West Bellevue Market Review...2 2016 Q2 OVERVIEW D espite a slight uptick in inventory, the West...
Transcript of West Bellevue Market Review...2 2016 Q2 OVERVIEW D espite a slight uptick in inventory, the West...
West Bellevue Market Review
Q2 Real estate statistics for the second quarter of 2016
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2016 Q2 OV ERV IE W
Despite a slight uptick in inventory, the West Bellevue real estate market hit new records in the second quarter. A national study showed that home prices are rising faster in Washington than any other state.
• Always the most expensive market on the Eastside, West Bellevue saw the median price for a single family home reach a new record of $1,905,500, an increase of 5% over the previous year.
• Inventory increased slightly, but with just a two month supply of homes it is still a solid seller’s market. (Three to six months is considered to be a balanced market. )
• Sellers are taking advantage of the significant appreciation to maximize their returns by selling now. Homes that are priced correctly are selling quickly, often within days. Of the West Bellevue homes that sold in June, nearly half sold in 10 days or less.
• If the West Bellevue luxury homes priced at $2 million or more that sold in the second quarter, Windermere brokers were involved in 50 percent of the real estate transactions.
[ Cover photo: listing #944652 on page 12 ]
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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
Sales Over List Price .........................................................................................17
Why Windermere ...............................................................................................18
Windermere Foundation .............................................................................19
Local Expertise, Global Connections ...............................................20
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Bellevue / West of I-405
West Bellevue4 Diamond S Ranch
$7,988,0004 Bed / 6.0 Bath / 7,594 SQFT
MLS #: 961106
Lot Size: 1.59 acres
Year Built: 1993
Style: 1 Story
Views: None
School District: Bellevue
West Bellevue9414 NE 1st Street
$2,098,000 4 Bed / 1.75 Bath / 4,360 SQFT
MLS #: 960529
Lot Size: 0.36 acres
Year Built: 1963
Style: Multi Level
Views: Territorial, Lake, Bay
School District: Bellevue
Low Price Listing
Medina2244 77th Avenue NE
$2,819,0004 Bed / 3.25 Bath / 4,043 SQFT
MLS #: 927112
Lot Size: 0.37 acres
Year Built: 1993
Style: 1 Story
Views: None
School District: Bellevue
Medium Price Listing
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2016 Q2
Months Supply of Inventory > JUNE(includes pending sales)
less than 3 months = seller’s market
3 -6 months = balanced market
more than 6 months = buyer’s market
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.
All figures are based on single family home sales, which include townhomes and exclude condos.
Median Closed Sales Price > JUNE
Closed Sales > JUNE
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
2015 2016 10 year average
$1,612,500
$1,285,000
$1,175,000
$980,000$1,037,500
$943,750
$1,137,000
$1,664,000
$1,811,250$1,902,500
-20% -9% -17% +6% -9% +20% +46% +9% +5%
1.72.0
4.3
2015 2016 10 year average
4451
38
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Bellevue
Meydenbauer9968 SE 7th Court
$3,079,9505 Bed / 4.5 Bath / 5,504 SQFT
MLS #: 916877
Lot Size: 0.33 acres
Year Built: 2016
Style: 2 Stories with Basement
Views: Territorial, Mountain, City, Bay
High Price Listing
Enatai10014 SE 16th Street
$1,430,0005 Bed / 2.5 Bath / 4,200 SQFT
MLS #: 965012
Lot Size: 0.38 acres
Year Built: 1968
Style: 1 Story with Basement
Views: Territorial
Low Price Listing
Enatai10455 SE 24th Place
$2,748,0005 Bed / 4.25 Bath / 4,579 SQFT
MLS #: 972902
Lot Size: 0.32 acres
Year Built: 2016
Style: 2 Story
Views: Territorial
Medium Price Listing
7Graphs 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.
2016 Q2
All figures are based on single family home sales, which include townhomes and exclude condos.
