Eastside Market Review
Q4
Eastside real estate statistics for the fourth quarter of 2018
20 1 8 Q4 OV ERV I E W
A
cool-down in prices and a surge in inventory spelled out good news for buyers in the last quarter of 2018. The number of single-family homes and condos on
the market in December tripled as compared to a year ago on the Eastside. With an abundance of choices for buyers, homes here took longer to sell. However, well-priced homes still sold within weeks rather than days, which was the case earlier in the year. While the Eastside is still far short of the four to six months that are considered a balanced market, we are moving closer in that direction. As winter months traditionally bring slower sales and lower prices, we’ll be able to determine a more solid trend when the peak real estate season comes this spring.
2
[ Cover photo: listing #1253760 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 ]
3
Eastside (Areas 500-600) West Bellevue 26 Crescent Key
$2,895,000
5 Bed / 3.5 Bath / 4,180 SQFT MLS #: 1397821 Lot Size: 0.46 acres Year Built: 1969 Style: 1 Story with Basement Views: Territorial, Lake, Canal School District: Bellevue
Snoqualmie Ridge
7517 Snowberry Ave SE
$1,100,000
4 Bed / 3.5 Bath / 4,220 SQFT MLS #: 1375753 Lot Size: 8004 SQFT Year Built: 2005 Style: Tri-Level Views: Golf Course, Mountain, Territorial School District: Snoqualmie Valley
Downtown Issaquah 205 Newport Wy NW C1
$650,000
3 Bed / 2.5 Bath / 1,540 SQFT MLS #: 1374149 Lot Size: 3.08 acres Year Built: 1999 Style: Townhouse Views: None School District: Issaquah
4
20 1 8 Q4
Median Closed Sales Price > DECEMBER
$938,240
$908,762
$803,500
$639,350 $520,000 $530,000
2009
$460,000
$510,468
$675,000
$550,000
+2%
-13%
11%
+8%
+16%
+6%
+19%
+17%
-3%
2010
2011
2012
2013
2014
2015
2016
2017
2018
Months Supply of Inventory > DECEMBER
Closed Sales > DECEMBER
less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market
602 2.7
2.7
2018
10 year average
560 492
0.9
2017
2017
2018
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 South Lake Sammamish 4417 186th Ave SE
$2,098,990
5 Bed / 4.0 Bath / 4,146 SQFT MLS #: 1362836 Lot Size: 0.29 acres Year Built: 2018 Style: 2 Story Views: Territorial School District: Issaquah
Microsoft
16941 NE 19th Place
$754,990
4 Bed / 2.25 Bath / 1,900 SQFT MLS #: 1379277 Lot Size: 8426 SQFT Year Built: 1963 Style: Tri-Level Views: None School District: Bellevue
West Lake Sammamish 17508 NE 40th Place
$635,000
2 Bed / 1.75 Bath / 1,660 SQFT MLS #: 1376326 Year Built: 1975 Style: Condo 1-level Unit Views: Lake, Territorial School District: Lake Washington
6
20 1 8 Q4
Median Closed Sales Price > DECEMBER
$872,000
$839,000
$734,000 $581,250 $450,000
2009
$480,000
$625,000
$510,000
$437,500
$450,000
-3%
+3%
+7%
+6%
+14%
+8%
+17%
+19%
-4%
2010
2011
2012
2013
2014
2015
2016
2017
2018
Months Supply of Inventory > DECEMBER
Closed Sales > DECEMBER
less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market
2.1
1.9
49 38
36
2017
2018
0.6
2017
2018
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.
7
Bellevue / West of I-405 West Bellevue 9501 NE 1st St
$4,295,000
4 Bed / 4.0 Bath / 5,720 SQFT MLS #: 1399154 Lot Size: 0.28 acres Year Built: 2010 Style: Multi Level Views: Mountain, Lake School District: Bellevue
Enatai
3008 113th Ave SE
$2,098,000
5 Bed / 3.25 Bath / 3,629 SQFT MLS #: 1253760 Lot Size: 0.34 acres Year Built: 2016 Style: Tri-Level Views: Territorial School District: Bellevue
Bellevue
10000 Main St 404
$930,000
1 Bed / 1.5 Bath / 894 SQFT MLS #: 1310274 Year Built: 2010 Style: Condo/Townhouse Views: None School District: Bellevue
8
20 1 8 Q4
Median Closed Sales Price > DECEMBER
$2,800,000 $2,575,000 $2,125,000 $1,656,500 $1,300,000 $890,000 $675,000
2009
$1,413,593
$1,035,000 $805,000
+32%
-10%
+29%
+26%
+9%
+17%
+28%
+21%
+9%
2010
2011
2012
2013
2014
2015
2016
2017
2018
Months Supply of Inventory > DECEMBER
Closed Sales > DECEMBER
less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market
4.4 3.9
1.6
2017
33
2018
10 year average
2017
24
2018
28
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 Newcastle
6437 Ripley Lane SE
$3,650,000
4 Bed / 5.25 Bath / 6,840 SQFT MLS #: 1363737 Lot Size: 0.26 acres Year Built: 2003 Style: 2 Stories with Basement Views: Lake, Mountain, Territorial School District: Renton
Talus
2511 NW Alpine Crest Wy
$1,028,000
4 Bed / 3.25 Bath / 2,690 SQFT MLS #: 1387881 Lot Size: 2926 SQFT Year Built: 2012 Style: 2 Stories with Basement Views: Territorial, Mountain School District: Issaquah
Lake Boren
7549 129th Place SE C-103
$599,000
3 Bed / 2.5 Bath / 1,391 SQFT MLS #: 1388840 Lot Size: 4.77 acres Year Built: 2012 Style: Townhouse Views: Jetty, Golf Course School District: Issaquah
10
20 1 8 Q4
Median Closed Sales Price > DECEMBER $1,020,000 $938,500 $795,000
$574,500 $560,000
2009
$593,975 $512,500
$710,900
$730,000
$552,500
-3%
-8%
+16%
-7%
+29%
+3%
+9%
+28%
-8%
2010
2011
2012
2013
2014
2015
2016
2017
2018
Months Supply of Inventory > DECEMBER
Closed Sales > DECEMBER
less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market
83 2.3
68
2.5
53
0.8
2017
2018
10 year average
2017
2018
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.
