ll likely spend in any given community.

If you are curious as to what this report means to your investment and how your Condominium would fare in today’s market, please call me. I am well versed in the Condominium Market of Bainbridge Island and I would be happy to show you more comprehensive statistics of condominium sales and provide you with a thorough Market Analysis, specific to your home.

Building

Bedrooms/Baths Days on Market

Sale Date

Sale Price

Blue Heron 2/1.5 6 6/26/2015 199,500 Blue Heron Condominiums are a multitude of single family four-plex design built in 1979 and located on Blue Heron Avenue NE.

Cave Avenue 2/1.75 1 2/20/2015 249,500 Cave Avenue 2/1.75 13 7/7/2015 287,200 Cave Avenue Condominiums is a smaller building of five homes built in 1978 and located on Cave Avenue, near the Ferry Terminal.

Chatham Cove 2/2.5 6 3/30/2015 305,000 Built in 1994, Chatham Cove Condominiums are located on Weaver Road and features 35 residences of Townhomes and Flats, centered around landscaped courtyards.

Eagle Harbor 2/1.75 11 4/30/2015 410,000 Eagle Harbor 2/1.75 3 5/4/2015 460,000 Eagle Harbor 2/1.75 7 10/30/2015 615,000 Eagle Harbor 3/2 107 12/18/2015 520,000 Eagle Harbor Condominiums is located next to the Ferry Terminal, on Harborview Drive SE. It has 56 homes, built 1979 - 1982 and has water views and a swimming pool.

Ericksen Townhouses 2/2.5 26 5/1/2015 485,000 Small community of 6 townhomes built in 2008, located in the Downtown Winslow core on Ericksen Avenue between Winslow Way E. and Wyatt Avenue.

Jackie Syvertsen | Managing Broker | Windermere Real Estate/BI, Inc. | 206-790-3600 | www. Jackie98110.com

Building

Bedrooms/Baths Days on Market

Sale Date

Sale Price

Grow Village 2/1.75 7 6/26/2015 361,500 Grow Village Phase 1 of 3, 6 Townhomes built in 1993. Located on Grow Avenue NW between Shepard Way and Winslow Way W.

Harbourside 3/2.5 166 2/19/2015 1,075,000 Harbourside 3/2 75 6/19/2015 595,000 Harbourside 2/1.75 8 7/15/2015 615,000 20 homes built 1996 - 1998, many with water views, located in the Marina District of Downtown Winslow.

Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square Harbor Square

2/1.75 2/2 1/1.5 1/1 2/2 2/2 2/2 2/1.75 2/2 1/1 2/2.5 1/1.5 1/1.5 2/1.75 2/2 1/1 2/1.75 2/2 1/1.5 2/1.75 1/1.5

29 7 314 10 330 8 73 93 457 2 12 25 36 79 19 88 100 274 5 14 5

1/22/2015 2/18/2015 3/2/2015 3/17/2015 5/7/2015 5/8/2015 5/20/2015 7/12/2015 7/17/2015 7/24/2015 7/31/2015 8/3/2015 8/25/2015 8/27/2015 9/10/2015 9/25/2015 10/1/2015 10/30/2015 11/11/2015 12/17/2015 12/23/2015

350,000 465,000 275,000 255,000 445,000 472,000 455,000 444,000 422,700 325,700 460,000 299,000 312,250 440,000 440,000 245,000 395,000 439,500 299,000 715,000 375,000

Harbor Square is a Mixed Use Condominium with 180 homes, including Flats and Townhomes. Built in 2006 and located on Winslow Way, directly across the street from the Ferry Terminal.

Island Crossings 2/1 4 2/20/2015 211,000 Island Crossings 1/1 103 2/22/2015 158,000 Island Crossings 1/1 42 4/21/2015 155,000 Island Crossings 1/1 5 5/29/2015 185,000 Island Crossings 2/1 5 6/29/2015 221,000 Island Crossings 1/1 4 12/7/2015 181,000 Island Crossings is a Mixed Use Condominium with 60 homes. Built in 2006, it is located on High School Road across the street from the Safeway shopping center.

Island Dawn 3/2.75 7 12/11/2015 605,000 Island Dawn 3/2.75 5 4/21/2015 525,000 Located on Shanti Lane off of High School Road, this collection of Condominium homes has 18 residences and was built in 2004

Building

Bedrooms/Baths Days on Market

Sale Date

Sale Price

Madison Square 2/1.75 9 4/7/2015 485,000 Located on North Madison behind Windermere Real Estate, Madison Square has 8 homes and was built in 2005.

