Eastside Quarterly Market Review - Q1 - Bo Lundgren

Eastside Market Review

Q1

Eastside real estate statistics for the first quarter of 2019

20 1 9 Q1 OV ERV I E W

T

he spring home buying season started early this year.

Open houses had increased attendance and bidding wars returned in March. Home prices in most of the

region are about even with March of 2018. The Eastside median closed sales price decreased 1% from March 2018 ($831,000) to March 2019 ($825,000). Months supply of inventory decreased from 1.8 in February 2019 to 1.2 in March 2019, it’s lowest in nine months. The number of Eastside sales increased 2% for the first quarter 2019 compared to 2018.

The speed of the market (percentage of homes sold in two weeks or less, number of multiple offers) is slower than a year ago (arguably a good thing), although it is speeding up.

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[ Cover photo: listing #1409741 on page 8 ]

• 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 ]

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Eastside (Areas 500-600) Newport Shores 17 Crescent Key

$5,498,800

5 Bed / 3.75 Bath / 5,803 SQFT MLS #: 1411456 Lot Size: 0.43 acres Year Built: 2019 Style: 2 Story Views: Territorial, Lake, Canal School District: Bellevue

Trossachs

27134 SE 13th Street

$1,148,800

4 Bed / 4 Bath / 3,240 SQFT MLS #: 1427984 Lot Size: 5542 SQFT Year Built: 2013 Style: 2 Story Views: Territorial School District: Issaquah

Downtown Woodinville 14725 NE 177th St

$695,000

4 Bed / 2.25 Bath / 1,930 SQFT MLS #: 1429716 Lot Size: 9000 SQFT Year Built: 1979 Style: Tri-Level Views: Territorial School District: Northshore

4

20 1 9 Q1

Median Closed Sales Price > MARCH

$870,000

$926,000

$950,000

$739,440

$495,000

2010

$497,150

$552,415

$599,950

$632,554

$470,000

0%

-5%

+18%

+9%

+5%

+17%

+18%

+6%

+3%

2011

2012

2013

2014

2015

2016

2017

2018

2019

Months Supply of Inventory > MARCH

Closed Sales > MARCH

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

1.4

557

537

551

2018

2019

10 year average

1.6

0.7

2018

2019

10 year average

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

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.

5

Bellevue / East of I-405 West Lake Sammamish

2208 W Lake Sammamish Pkwy NE

$2,450,000

4 Bed / 4.5 Bath / 5,660 SQFT MLS #: 1419179 Lot Size: 9259 SQFT Year Built: 2003 Style: Multi Level Views: Territorial, Mountain, Lake School District: Bellevue

West Lake Sammamish 4007 177th Ave SE

$1,298,000

4 Bed / 2.25 Bath / 3,036 SQFT MLS #: 1433349 Lot Size: 5000 SQFT Year Built: 1974 Style: 1 Story with Basement Views: Territorial, Mountain, Lake School District: Issaquah

Bellevue

15206 NE 8th St E10

$525,000

3 Bed / 1.75 Bath / 1,177 SQFT MLS #: 1434100 Year Built: 1973 Style: Condo Views: none School District: Bellevue

6

20 1 9 Q1

Median Closed Sales Price > MARCH

$921,500

$927,000

$830,000 $745,000

$478,500

$523,500 $506,000

$475,000

$554,500

$409,400

2010

-1%

-14%

+28%

-3%

+10%

+34%

+11%

+11%

+1%

2011

2012

2013

2014

2015

2016

2017

2018

2019

Months Supply of Inventory > MARCH

Closed Sales > MARCH

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

65 51

0.8

1.0

34

0.4 2018

2019

10 year average

2018

2019

10 year average

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

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.

