WbyWindermere.com
WOODWAY | $16,700,000
DEAR READERS, Welcome to our annual W Collection luxury real estate review. Inside you will find notable luxury sales from the past year, current W Collection listings, and the brokers who represent these properties with unmatched professionalism and expertise. There’s also a 2022 forecast snapshot from Windermere’s Chief Economist, Matthew Gardner. Windermere has a long tradition of being the Northwest’s luxury market leader, and our W Collection program exemplifies this tradition in every detail. Our signature brand, elegant marketing materials, international reach, and dedication to perfection ensure that each W Collection property reaches the right buyers – both locally and globally. The events of the past 18 months have forever changed the way we view and connect to our homes. No longer are they just places to return to every night; they are truly where life happens. W Collection brokers understand this shift and approach every client experience with a high level of skill, care, and insight. We hope you enjoy the collection of homes and information in the pages to follow.
Geoff Wood
Jill Jacobi Wood
OB Jacobi
CEO AND CO-PRESIDENT
CO-PRESIDENT
CO-PRESIDENT
WbyWindermere.com
N O TA B L E L I S T I N G S
WOODWAY | #1782863 | $16,700,000
ISSAQUAH | #1643742 | $11,998,000
DOWNTOWN | #1655176 | $6,895,000
SAMMAMISH | #1807213 | $5,980,000
4 W C O L L E C T I O N
WbyWindermere.com
LAURELHURST | #1826615 | $9,250,000
BELLEVUE | #1830419 | $9,000,000
BLAINE | #1595999 | $5,900,000
ANACORTES | #1793027 | $5,500,000
W C O L L E C T I O N 5
N O TA B L E L I S T I N G S
SEATTLE | #1794910 | $5,495,000
PORTLAND | #21303939 | $5,199,000
ISSAQUAH | #1806666 | $3,980,000
EVERETT | #1738740 | $3,700,000
6 W C O L L E C T I O N
WbyWindermere.com
PORTLAND | #21654882 | $4,975,000
SEATTLE | # 1790657 | $4,900,000
SHORELINE | #1831642 | $3,699,000
EVERETT | #1766629 | $3,500,000
W C O L L E C T I O N 7
BLAINE
SAN JUAN ISLANDS
AVAI LABLE & SOLD
W COLLECTION P RO P ERTIE S
STRAIT OF JUAN DE FUCA
AVAILABLE PROPERTIES
SOLD PROPERTIES
To view our entire collection of solds visit wbywindermere.com
WHIDBEY ISLAND
PUGET SOUND
EVERETT
LYNNWOOD
KIRKLAND
BAINBRIDGE ISLAND SEATTLE
LAKE WASHINGTON
BELLEVUE
MERCER ISLAND
VASHON ISLAND
FOX ISLAND TACOMA PORTLAND, OR
SAMMAMISH
ISSAQUAH
N O TA B L E S A L E S
1. MEDINA Sold for $8,500,000 2. SEATTLE Sold for $6,300,000 3. FREELAND Sold for $5,500,000 4. BELLEVUE Sold for $4,075,000
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2
3
4
N O TA B L E S A L E S 5
6
9
7
5. SAMMAMISH Sold for $4,700,000
9. SEATTLE Sold for $8,022,050
6. SEATTLE Sold for $4,950,000
10. ISSAQUAH Sold for $4,940,000
7. BELLEVUE Sold for $4,500,000
11. SEATTLE Sold for $5,300,000
8. SEATTLE Sold for $6,000,000
12. BELLEVUE Sold for $3,550,000
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THE
GARDNER FORECAST
f or 2022
Matthew Gardner CHIEF ECONOMIST Windermere Real Estate
As Windermere’s Chief Economist, Matthew Gardner analyzes and interprets economic data and its impact on the real estate market on both a local and national level. On the opposite page, Matthew provides a snapshot of his 2022 economic and housing forecast for the Puget Sound region. For more analysis from Matthew, please visit Windermere.com/Economics.
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Matthew Gardner has over 30 years of professional experience both in the U.S. and U.K. In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.
2022 HOUSING MARKET FORECAST GREATER SEATTLE
SI NGL E-FAMI LY HO M E PRICE GROWTH “The combination of very favorable financing rates and persistently low levels of inventory continue to drive home prices up at well above average rates. However, many housing markets across the U.S. are starting to hit an affordability ceiling, and the Puget Sound area is no different.
While I anticipate solid demand from home buyers will continue in the coming year, the double-digit pace of home price growth that we have been experiencing is likely to taper. But fear not, prices will rise further in 2022. It is also worth noting that I expect prices to rise faster in Snohomish and Pierce counties than in King County where housing is considerably more expensive.”
17.3% 9.8%
2016
12.7%
2017
12.6% 4.6%
5.2%
2018
2019
8%
2020
2 02 1
2 02 2
(Change in median sales price of existing and new single-family homes in King, Pierce & Snohomish counties)
SI NGL E-FAMI LY HO M E SALES 2016
55,057
2017
57,359
2018
52,359
2019
52,643
2020
54,803
2021
60,266
2022
62,792
(Total closed sales - existing and new single-family homes in King, Pierce & Snohomish counties)
“COVID-19 did nothing to slow down the housing market in 2020 with buyer demand unwavering and sales rising by almost 10% more than I forecasted. Moving forward, I expect demand will continue to be very strong and only held back by a lack of inventory in both the existing and new home markets. Between 2016 and 2020 the sales of single-family homes priced above $1 million were up 118% and have shown no signs of any pandemic-induced slowing; so much so that luxury home sales this year have already exceeded the total seen in the whole of 2020. The significant increase in $1 million+ home sales in Snohomish and Pierce counties suggests to me that there is a growing number of buyers who are choosing to move away from King County into adjacent areas where their money goes further. This is a trend I see continuing.”
