WbyWindermere.com
Windermere Real Estate has a long tradition of success and the W Collection program exemplifies this tradition in every detail. W Collection agents have mastered both the art and science of luxury property representation, delivering unparalleled levels of service and expertise to their clients. Each W Collection home is listed and marketed with skilled care and insight. 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 combination of our vast international network and our strength as the Northwest’s luxury market leaders provides the ultimate platform to showcase truly outstanding properties to the most discerning buyers.
WbyWindermere.com
BLAINE
SAN JUAN ISLANDS
AVAILABLE & SOLD
W COLLECTION PROPERTIES
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
SAMMAMISH
ISSAQUAH
REMARKABLE LISTINGS
HUNTS POINT | #2137083 | $70,000,000
BELLEVUE | #1911304 | $26,000,000
HUNTS POINT | #2156530 | $23,725,000
W C O L L E C T I O N 5
REMARKABLE LISTINGS
SEATTLE | #1979667 | $11,999,000
BELLEVUE | #2158709 | $10,500,000
KIRKLAND | #2129374 | $9,000,000
SAMMAMISH | #2049821 | $7,800,000
6 W C O L L E C T I O N
WbyWindermere.com
SAMMAMISH | #2046309 | $10,450,000
BELLEVUE | #2127958 | $9,950,000
SAMMAMISH | #2067611 | $7,498,000
ISSAQUAH | #2067197 | $6,999,888
W C O L L E C T I O N 7
REMARKABLE LISTINGS
SEATTLE | #2073270 | $6,500,000
SEATTLE | #2126426 | $5,995,000
ANACORTES | #2047047 | $5,300,000
NORMANDY PARK | #2137000 | $5,100,000
8 W C O L L E C T I O N
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SEATTLE | #2158952 | $5,500,000
MERCER ISLAND | #2159581 | $5,499,988
WOODINVILLE | #2165081 | $4,595,000
KIRKLAND | #2166099 | $4,500,000
W C O L L E C T I O N 9
REMARKABLE LISTINGS
SEATTLE | #2136352 | $4,400,000
KIRKLAND | #2056174 | $4,398,000
FREELAND | #1982256 | $3,500,000
SEATTLE | #2154232 | $3,500,000
10 W C O L L E C T I O N
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SEATTLE | #2157021 | $3,995,000
SEATTLE | #2138015 | $3,780,000
OAK HARBOR | #2139800 | $3,388,000
REDMOND | #2153388 | $3,250,000
W C O L L E C T I O N 11
NOTABLE SALES 1
5
6
7
1. KIRKLAND Sold for $10,400,000
5.
MEDINA Sold for $10,750,0 0 0
2. SEATTLE Sold for $3,500,000
6.
SEATTLE Sold for $3,170,000
3. WOODINVILLE Sold for $4,825,000
7.
SEATTLE Sold for $3,300,000
4. KIRKLAND Sold for $10,500,000
8.
BAINBRIDGE ISLAND Sold for $4,350,000
2
3
4
8
NOTABLE SALES 9
13
14
15
9.. NORMANDY PARK Sold for $5,850,000
9.
6. SEATTLE Sold for $4,395,000
10. BELLEVUE Sold for $4,500,000
7. KIRKLAND Sold for $4,350,000
11. SEATTLE Sold for $3,350,000
8. SAMMAMISH Sold for $4,430,000
12. BAINBRIDGE ISLAND Sold for $4,250,000
10
SHORELINE Sold for $ 4,530,0 0 0
12
11
16
THE
Matthew Gardner CHIEF ECONOMIST Windermere Real Estate
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.
16
GARDNER
FORECAST
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 2024 economic and housing forecast for the Puget Sound region. For more analysis from Matthew, please visit Windermere.com/Economics.
20 24 H O U S I N G M A R K E T F O R E C A S T GREATER SEATTLE
SINGLE-FAMILY HOME PRICE GROWTH During the pandemic, home prices skyrocketed largely thanks to historically low mortgage rates. Although rates started to rise in 2022, the market continued to experience price growth that was well above average, and that will still be the case in this year due to a supply-starved market.
However, far higher financing costs are going to remain for longer than initially thought and this, combined with persistent affordability constraints, will lead to a significant slowdown in price growth in 2024.