7

Bellevue / West of I-405 Medina

2237 Evergreen Point Rd

$9,250,000

5 Bed / 4.25 Bath / 5,485 SQFT MLS #: 1409741 Lot Size: 0.78 acres Year Built: 2000 Style: 2 Stories with Basement Views: Territorial, Mountain, Lake, City School District: Bellevue

Yarrow Point

9218 NE 38th St

$2,998,000

5 Bed / 4.75 Bath / 4,336 SQFT MLS #: 1426441 Lot Size: 6003 SQFT Year Built: 2018 Style: 2 Stories with Basement Views: Territorial, City School District: Bellevue

Meydenbauer

10101 SE 3rd St 104

$665,000

2 Bed / 1.75 Bath / 1,260 SQFT MLS #: 1430152 Year Built: 1978 Style: Condo Views: None School District: Bellevue

8

20 1 9 Q1

Median Closed Sales Price > MARCH

$2,505,000

$2,586,183

$2,198,000 $1,782,500 $1,799,975

$1,262,500 $1,221,000 $940,000

$1,025,000

$706,500

2010

+33%

+9%

+23%

-3%

+46%

+1%

+22%

+14%

+3%

2011

2012

2013

2014

2015

2016

2017

2018

2019

Months Supply of Inventory > MARCH

Closed Sales > MARCH

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

2.4 1.7

2018

2.0

2019

10 year average

27

29

32

2018

2019

10 year average

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

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.

9

Eastside / South of I-90 Bellevue

5247 145th Place SE

$1,975,000

5 Bed / 4.5 Bath / 4,730 SQFT MLS #: 1418449 Lot Size: 0.94 acres Year Built: 2000 Style: 2 Stories with Basement Views: None School District: Bellevue

Kennydale

1222 N 42nd Place

$1,175,000

3 Bed / 2.5 Bath / 2,650 SQFT MLS #: 1420080 Lot Size: 3834 SQFT Year Built: 2011 Style: 2 Story Views: Territorial School District: Renton

Downtown Issaquah 760 5th Ave NW #4

$699,900

3 Bed / 3.25 Bath / 1,774 SQFT MLS #: 1418765 Lot Size: 1098 SQFT Year Built: 2019 Style: Townhouse Views: Territorial School District: Issaquah

10

20 1 9 Q1

Median Closed Sales Price > MARCH $1,000,000 $930,000

$890,312

$723,000 $736,500 $565,000

2010

$515,000

$562,500 $560,000

$599,975

-9%

+9%

0%

+7%

+21%

+2%

+26%

+8%

-11%

2011

2012

2013

2014

2015

2016

2017

2018

2019

Months Supply of Inventory > MARCH

Closed Sales > MARCH

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

1.4

1.5

2019

10 year average

67

70

72

2018

2019

10 year average

0.6

2018

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

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.

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East of Lake Sammamish / Issaquah Aldarra

2072 298th Crescent SE

$1,950,000

4 Bed / 3.25 Bath / 4,810 SQFT MLS #: 1422105 Lot Size: 2.99 acres Year Built: 2014 Style: 2 Story Views: Territorial, Mountain School District: Snoqualmie Valley

Trossachs

1926 263rd Ct SE

$1,050,000

4 Bed / 4.25 Bath / 3,210 SQFT MLS #: 1433640 Lot Size: 6493 SQFT Year Built: 2005 Style: 2 Story Views: None School District: Issaquah

Preston

31017 SE 85th Place

$650,000

2 Bed / 2.0 Bath / 1,515 SQFT MLS #: 1431371 Lot Size: 0.28 acres Year Built: 1909 Style: 2 Story Views: Territorial, River, Partial School District: Issaquah

12

20 1 9 Q1

Median Closed Sales Price > MARCH

$850,633

$899,000 $905,000

$712,500

$488,000

$509,990

2010

$479,900

$525,000

$577,216

$592,587

+5%

-6%

+9%

+10%

+3%

+20%

+19%

+6%

+1%

2011

2012

2013

2014

2015

2016

2017

2018

2019

Months Supply of Inventory > MARCH

Closed Sales > MARCH

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

171 145 125

1.3

1.5

0.5 2018

2019

10 year average

2018

2019

10 year average

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

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.