Median Closed Sales Price > for year ended JUNE 30th
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$980,000$1,045,000
$924,500
$750,000$682,500
$751,000
$886,500
$1,170,000
$1,385,000
$1,600,000
Number of Units Sold > for year ended JUNE 30th
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
236
198
108
221234
188
236227
244
176
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Clyde Hill
Clyde Hill1506 90th Place NE
$2,998,000 5 Bed / 3.0 Bath / 3,730 SQFT
MLS #: 958742
Lot Size: 0.45 acres
Year Built: 1963
Style: 1 Story
Views: Mountain, Lake, City
High Price Listing
Medium Price Listing
Clyde Hill9404 NE 20th Street
$6,588,0005 Bed / 5.75 Bath / 6,516 SQFT
MLS #: 964125
Lot Size: 0.33 acres
Year Built: 2016
Style: 2 Story
Views: Mountain, Lake, City
Clyde Hill2261 95th Avenue NE
$1,680,0004 Bed / 1.75 Bath / 3,920 SQFT
MLS #: 916595
Lot Size: 0.46 acres
Year Built: 1966
Style: 1 Story with Basement
Views: Territorial, Mountain
Low Price Listing
9Graphs 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.
2016 Q2
All figures are based on single family home sales, which include townhomes and exclude condos.
Median Closed Sales Price > for year ended JUNE 30th
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$1,565,000
$2,085,250
$1,320,000$1,206,375 $1,185,000
$1,268,750
$1,507,500
$1,729,000$1,830,000
$1,919,400
Number of Units Sold > for year ended JUNE 30th
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
47
29
19
6064
42
5256
46 48
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Hunts Point
Evergreen Point3257 Evergreen Point Road
$2,498,0004 Bed / 2.75 Bath / 3,800 SQFT
Lot Size: 0.79 acres
Year Built: 1952
Style: 1 Story with Basement
Views: Territorial, Mountain, Lake, City
High Price Listing
Hunts Point8580 Hunts Point Lane
$6,800,0006 Bed / 5.25 Bath / 5,574 SQFT
Lot Size: 0.77 acres
Year Built: 1980
Style: 2 Story
Views: Bay, Canal, Lake, Mountain
Medium Price Listing
Hunts Point3121 Hunts Point Circle
$3,000,0003 Bed / 3.0 Bath / 4,670 SQFT
Lot Size: 0.32 acres
Year Built: 1970
Style: 1 Story with Basement
Views: Lake
Low Price Listing
11Graphs 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.
2016 Q2
All figures are based on single family home sales, which include townhomes and exclude condos.
Median Closed Sales Price > for year ended JUNE 30th
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$5,176,500
$1,820,750
$7,950,000
$1,170,000
$4,799,000
$5,500,000
$7,100,000
$2,500,000$2,879,250
Number of Units Sold > for year ended JUNE 30th
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
14
4
NO SALES
8
5
3
5
98
3
NO SALES
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Medina
Medina7900 NE 22nd Street
$4,800,0005 Bed / 5.5 Bath / 5,393 SQFT
MLS #: 944652
Lot Size: 0.46 acres
Year Built: 2016
Style: 1 Story with Basement
Views: Territorial
High Price Listing
Medina8300 Overlake Drive W
$2,500,0003 Bed / 1.5 Bath / 3,300 SQFT
MLS #: 941718
Lot Size: 0.36 acres
Year Built: 1947
Style: 1 Story with Basement
Views: Territorial
Low Price Listing
Medina925 80th Avenue NE
$3,498,0005 Bed / 4.25 Bath / 5,750 SQFT
MLS #: 952873
Lot Size: 0.34 acres
Year Built: 2003
Style: 1 Story with Basement
Views: Territorial
Medium Price Listing
13Graphs 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.
2016 Q2
All figures are based on single family home sales, which include townhomes and exclude condos.
