West Bellevue Market Review
Q3
Real estate statistics for the third quarter of 2015
2015 Q3 OV ER V I E W
488
homes sold in West Bellevue through the 3rd quarter of 2015. That number was not only a 32 percent increase over last year, it also surpassed the number of sales during the height of the real estate boom in 2007. Strong demand and tight inventory continue to propel home values upward. • Properties in good condition are selling quickly. A $3.7 million home on Yarrow Point sold in just four days after being listed. • New construction of high-end homes is bringing fresh luxury inventory to the area. • There continues to be strong competition from international buyers, particularly for the limited inventory of waterfront homes. Brokers estimate that Chinese nationals account for about 40 percent of luxury home sales on the Eastside.
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Bellevue: West of I-405.................................................................. 4 • Bellevue ............................................................................................... 6 • Clyde Hill ............................................................................................. 8 • Hunts Point ......................................................................................10 • Medina ................................................................................................12 • Yarrow Point ...................................................................................14 Market Share .......................................................................................16 Why Windermere..............................................................................18 Local Expertise, Global Connections ..............................20
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Bellevue / West of I-405
Higher Price Listing (75th percentile)
West Bellevue – Clyde Hill 9801 NE 24th Street
$2,388,000 4 Bed / 4.5 Bath / 5,820 SQFT MLS #: 843840 Lot Size: 0.38 acres Year Built: 1951 Style: 2 Story Views: Territorial School District: Bellevue
Median Price Listing
West Bellevue 10020 NE 22nd Street
$1,900,000 4 Bed / 3.25 Bath / 4,700 SQFT MLS #: 799949 Lot Size: 10,190 sq ft Year Built: 2007 Style: 1 Story with Basement Views: None School District: Bellevue
Lower Price Listing (25th percentile)
West Bellevue – Clyde Hill 9803 NE 30th Street
$1,380,000 3 Bed / 1.5 Bath / 2,350 SQFT MLS #: 837605 Lot Size: 9,348 sq ft Year Built: 1952 Style: 1 Story with Basement Views: City, Lake, Mountain
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School District: Bellevue
2015 Q3
Median Closed Sales Price > for year ended SEPTEMBER 30th $1,426,500
$1,390,000 $1,255,950
$1,492,500
$1,225,000
$1,110,000 $985,000
$1,000,000
$950,000 $870,000
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Number of Units Sold > for year ended SEPTEMBER 30th 488 421 377
2006
2007
210
214
2008
2009
341
349
2010
2011
361
357
2012
2013
370
2014
2015
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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Bellevue
Higher Price Listing (75th percentile)
Bellevue 9857 NE 27th Street
$2,298,000 4 Bed / 3.5 Bath / 4,170 SQFT MLS #: 829645 Lot Size: 8,505 sq ft Year Built: 2008 Style: 2 Story Views: none
Median Price Listing
Bellevue 9825 NE 32nd Street
$1,580,000 4 Bed / 2.5 Bath / 3,820 SQFT MLS #: 826429 Lot Size: 0.37 acres Year Built: 1975 Style: 1 Story with Basement Views: none
Lower Price Listing (25th percentile)
Bellevue 1735 112th Ave NE
$865,000 2 Bed / 1.75 Bath / 1,420 SQFT MLS #: 773307 Lot Size: 10,082 sq ft Year Built: 1980 Style: 1½ Story Views: Territorial
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2015 Q3
Median Closed Sales Price > for year ended SEPTEMBER 30th $1,150,000 $1,050,000
$1,000,000
$1,091,750
$944,000 $875,000
$825,000
$792,500
$785,000 $680,000
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
338
Number of Units Sold > for year ended SEPTEMBER 30th 250
245 216
2006
2007
144
141
2008
2009
2010
222
2011
237
230 212
2012
2013
2014
2015
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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Clyde Hill
Higher Price Listing (75th percentile)
Clyde Hill 1315 94th Avenue NE
$3,158,888 5 Bed / 4.5 Bath / 5,940 SQFT MLS #: 845464 Lot Size: 0.34 acres Year Built: 1999 Style: 2 Stories w/Basement Views: City, Lake, Mountain, Territorial
Median Price Listing