19.2% 10.4%
10.5%
10.3%
9.3% 3.4%
3.0% 2018
2019
2020
2021
2022
2 02 3
2 02 4
(Change in median sale prices for single-family resale homes in King, Pierce, and Snohomish counties)
SINGLE-FAMILY HOME SALES 20 18 16
50,996
20 19
51,716
20 20
53,439
20 21
59,744
20 22
44,968
20 23
34,038
20 24
40,214
(Single-family resale closed sales in King, Pierce, and Snohomish counties)
Low interest rates combined with pandemic-driven demand led home sales in 2021 to rise to a level not seen since 2005, but the market has since slowed significantly due to severe supply limitations. This hit the market hard in 2022 and I expect sales in 2023 to be even lower. The supply shortage is a function of the “lock-in” effect, as over 85% of mortgaged homeowners have rates below 5%. Homeowners are reluctant to sell and buy something new due to the financial shock that would come with losing their historically low mortgage rate for something in the 6% or 7% range. This will continue to impact home sales in the coming year, but I expect rates to start softening, which will result in a modest rise in transactions in 2024.
M O R T G A G E R A T E S ( A V G . 30- Y E A R C O N V E N T I O N A L F I X E D ) 20 18 16
4.5%
20 19
3.9%
20 20
3.1%
20 21
3%
20 22
5.4%
20 23
6.6%
20 24
6%
This year, mortgage rates briefly hit a level that had not been seen in over two decades and I expect the average rate in 2023 will be the highest seen since 2001. Rates on 10-year bonds, which are the basis for mortgage rates, are at 2007 levels. Given nervousness in the banking sector and significant new bond issuances going forward, mortgage rates will remain far higher than buyers have become used to. That said, Fed tightening is having the desired effect of slowing the U.S. economy. As inflation continues to pull back, bond yields should follow, which will allow mortgage rates to drop. Although I expect rates in 2024 to remain higher than buyers would like, they should fall to around 5.5% by the end of the year.
W C O L L E C T I O N 17
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 their skills to your unique needs, while showing the utmost care and consideration every step of the way.
Colleen McCann
Cori Whitaker
Craig Gaudry
Dana Hezel
Jack Malek
Jan Selvar
Janice Cai
Janine Duncan
Joseph Brazen
Julie Love
Julie Taylor
Julie Wilson
SEATTLE-MAGNOLIA 206.510.6596 colleenmccann@windermere.com
SEATTLE-GREENWOOD 206.498.2189 jmalek@windermere.com
BELLEVUE COMMONS 425.531.0109 josephbrazen@windermere.com
18 W C O L L E C T I O N
LYNNWOOD 206.795.4361 coriwhitaker@windermere.com
SEATTLE-EASTLAKE 206.200.3271 jan@janselvar.com
CAMANO ISLAND 425.530.0799 julielove@windermere.com
YARROW BAY 425.576.5555 craig@gaudry.com
BELLEVUE COMMONS 425.691.6998 janicecai@windermere.com
BELLEVUE WEST 425.260.6182 julietaylor@windermere.com
WHIDBEY ISLAND-FREELAND 360.632.1075 danahezel@windermere.com
SEATTLE-WALL STREET 206.852.8334 jd@janineduncan.com
BELLEVUE WEST 206.225.1500 julie.wilson@windermere.com
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Adam Cobb
Amy Sajer
Anna Riley
Carleen Gosney
David Eastern
Deirdre Doyle
Denise Niles
Holley Ring
Javila Creer
Jeri Smith
Jim Badgley
John Kritsonis
Junior Torres
Karishma Kiri
Katherine Vincent
Kathie Salvadalena
EDMONDS 206.854.9454 adamcobb@windermere.com
BELLEVUE WEST 425.941.1199 deastern@windermere.com
SEATTLE-LAKEVIEW 206.794.5284 javila@windermere.com
SEATTLE-GREENWOOD 206.854.5596 junior@windermere.com
SEATTLE-LAKEVIEW 206.550.8903 asajer@windermere.com
SEATTLE-LAKEVIEW 206.234.3386 deirdre@windermere.com
SEATTLE-SAND POINT 206.295.8785 jerismith@windermere.com
YARROW BAY 425.802.5465 karishma@thek2grouprealestate.com
YARROW BAY 425.761.8836 anna@westbellevue.com
YARROW BAY 425.301.1769 denise@westbellevue.com
YARROW BAY 425.466.1044 jim@badgleyhomes.com