11
East of Lake Sammamish / Issaquah Plateau
23725 SE 24th St
$1,689,000
4 Bed / 2.75 Bath / 4,700 SQFT MLS #: 1345624 Lot Size: 1.14 acres Year Built: 1999 Style: 2 Story Views: Territorial School District: Issaquah
Trossachs
920 274th Wy SE Sammamish
$1,000,000
4 Bed / 3.5 Bath / 3,200 SQFT MLS #: 1391158 Lot Size: 5000 SQFT Year Built: 2002 Style: 2 Story Views: None School District: Issaquah
Snoqualmie Ridge
35315 SE Aspen Lane 1001
$525,000
3 Bed / 2.5 Bath / 1,480 SQFT MLS #: 1396248 Lot Size: 3.63 acres Year Built: 2003 Style: Townhouse Views: Territorial, Mountain School District: Snoqualmie Valley
12
20 1 8 Q4
Median Closed Sales Price > DECEMBER
$840,000
$873,500
$840,000
$632,000 $649,000 $532,500
2009
$491,450
$448,500
$488,695
$535,265
-8%
-9%
+9%
+10%
+18%
+3%
+29%
+4%
-4%
2010
2011
2012
2013
2014
2015
2016
2017
2018
Months Supply of Inventory > DECEMBER
Closed Sales > DECEMBER
less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market
180
2.4
158
154
2018
10 year average
2.6
0.8
2017
2018
10 year average
2017
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 Houghton
10113 NE 63rd St
$3,148,800
4 Bed / 4.5 Bath / 4,183 SQFT MLS #: 1357819 Lot Size: 3629 SQFT Year Built: 2018 Style: 2 Stories with Basement Views: City, Lake, Mountain, Territorial School District: Lake Washington
Forbes Creek
11621 112th Ave NE
$1,300,000
4 Bed / 3.25 Bath / 3,183 SQFT MLS #: 1396813 Lot Size: 6864 SQFT Year Built: 2019 Style: 2 Story Views: None School District: Lake Washington
North Rose Hill
11210 Slater Ave NE 104
$589,000
3 Bed / 2.25 Bath / 1,329 SQFT MLS #: 1393448 Year Built: 1997 Style: Townhouse Views: Territorial School District: Lake Washington
14
20 1 8 Q4
Median Closed Sales Price > DECEMBER
$1,400,000 $1,268,888
$992,500 $830,000
$575,000 $600,000 $550,000
2009
$650,000
$714,500
$722,500
+4%
-8%
+18%
+10%
+1%
+15%
+20%
+28%
+10%
2010
2011
2012
2013
2014
2015
2016
2017
2018
Months Supply of Inventory > DECEMBER
Closed Sales > DECEMBER
less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market
4.1
2.7 51
45 28
1.0
2017
2018
10 year average
2017
2018
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 East Mercer
6430 E Mercer Wy
$6,980,000
4 Bed / 3.75 Bath / 5,577 SQFT MLS #: 1364728 Lot Size: 0.59 acres Year Built: 2006 Style: 2 Story Views: Lake, Mountain, Territorial School District: Mercer Island
North End
8414 SE 37th St
$2,787,000
5 Bed / 4.25 Bath / 4,370 SQFT MLS #: 1392574 Lot Size: 0.33 acres Year Built: 2016 Style: 2 Story Views: None School District: Mercer Island
East Seattle
2451 62nd Ave SE
$1,199,000
3 Bed / 1.75 Bath / 1,800 SQFT MLS #: 1376525 Lot Size: 9000 SQFT Year Built: 1955 Style: 1 Story with Basement Views: None School District: Mercer Island
16
20 1 8 Q4
Median Closed Sales Price > DECEMBER
$2,308,000
$1,625,000 $1,349,500 $1,151,250 $1,125,000 $995,000 $785,000
$876,000
2009
$893,500
$950,000
+12%
+14%
-10%
+6%
+21%
-2%
+20%
+20%
+42%
2010
2011
2012
2013
2014
2015
2016
2017
2018
Months Supply of Inventory > DECEMBER
Closed Sales > DECEMBER
less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market
4.3 3.9
1.6
33 18
2017
2018
10 year average
2017
2018
22
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 Union Hill
7707 260th Ave NE
$3,699,990
5 Bed / 4.5 Bath / 6,419 SQFT MLS #: 1367486 Lot Size: 5.75 acres Year Built: 2018 Style: 2 Story Views: Territorial School District: Lake Washington
Union Hill
23711 NE 64th Place
$850,000
3 Bed / 2.75 Bath / 2,488 SQFT MLS #: 1391794 Lot Size: 1.08 acres Year Built: 1982 Style: 2 Story Views: Territorial School District: Lake Washington