Clyde Hill 2514 88th Avenue NE
$2,050,000 6 Bed / 4.25 Bath / 4,250 SQFT MLS #: 826920 Lot Size: 0.45 acres Year Built: 1967 Style: 1 Story w/Basement Views: City, Lake, Mountain
Lower Price Listing (25th percentile)
Clyde Hill 9616 NE 27th Street
$1,200,000 3 Bed / 2.75 Bath / 2,560 SQFT MLS #: 854454 Lot Size: 10,125 sq ft Year Built: 1955 Style: Multi Level Views: Mountain, Lake, City
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2015 Q3
Median Closed Sales Price > for year ended SEPTEMBER 30th $1,907,500
$1,880,000 $1,749,000
$1,687,500 $1,463,750
$1,400,000
$1,445,000
$1,125,000
2006
2007
2008
2009
2010
$1,500,000
$1,225,000
2011
2012
2013
2014
2015
Number of Units Sold > for year ended SEPTEMBER 30th 69 61
57
55 49
56 49
42
30 22
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
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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Hunts Point
Higher Price Listing (75th percentile)
Hunts Point Waterfront 3113 Fairweather Place
$4,788,000 3 Bed / 3.75 Bath / 3,250 SQFT MLS #: 830921 Lot Size: 0.37 acres Year Built: 1998 Style: 1 Story Views: Bay, Canal, Lake
Median Price Listing
Hunts Point 3404 Hunts Point Road
$2,788,000 4 Bed / 3.0 Bath / 3,300 SQFT MLS #: 764646 Lot Size: 0.37 acres Year Built: 2011 Style: 2 Story Views: none
Lower Price Listing (25th percentile)
Hunts Point 3028 Hunts Point Circle
$2,498,000 5 Bed / 4.0 Bath / 3,760 SQFT MLS #: 796625 Lot Size: 0.28 acres Year Built: 2005 Style: 2 Story Views: none
2015 Q3
Median Closed Sales Price > for year ended SEPTEMBER 30th
$6,900,000 $6,725,000 $6,300,000 $5,450,000
$3,900,000
$2,500,000 $2,036,250 $1,241,500
$1,170,000 NO SALES
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Number of Units Sold > for year ended SEPTEMBER 30th
12 11 9
6
6
6 5 3
2006
2007
1
NO SALES
2008
2009
2010
2011
2012
2013
2014
2015
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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Medina
Higher Price Listing (75th percentile)
Medina 1229 Evergreen Point Road
$6,600,000 5 Bed / 5.0 Bath / 5,780 SQFT MLS #: 750841 Lot Size: 0.8 acres Year Built: 1993 Style: Multi Level Views: Mountain, Lake, City
Median Price Listing
Medina 7614 Overlake Drive W
$2,288,000 4 Bed / 3.25 Bath / 3,240 SQFT MLS #: 848466 Lot Size: 10,000 sq ft Year Built: 1969 Style: 2 Stories w/Basement Views: Territorial, Partial
Lower Price Listing (25th percentile)
Medina 8015 NE 28th Street
$ 845,000 2 Bed / 2.0 Bath / 1,100 SQFT MLS #: 842100 Lot Size: 9,382 sq ft Year Built: 1952 Style: 1 Story Views: Territorial
2015 Q3
Median Closed Sales Price > for year ended SEPTEMBER 30th $2,167,301 $1,950,000
$1,925,000 $1,750,000 $1,450,000 $1,501,000
$1,431,500 $1,297,500
2006
2007
2008
2009
$1,351,000 $1,340,000
2010
2011
2012
2013
2014
2015
Number of Units Sold > for year ended SEPTEMBER 30th 65
53
52
55
57
55
58
35 28
2006
2007
2008
30
2009
2010
2011
2012
2013
2014
2015
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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Yarrow Point
Higher Price Listing (75th percentile)
Yarrow Point 4680 95th Avenue NE
$6,590,000 (sold) 5 Bed / 4.25 Bath / 4,930 SQFT Lot Size: 0.39 acres Year Built: 1967 Style: 1½ Story Views: Bay, City, Lake, Mountain
Median Price Listing
Yarrow Point 3827 94th Avenue NE
$3,298,800 4 Bed / 4.75 Bath / 5,122 SQFT MLS #: 663162 Lot Size: 0.29 acres Year Built: 2015 Style: 2 Story Views: Lake
Lower Price Listing (25th percentile)
Yarrow Point 4228 91st Avenue NE
$2,099,950 4 Bed / 4.25 Bath / 5,483 SQFT MLS #: 823901 Lot Size: 0.41 acres Year Built: 1983 Style: Split Entry Views: none
2015 Q3
Median Closed Sales Price > for year ended SEPTEMBER 30th
$2,999,000
$2,112,500
$1,370,000
$1,205,000
2006
2007
$1,725,000
$1,600,000
$1,500,000
2008
2009
$1,576,000
$1,466,025
$1,140,000
2010
2011
2012
2013
2014
2015
20
20
2014
2015
Number of Units Sold > for year ended SEPTEMBER 30th
19
20
19
21
18
12
12 9
2006
2007
2008
2009
2010
2011
2012
2013
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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Market Share by Company 2014
Bellevue > WEST OF I-405 > by number of transactions
38%
Windermere
27% 20%
Coldwell Banker
12% 9% 9%
John L. Scott 5%
RE/MAX Keller Williams
7% 3% 2%
Sotheby’s 2% International Realty 2% Skyline
2% 7%
NWG Real Estate
1% 2%
Redfin
1% 2%
RSVP Real Estate
1% 3%
Companies not shown have less than 1% market share in buyers or sellers or both.