M O RTGAGE RATE S (AVG. 30-YE AR CONVE NTIONAL FIXE D)
Q1 2.88%
2021
2022
Q2 3.00% Q3
2.96%
Q4
3.25%
Q1
3.54%
Q2
3.68%
Q3
3.80%
Q4
3.89%
“All things being equal, mortgage rates react to economic activity. When the economy is expanding, rates tend to rise, and they do the opposite when the economy slows. That said, while we have been experiencing solid economic growth, rates continue to hold in a relatively tight range. When we fully emerge from the pandemic, economic activity will increase, and this will force rates to move higher. The Federal Reserve is expected to start tapering its bond holdings this fall, but despite this, rates are likely to remain below 4% until 2023. Jumbo mortgage rates rose sharply at the onset of the pandemic and then eventually settled back down. They too will start to trend higher in the coming year, but the increase is likely to match that of conforming rates.”
W C O L L E C T I O N 13
FEATURED AGENTS Experienced Windermere agents represent each W Collection property with a deep understanding of luxury home sales and marketing. Whether buying or selling, you can be confident your Windermere agent will tailor his or her skills to your unique needs, while showing the utmost care and consideration every step of the way.
Colleen McCann
Cori Whitaker
David Hogan
SEATTLE-MAGNOLIA 206.510.6596 colleenmccann@windermere.com
LYNNWOOD 206.795.4361 coriwhitaker@windermere.com
BELLEVUE 425.890.3318 davidhogan@windermere.com
John Kritsonis
Joseph Brazen
Julie Taylor
BELLEVUE SOUTH 206.498.0288 johnk@windermere.com
BELLEUVE COMMONS 425.531.0109 josephbrazen@windermere.com
BELLEVUE WEST 425.260.6182 julie@julietaylorteam.com
14 W C O L L E C T I O N
WbyWindermere.com/agent
Adam Cobb
Amy Sajer
Christina Siwek
EDMONDS 206.854.9454 adamcobb@windermere.com
SEATTLE-LAKEVIEW 206.550.8903 asajer@windermere.com
BELLEVUE SOUTH 425.628.9696 hillsiwek@windermere.com
Jack Malek
Jan Selvar
Javila Creer
SEATTLE-GREENWOOD 206.498.2189 jmalek@windermere.com
SEATTLE-EASTLAKE 206.200.3271 jan@janselvar.com
SEATTLE-LAKEVIEW 206.794.5284 javila@windermere.com
Karl Lindor
Katherine Vincent
Laine McNerney
BELLEVUE SOUTH 206.890.8227 karl@windermere.com
KIRKLAND 206.910.2122 kvincent@windermere.com
ISSAQUAH 425.890.8307 lainem@windermere.com
W C O L L E C T I O N 15
FEATURED AGENTS
Louis Muniz
Max Rombakh
Michael Doyle
WHIDBEY ISLAND-FREELAND 360.969.1028 louismuniz@windermere.com
YARROW BAY 206.227.0737 maxr@windermere.com
SEATTLE-LAKEVIEW 206.699.0203 mdoyle@windermere.com
Randi Brazen
Sandy Nicholls
Shawna Ader
BELLEVUE COMMONS 425.462.8000 randibrazen@windermere.com
BELLEVUE 425.444.4966 nicholls@windermere.com
SEATTLE-LAKEVIEW 206.251.2337 shawna@windermere.com
Sheri Putzke
Taylor Brazen Tagge
Theresa Truex
YARROW BAY 425.749.6703 sheriputzke@windermere.com
BELLEVUE COMMONS 425.765.7681 taylortagge@windermere.com
SEATTLE-LAKEVIEW 206.972.7768 ttruex@windermere.com
16 W C O L L E C T I O N
WbyWindermere.com/agent
Extraordinary is our ordinary.
ALL IN , F O R YO U.
All W Collection homes are marketed via Luxury Portfolio International® (LPI), the luxury division of Leading Real Estate Companies of the World®, which is responsible for more U.S. home sales volume than any other real estate network, franchise or brokerage brand. LPI attracts a global audience and markets over 50,000 of the world’s most remarkable homes annually on luxuryportfolio.com.
LPI BROKERAGES HAD
$36 BILLION MORE IN HOME SALES THAN OUR CLOSEST COMPETITOR
Leading Real Estate Companies of the World® (Includes Windermere Sales)
$296B Keller Williams
$260B Coldwell Banker
$207B
Compass
$152B
Berkshire Hathaway Home Services
$110B
Sotheby’s International Realty
$97B
RE/MAX
$96B
U.S. home sales data sourced from REAL Trends 500 for 2020, realtrends.com
W E MARKET YOUR PROPERTY TO THE WORLD Windermere’s W Collection properties are promoted to international buyers on websites such as LuxuryPortfolio.com, WallStreetJournal.com, JamesEdition.com, MansionGlobal.com, Juwai.com and Waijule.com. Through these sites we market your property to high-net-worth home buyers around the world.
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