13

Kirkland / Bridle Trails Highlands

11506 NE 94th St 3

$2,319,950

5 Bed / 4.25 Bath / 4,070 SQFT MLS #: 1416260 Lot Size: 8960 SQFT Year Built: 2019 Style: 2 Story Views: None School District: Lake Washington

Rose Hill

13120 NE 112th St

$1,499,950

5 Bed / 3.5 Bath / 3,002 SQFT MLS #: 1415290 Lot Size: 7200 SQFT Year Built: 2019 Style: 2 Story Views: None School District: Lake Washington

North Rose Hill

10902 Slater Ave NE 8-27

$650,000

2 Bed / 2.5 Bath / 1,462 SQFT MLS #: 1422253 Year Built: 2005 Style: Townhouse Views: Territorial School District: Lake Washington

14

20 1 9 Q1 $1,451,000

Median Closed Sales Price > MARCH

$1,376,000

$1,050,000 $891,450 $749,000 $649,500 $557,000

$546,000

$600,000

$465,000

2010

-2%

-15%

+49%

-14%

+25%

+19%

+18%

+31%

+5%

2011

2012

2013

2014

2015

2016

2017

2018

2019

Months Supply of Inventory > MARCH

Closed Sales > MARCH

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

53 1.5

1.7

43

42

10 year average

2018

2019

0.7

2018

2019

10 year average

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

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.

15

Mercer Island North End

9980 SE 38th St

$4,350,000

5 Bed / 5 Bath / 4,840 SQFT MLS #: 1389234 Lot Size: 0.31 acres Year Built: 2018 Style: 2 Story Views: Lake, Mountain School District: Mercer Island

North End

3020 90th Place SE

$2,450,000

5 Bed / 4.5 Bath / 4,480 SQFT MLS #: 1408512 Lot Size: 9631 SQFT Year Built: 2006 Style: 2 Stories with Basement Views: Lake, Partial School District: Mercer Island

South End

8454 SE 63rd St

$1,425,000

4 Bed / 2.25 Bath / 2,390 SQFT MLS #: 1433771 Lot Size: 0.27 acres Year Built: 1963 Style: 1 Story Views: Territorial School District: Mercer Island

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20 1 9 Q1

Median Closed Sales Price > MARCH

$1,725,000 $1,590,000

$1,573,724 $1,587,500

$1,110,000 $1,100,000

$800,000

2010

$819,000

$869,000

$710,000

-11%

+15%

+6%

+28%

-1%

+45%

+8%

-9%

+1%

2011

2012

2013

2014

2015

2016

2017

2018

2019

Months Supply of Inventory > MARCH

Closed Sales > MARCH

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

3.5

2.3 1.3

2018

28

2019

10 year average

2018

24

24

2019

10 year average

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

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.

17

Redmond / Carnation Blakely Woods

1345 289th Ave NE

$1,760,000

4 Bed / 4.25 Bath / 5,010 SQFT MLS #: 1433865 Lot Size: 3.78 acres Year Built: 2008 Style: 2 Story Views: Territorial School District: Snoqualmie Valley

Hunters Glen

21648 NE 67th St

$1,250,000

4 Bed / 2.5 Bath / 3,250 SQFT MLS #: 1402935 Lot Size: 1.45 acres Year Built: 1988 Style: 2 Story Views: Territorial School District: Lake Washington

Avondale

9716 178th Place NE 203

$474,900

2 Bed / 1.75 Bath / 1,019 SQFT MLS #: 1426776 Lot Size: n/a Year Built: 1977 Style: Condo Views: Territorial School District: Lake Washington

18

20 1 9 Q1

Median Closed Sales Price > MARCH

$815,000

$870,000 $794,564

$652,500 $549,975 $480,000 $415,500

2010

$589,000 $590,000

$460,000

-13%

+11%

+20%

+7%

0%

+11%

+25%

-3%

+9%

2011

2012

2013

2014

2015

2016

2017

2018

2019

Months Supply of Inventory > MARCH

Closed Sales > MARCH

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

1.3

1.6

42

43

10 year average

2018

2019

50

0.6

2018

2019

10 year average

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

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.