5%
10%
15%
20%
25%
30%
35%
40%
Representing Sellers Representing Buyers
Graphs were created by Windermere using NWMLS data, but information was not verified or published by NWMLS. Data reflects all new and resale single-family residences and condominiums sold from 1/1/2014–12/31/2014 in area 520.
2014 Market Share by Company
Bellevue > WEST OF I-405 > transactions over $3,000,000
66%
Windermere
39% 23%
Coldwell Banker Skyline RE/MAX
9% 2% 9% 2% 7%
NWG Real Estate
2% 2%
The Force Real Estate
2% 2%
Companies not shown have less than 1% market share in buyers or sellers or both.
5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 65%
Representing Sellers Representing Buyers
Graphs were created by Windermere using NWMLS data, but information was not verified or published by NWMLS. Data reflects all new and resale single-family residences and condominiums sold from 1/1/2014–12/31/2014 in area 520 with a sales price of $3,000,000 or more.
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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 a 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.
2014 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 2014. Acres of Diamonds Provides homeless women and children a safe haven and academic, relational and emotional mentoring.
Friends of Youth Provides the only teen shelter for homeless and atrisk youth on the Eastside. Shelter is in Redmond.
Assistance League of the Eastside Operation Scholl Bell provides new Back-To-School clothing for disadvantaged students on the Eastside.
Jubilee Reach Works to prevent homelessness among low income families with children in the Bellevue School District.
Attain Housing Transitioning homeless into stable, permanent housing.
Kindering Provides parent coaching at transitional housing sites.
Backpack Meals Provides weekend’s worth of food to low income students in the Bellevue School District.
LifeWire (formerly Eastside Domestic Violence) Provides emergency housing and support services for those fleeing abusive home situations.
Bellevue Boys and Girls Club Funds going to Project Learn — serving kids from 3 East Bellevue low-income housing developments.
Mamma’s Hands The House of Hope program supports three shelters for homeless women and children in crisis.
Bellevue Lifespring (formerly Overlake Service League) Provides meals to children on free and reduced cost lunch programs when school is not in session.
NW Arts Center Provides after school art-based alternatives for children.
Birthday Dreams Provides Birthday-In-A-Box to homeless children.
Royal Family Kids Camp Provides summer camp experiences for abused foster children.
CCS–Harrington House Provides housing and supportive services to homeless women who are pregnant or new parents.
Treehouse Helps to close the basic needs gap for 200 Eastside foster children.
Eastside Baby Corner Distributes basic need items for infants and children.
Valley Renewal Provides food, shelter and supplies to those in need in the Snoqualmie Valley.
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associates around the world, we expose your property to buyers on your property. In addition, we receive inbound clients from o interested in purchasing a home.
qualified clientele and wish to do business with similar Local Expertise, Global Connections, represent Powerful Marketing collectively responsible for over one million transactions on a glo
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When your home is posted to our website locally, it is immediate website. It is also immediately connected to the websites of over in the world.
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OVER 500 FIRMS n 3,500 OFFICES n 120,000 ASSOC OVER ONE MILLION TRANSACTIONS n $314 BILLI
® ®
OVER 500 FIRMS n 3,500 OFFICES n 120,000 ASSOCIATES n NEARLY 50 COUNTRIES OVER ONE MILLION TRANSACTIONS n $314 BILLION IN ANNUAL HOME SALES
WORC 05/14 #14146-4
® ®
OVER 500 FIRMS n 3,500 OFFICES n 120,000 ASSOCIATES n NEARLY 50 COUNTRIES OVER ONE MILLION TRANSACTIONS n $314 BILLION IN ANNUAL HOME SALES
WORC 05/14 #14146-4
windermere.com