KIRKLAND 206.910.2122 kvincent@windermere.com
BAINBRIDGE ISLAND 206.909.2042 carleen@windermere.com
SEATTLE-QUEEN ANNE 206.852.6107 hring@windermere.com
BELLEVUE SOUTH 206.498.0288 johnk@windermere.com
SNOHOMISH 425.350.0020 kathie.salvo@gmail.com
W C O L L E C T I O N 19
Kirk Lent
Laine McNerney
Linda Peffer
Louis Muniz
Natalie Evans
Randi Brazen
Rick Franz
Sara Miller
Shawna Ader
Sheri Putzke
Sue Rockwell
Susan Grosten
Ty Evans
Veronique Hval
Vesna Somers
Wendy Indvik
GIG HARBOR-PROF PARTNERS 253.905.1752 kirklent@windermere.com
BAINBRIDGE ISLAND 206.795.2818 natalieevans@windermere.com
SEATTLE-LAKEVIEW 206.251.2337 shawna@windermere.com
BAINBRIDGE ISLAND 206.795.0202 tyevans@windermere.com
20 W C O L L E C T I O N
ISSAQUAH 425.890.8307 lainem@windermere.com
BELLEVUE COMMONS 425.462.8000 randibrazen@windermere.com
YARROW BAY 425.749.6703 sheriputzke@windermere.com
SEATTLE-MADISON PARK 206.214.8499 veronique@belleresidence.com
BELLEVUE COMMONS 206.226.2823 lindapeffer@windermere.com
BELLEVUE SOUTH 206.999.9718 rickfranz@rickfranz.com
SEATTLE-LAKEVIEW 206.683.0303 suerock@windermere.com
BAINBRIDGE ISLAND 206.947.1597 vesna@windermere.com
WHIDBEY ISLAND-FREELAND 360.969.1028 louismuniz@windermere.com
ISSAQUAH 425.891.6488 saram@windermere.com
BAINBRIDGE ISLAND 206.755-8411 susangrosten@windermere.com
BAINBRIDGE ISLAND 206.276.1031 wendyindvik@windermere.com
WbyWindermere.com/agent
Anni Zilz
Julie Hall
Bridget Young
Ken Nash
Clive Egdes
Natalie English
Don Kenney
Sarah Sydor
Dustin Van Wyck
Susan Stasik
Ian Porter
Susan T. Jones
Joni Kimmel
Terry Vehrs
MERCER ISLAND 206.390.5723 annizilz@windermere.com
Max Rombakh
Michael Doyle
YARROW BAY 206.227.0737 maxr@windermere.com
SEATTLE-LAKEVIEW 206.669.0203 mdoyle@windermere.com
POULSBO 360.509.2260 bridgetyoung@windermere.com
KIRKLAND 206.251.1680 cliveegdes@msn.com
SEATTLE-BALLARD 206.910.0732 dkenney@windermere.com
Scott Richards
BELLEVUE 206.409.2498 scott@richardsrealty.com
Scott Whittlesey BELLEVUE WEST 425.269-1303 scott.w@windermere.com
SEATTLE-CAPITOL HILL 206.324.8900 dustin@windermere.com
SEATTLE-CAPITOL HILL 206.324.8900 ian@windermere.com
POULSBO 360.509.6988 jonikimmel@windermere.com
Taylor Brazen Tagge BELLEVUE COMMONS 425.765.7681 taylortagge@windermere.com
Theresa Truex
SEATTLE-LAKEVIEW 206.972.7768 ttruex@windermere.com
YARROW BAY 206.713.9228 juliehall@windermere.com
KIRKLAND-NORTHEAST 206.919.3167 kennash@windermere.com
SEATTLE-WEST SEATTLE 206.931.8416 natalieenglish@windermere.com
BAINBRIDGE ISLAND 206.683.4526 ssydor@windermere.com
SEATTLE-MADISON PARK 206.660-1012 susan@windermere.com
BELLEVUE WEST 425.922.9990 stjones@windermere.com
ALDERWOOD 425.778.1888 vehrs@windermere.com
Julia Krill
YARROW BAY 206.406.9000 jkrill@windermere.com
O U R VALUE S RADICAL INTEGRITY We believe trust and respect are the bedrock of every relationship. THOUGHTFUL PROFESSIONALISM We take a holistic approach to every aspect of our business. COURAGEOUS INGENUITY We dream big, lead creatively and evolve constantly. COLLECTIVE GENEROSITY We believe in acting beyond ourselves. We invest in people and their lives.
W C O L L E C T I O N 21
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 BROKER AGES HAD
$52 BILLION MORE IN HOME SALES
THAN OUR CLOSEST COMPETITOR Leading Real Estate Companies of the World® (Includes Windermere Sales)
$353B Keller Williams
$312B Coldwell Banker
$233B
Sotheby’s International Realty
$124B
Berkshire Hathaway Home Services
$120B
RE/MAX
$97B
Century 21
$32B
HomeSmart International
$30B
U.S. home sales data sourced from REAL Trends 500 for 2022, realtrends.com
WE 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, Waijule.com and Financial Times. Through these sites we market your property to high-net-worth home buyers around the world.
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