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Renton Highlands Spring Lake

17532 190th Ave SE

$1,185,000

4 Bed / 2.75 Bath / 3,421 SQFT MLS #: 1409801 Lot Size: 1.56 acres Year Built: 2019 Style: 2 Story Views: Territorial School District: Tahoma

Maplewood

6007 NE 1st St

$699,900

4 Bed / 2.5 Bath / 2,621 SQFT MLS #: 1415378 Lot Size: 6000 SQFT Year Built: 2003 Style: 2 Story Views: Nonn School District: Renton

Renton

3424 NE 7th Place

$430,000

3 Bed / 1.75 Bath / 1,460 SQFT MLS #: 1417647 Lot Size: 7547 SQFT Year Built: 1952 Style: 1 Story Views: Territorial School District: Renton

20

20 1 9 Q1

Median Closed Sales Price > MARCH $593,750 $548,500

$407,000

$412,500

$502,500

$491,500

$426,475

$322,437 $268,975

2010

$282,500

-17%

+5%

+44%

+1%

+3%

+18%

-2%

+12%

+8%

2011

2012

2013

2014

2015

2016

2017

2018

2019

Months Supply of Inventory > MARCH

Closed Sales > MARCH

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

69

1.5

56

59

2018

2019

1.3

0.7

2018

2019

10 year average

10 year average

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

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.

21

Woodinville / Juanita / Duvall Tuscany

12450 203rd Ave NE

$1,939,000

4 Bed / 4.25 Bath / 6,930 SQFT MLS #: 1417374 Lot Size: 0.83 acres Year Built: 1996 Style: 2 Stories with Basement Views: Territorial School District: Lake Washington

Finn Hill

14340 93rd Ave NE

$950,000

5 Bed / 3 Bath / 2,730 SQFT MLS #: 1426179 Lot Size: 7920 SQFT Year Built: 1979 Style: Split Entry Views: Territorial, Mountain School District: Lake Washington

Cottage Lake

19330 NE 172nd St

$549,950

3 Bed / 1 Bath / 1,350 SQFT MLS #: 1391422 Lot Size: 10044 SQFT Year Built: 1970 Style: 1 Story Views: None School District: Northshore

22

20 1 9 Q1

Median Closed Sales Price > MARCH

$800,000

$814,037

$692,475 $590,000

$400,625

$425,000

2010

$376,000

$514,995

$494,250

$425,000

+6%

-12%

+13%

+21%

-4%

+19%

+17%

+16%

+2%

2011

2012

2013

2014

2015

2016

2017

2018

2019

Months Supply of Inventory > MARCH

Closed Sales > MARCH

less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market

145

1.3

139

124

1.5

0.7

2018

2019

10 year average

2018

2019

10 year average

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

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.

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By Transactions

2018 Market Share EASTSIDE: Areas 500–600 Bellevue, Bothell, Duvall, Issaquah, Kenmore, Kirkland, Mercer Island, Newcastle, North Bend, Redmond, Sammamish, Snoqualmie, Woodinville, and surrounding neighborhoods.

KEY  Windermere Real Estate

25%

 RE/MAX

OT H

 Coldwell Banker

ER

 John L. Scott

REPRESENTING SELLERS

 Keller Williams  Redfin Corp  Compass Washington  Sotheby's International Realty  All other companies with less

10% 3%

than 2% market share in buyers or sellers or both

4%

4%

8% 6%

6%

OT H E

R

19%

10%

8% 2%

5%

6%

7%

Graphs were created by Windermere using NWMLS data and TrendGraphix, but information was not verified or published by NWMLS. Data reflects all new and resale single-family residences and condominiums sold from 1/1/2018–12/31/2018 in areas 500, 510, 520, 530, 540, 550, 560, 600.

MSG-BRW1-2019

24

3%

©2019 WINDERMERE SERVICES COMPANY. ALL RIGHTS RESERVED.

REPRESENTING BUYERS

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.

Windermere

81%

Coldwell Banker

71%

John L. Scott

64%

RE/MAX

54%

Sotheby’s International Realty

48%

Keller Williams

45%

Lake & Company

43%

Berkshire Hathaway

34%

Gerrard Beattie & Knapp

27%

Redfin

16%

The Cascade Team

9%

The Force Real Estate

9%

RSVP Real Estate

9%

10%

20%

30%

40%

50%

60%

70%

80%

90%

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

25

2018 Donation Grantees List Eastside Windermere Foundation A Brighter Future Because of You! 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 2017.