Madrone Village 3/1.75 75 9/12/2015 389,000 Madrone Village 2/2 46 8/28/2015 435,000 Madrone Village 2/1.5 32 6/25/2015 329,900 Madrone Village 2/2 4 1/23/2015 379,000 Madrone Village is a Mixed Use Condominium with 38 homes including Flats and Townhomes. Built in 2006 and located on Hall Brothers Loop NW, off Winslow Way. Meridian 3/1.75 10 1/9/2015 399,000 Meridian 2/2.5 9 1/31/2015 389,000 Meridian 3/1.75 2 2/4/2015 435,000 Meridian 2/2.5 44 3/19/2015 370,000 Meridian 2/2.5 9 4/30/2015 429,000 Built in 2006, The Meridian is a Mixed Use building with 23 single level homes, located on Knechtel Way between Madison Ave N and Ericksen Ave. Moorings Wharf 1/1 38 7/31/2015 360,000 A unique Condominium located on Parfitt Way SW in the Marina District of Downtown Winslow, Moorings Wharf has only 4 residences and was built in 2001.

Olympian Olympian Olympian Olympian Olympian Olympian

1/1 2/1.75 2/2 2/1.75 2/1.75 2/1.75

30 133 4 4 6 7

5/2/2015 6/19/2015 9/10/2015 10/22/2015 12/5/2015 12/16/2015

190,000 144,375 238,000 275,000 268,000 325,000

Located on Grow Avenue NW, The Olympian has 33 homes and was built in 1975.

Place 18 2/2.5 7 4/10/2015 596,500 Place 18 on Eagle Harbor Drive was built in 1980 and has 18 Townhomes featuring water views and a large common space abutting a waterfront nature preserve.

Seabreeze 2/2 Off Market 4/30/2015 490,000 Seabreeze 1/1 20 5/27/2015 305,000 Seabreeze 3/2.5 53 8/31/2015 1,173,500 Seabreeze 3/2.5 2 9/28/2015 1,325,000 Seabreeze 1/1 7 11/11/2015 325,000 Seabreeze is located on the corner of Bjune and Madison Avenue South. It is a Mixed Use Condominium with 11 boutique residences and was built in 2007.

Jackie Syvertsen | Managing Broker | Windermere Real Estate/BI, Inc. | 206-790-3600 | www. Jackie98110.com

Building Sakai Village Sakai Village

Bedrooms/Baths Days on Market 3/2.5 2/2

3 70

Sale Date

Sale Price

3/31/2015 6/19/2015

396,000 420,000

Sakai Village is located on Madison Avenue North and has 41 homes built in 2002.

Stonecress 2/2.5 23 4/1/2015 335,000 Stonecress 2/2.5 12 4/2/2015 325,000 Stonecress 2/2.5 20 4/7/2015 325,000 Stonecress 3/2.5 0 4/21/2015 313,500 Stonecress 3/2.5 5 5/29/2015 405,000 Stonecress 2/2.5 56 7/6/2015 345,000 Stonecress 2/2.5 27 9/9/2015 335,000 Built in 2003, Stonecress is a community of 45 townhomes off of High School Road.

Sun Day Cove III 2/1.75 7 5/28/2015 1,055,000 Sun Day Cove is located on Lovell Avenue SW, at the western end of Winslow Way W. There are three phases to this waterfront community with a total of 22 residences that features a deep-water dock with assigned dock slips.

The Winslow 2/2 2 6/23/2015 499,500 Located just a few blocks from the Ferry terminal at 400 Winslow Way E, The Winslow is a Mixed Use Condominium with 9 residences and was built in 2004.

Tillicum

2/1

5

6/12/2015

164,500

Located on Winslow Way E, right around the corner from the Ferry, the Tillicum was built in 1959 and has 29 residences.

Vineyard Lane 2/1.75 3 5/30/2015 440,000 Built GREENŠ in 2006, Vineyard Lane is located on Highway 305 and has 46 homes with a combination of Flats and Townhomes.

Winslow Mews Winslow Mews

3/2.75 3/3

5 6

3/4/2015 10/14/2015

442,500 482,000

Built in 1998, Winslow Mews is a community of 22 Townhomes located on Wyatt Way NE, between Ericksen and Madison Ave N.

Winslow Park 2/1.5 4 3/17/2015 250,000 Winslow Park 3/1.5 5 9/1/2015 273,000 Winslow Park 2/1.5 108 9/14/2015 257,000 Located on Shepard Way NW, Winslow Park was built in 1978. It has 38 Townhomes and an outdoor swimming pool.