Ames Lake
3510 279th Ave NE
$500,000
3 Bed / 2.0 Bath / 1,630 SQFT MLS #: 1376876 Lot Size: 0.31 acres Year Built: 1977 Style: Split Entry Views: None School District: Snoqualmie Valley
18
20 1 8 Q4
Median Closed Sales Price > DECEMBER
$798,930
$797,500
$849,950
$695,500 $520,000 $520,000 $534,029
$607,500
$563,950
$460,000
2009
+13%
0%
+3%
+6%
+23%
-13%
+32%
0%
+7%
2010
2011
2012
2013
2014
2015
2016
2017
2018
Months Supply of Inventory > DECEMBER
Closed Sales > DECEMBER
less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market
2.5
2.9 60 50
43
0.9
2017
2018
10 year average
2017
2018
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.
19
Renton Highlands Coal Creek
5562 NE 17th St
$998,000
4 Bed / 2.75 Bath / 3,830 SQFT MLS #: 1395304 Lot Size: 7740 SQFT Year Built: 2007 Style: 2 Story Views: Territorial School District: Issaquah
Highlands
5406 NE 6th Ct
$749,950
4 Bed / 2.5 Bath / 2,633 SQFT MLS #: 1395637 Lot Size: 4367 SQFT Year Built: 2008 Style: 2 Story Views: Territorial School District: Issaquah
Briarwood
14612 182nd Ave SE
$459,950
4 Bed / 1.75 Bath / 2,040 SQFT MLS #: 1397432 Lot Size: 0.33 acres Year Built: 1962 Style: 1 Story with Basement Views: Territorial School District: Issaquah
20
20 1 8 Q4
Median Closed Sales Price > DECEMBER
$395,985
$429,950
$452,500
$557,000
$567,500
$474,750
$359,000 $309,000 $253,750
2009
$290,000
-14%
-18%
+14%
+37%
+9%
+5%
+5%
+17%
+2%
2010
2011
2012
2013
2014
2015
2016
2017
2018
Months Supply of Inventory > DECEMBER
Closed Sales > DECEMBER
less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market
70 2.4
64
2.3 46
1.0
2017
2018
10 year average
2017
2018
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 Hollywood Hill
15409 NE 153rd St
$2,195,000
4 Bed / 4.0 Bath / 5,311 SQFT MLS #: 1386586 Lot Size: 2.0 acres Year Built: 1989 Style: 2 Story Views: None School District: Northshore
Cottage Lake
15230 Mink Rd NE
$950,000
3 Bed / 2.5 Bath / 3,110 SQFT MLS #: 1396628 Lot Size: 1.59 acres Year Built: 2017 Style: 2 Story Views: Territorial School District: Northshore
Duvall
26625 NE Comegys St
$519,500
3 Bed / 2.25 Bath / 1,500 SQFT MLS #: 1387016 Lot Size: 9656 SQFT Year Built: 1989 Style: Tri-Level Views: Territorial School District: Riverview
22
20 1 8 Q4
Median Closed Sales Price > DECEMBER
$785,000
$817,500
$661,000 $548,500 $416,725
$435,000
$424,952
$474,000
$473,000
$339,950
2009
+4%
-22%
+25%
+12%
0%
+16%
+21%
+19%
+4%
2010
2011
2012
2013
2014
2015
2016
2017
2018
Months Supply of Inventory > DECEMBER
Closed Sales > DECEMBER
less than 3 months = seller’s market 3 -6 months = balanced market more than 6 months = buyer’s market
2.7
2.7
140
2018
10 year average
2017
132
128
2018
10 year average
0.9
2017
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.
23
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
RE/MAX
S ER
TH
Coldwell Banker
25%
A ll O
John L. Scott
REPRESENTING SELLERS
Keller Williams Redfin Corp Compass Washington Sotheby's International Realty All other companies with less
than 2% market share in buyers or sellers or both
3% 4%
4%
10%
8% 6%
6%
REPRESENTING BUYERS
10%
8% 2% 3% 5%
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
6%
7%
©2019 WINDERMERE SERVICES COMPANY. ALL RIGHTS RESERVED.
A l l OT
HER
S
19%
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.
26
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
Susan T. Jones Managing Broker, AB, RC
WORC 03/18 517
(425) 922-9990 mobile stjones@windermere.com Susantjones.com windermere.com