Acres of Diamonds Provides women and children transitional housing and support programs to rebuild lives from domestic abuse and/or substance abuse.

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

Attain Housing Transitioning homeless families with children into stable, permanent housing.

Escape to Peace Creates awareness of sex trafficking of Eastside minors and helps fund a healing center.

LifeWire Provides emergency housing and support services for those fleeing abusive home situations.

Friends of Youth Funds emergency response and shelter, then long-term placement to children experiencing trauma or abuse in east King County.

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

Hopelink Supports the Pantry Pack Program which provides lunches to povertylevel children.

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

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

Bellevue Lifespring Provides meals to children on free and reduced cost lunch programs when school is not in session.

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

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

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

Issaquah Food Bank Helps maintain a refrigerated box truck utilized as a mobile food bank to remote Eastside communities that have difficulty accessing food bank services.

Village Theatre Supports outreach to the youth of low-income families so they can have access to theater and arts education, regardless of their ability to pay.

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

Provides parent coaching at transitional housing sites.

Eastside Baby Corner Distributes basic need items for infants and children.

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Pantry Packs Supports Lake Washington Schools Foundation’s program that provides weekend, childfriendly food packs to children of qualified low-income families.

Royal Family Kids Camp Provides summer camp experiences for abused foster children.

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

DIGITAL STRATEGY

Targeting buyers for your home

Whether reaching overseas buyers or local agents, I’m committed to promoting your home using digital platforms that go beyond the usual real estate websites.

Buyer-targeted advertising

Broker-to-broker e-marketing

Through a partnership with Adwerx, I will promote your home to local buyers on high-traffic websites such as Facebook, CNN, ESPN and USA Today, reaching 7000+ local buyers each week.

My office will promote your listing to the top buyer’s agents in your area via our Windermere This Week email. With high open and click-through rates, these campaigns generate lots of interest and action.

Overseas buyer reach

Social media sharing

Windermere’s partnership with Waijule.com lets me promote your property online to Chinese buyers, an important segment of our international market, in their language and behind China’s internet firewall. In King County alone over 400 brokers interface with their Chinese clients through the Waijule platform.

Once listed, your home will be featured on my office’s Facebook page and other social media platforms. This makes it easy for you to share posts with your friends and family (according to the National Association of Realtors®, one in 12 buyers learned of the property they bought from the seller, a friend, relative or neighbor).

Windermere This Week ©2018 WINDERMERE SERVICES COMPANY. ALL RIGHTS RESERVED.

Social media

27

Local Expertise, Global Connections

Powerful Marketing 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.

When selling your home, you need worldwide exposure in addition to the strong marketing expertise we deliver locally. As an affiliate of the Leading Real Estate Companies of the World® global network, we have the resources to market your property to the highest possible number of potential buyers. With 130,000 talented associates around the world, we expose your property to buyers on six continents and 65 countries and receive referrals to international buyers looking to buy in our area.

This powerful network makes over 100 client introductions a day all over the globe, and just had a 50 percent annual increase in cross-border transactions, resulting in $368 billion in sales for 2016.

©2018 WINDERMERE SERVICES COMPANY. ALL RIGHTS RESERVED.

Leading Real Estate Companies of the World® is ranked as having the number one market share in 44 percent of the top 121 U.S. markets.

Each year our network is collectively responsible for over one million transactions on a global basis. When your home is listed on Windermere.com, it is immediately promoted on the LeadingRE.com website and the websites of over 550 of our affiliated real estate firms around the world.

65 COUNTRIES 565 FIRMS 4,100 OFFICES 130,000 ASSOCIATES 1.1 MILLION TRANSACTIONS $368 BILLION IN SALES

Bo Lundgren Realtor®, Broker

WORC 03/18 517

(206) 790-2650mobile rlundgren@windermere.com rlundgren.withwre.com windermere.com