Median Closed Sales Price > for year ended JUNE 30th
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$1,887,500
$1,627,500
$1,275,000 $1,245,000
$1,442,500 $1,404,000 $1,382,500
$1,739,000
$2,479,000
$1,947,500
Number of Units Sold > for year ended JUNE 30th
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
52
42
18
37
5450
52
5862
40
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Yarrow Point
Yarrow Point3833 94th Avenue NE
$8,500,0004 Bed / 5.25 Bath / 10,190 SQFT
MLS #: 947939
Lot Size: 0.32 acres
Year Built: 2012
Style: 2 Stories with Basement
Views: Mountain, Lake, City, Bay
High Price Listing
Yarrow Point3835 95th Avenue NE
$3,198,0004 Bed / 3.5 Bath / 4,890 SQFT
Lot Size: 0.49 acres
Year Built: 1996
Style: 2 Story
Views: None
Low Price Listing
Yarrow Point4233 91st Avenue NE
$5,998,8004 Bed / 3.5 Bath / 5,850 SQFT
MLS #: 934282
Lot Size: 0.44 acres
Year Built: 2001
Style: 2 Stories with Basement
Views: Territorial, Mountain, Lake, City, Bay
Medium Price Listing
15Graphs 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.
2016 Q2
All figures are based on single family home sales, which include townhomes and exclude condos.
Median Closed Sales Price > for year ended JUNE 30th
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$1,625,000$1,500,000
$2,700,000
$1,205,000$1,355,000
$1,820,000$1,660,000
$1,466,025
$2,150,000
$3,200,000
Number of Units Sold > for year ended JUNE 30th
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
21
15
7
17
10
2221
22
16
19
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Market Share by Company 2015
Windermere
Coldwell Banker
John L. Scott
RE/MAX
Sotheby’s International Realty
Keller Williams
Skyline
NWG Real Estate
Redfin
5% 10% 15% 20% 25% 30% 35% 40%
39%26%
16%10%
10%9%
6%7%
4%4%
Representing Sellers Representing Buyers
Bellevue > WEST OF I-405 > by number of transactions
Companies not shown have less than 1% market share in buyers or sellers or both.
3%5%
2%7%
2%
2%1%
1%
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 1/1/2015–12/31/2015 in area 520.
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Multiple offers? Your broker can make or break your deal.
*Based on single family home sales in King County that closed above list price in 2015. New construction, condominiums and short sales were excluded.**Based on a 2015 independent study of NWMLS brokers who closed six or more transactions in the previous year.
Buyers working with a Windermere broker are 19% more likely to win the sale in a multiple offer situation.*
Why Windermere brokers are most successful:• Windermere brokers help position their buyer’s offer to have the greatest appeal to the seller.
• Windermere brokers receive extensive training on how to create the most competitive offer and negotiate successfully in a multiple offer situation..
• Brokers are more confident in completing a transaction with a broker from Windermere than they are with any other real estate company.**
Success in multiple offersChange in market share in multipleoffers vs. non-multiple offers.
43% of home sales involve multiple offers.
Windermere
Lake & Company
Coldwell Banker
Keller Williams
Redfin
The Force Realty
RE/MAX
Sotheby’s
Skyline
Berkshire Hathaway
0.9%
0.9%
4.2%
0.5%
0.4%
0.2%
-0.2%
-0.2%
-0.5%
-0.5%
-2.8%John L. Scott
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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.
The study was conducted by a third party in 2015 and included brokers who closed six or more transactions in the previous year.
Windermere
Coldwell Banker
John L. Scott
RE/MAX
Sotheby’s International Realty
Keller Williams
Lake & Company
Berkshire Hathaway
Gerrard Beattie & Knapp
Redfin
The Cascade Team
The Force Real Estate
RSVP Real Estate
10% 20% 30% 40% 50% 60% 70% 80% 90%
81%
71%
16%
9%
9%
9%
64%
54%
48%
45%
43%
34%
27%
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2015 Donation Grantees List Eastside Windermere Foundation
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 2015.
A Brighter Future Because of You!
Acres of DiamondsProvides homeless women and children a safe haven and academic, relational and emotional mentoring.
Assistance League of the EastsideOperation Scholl Bell provides new Back-To-School clothing for disadvantaged students on the Eastside.
Attain HousingTransitioning homeless families with children into stable, permanent housing.
Backpack MealsProvides weekend’s worth of food to low income students in the Bellevue School District.
Bellevue Lifespring (formerly Overlake Service League)Provides meals to children on free and reduced cost lunch programs when school is not in session.
Birthday DreamsProvides Birthday-In-A-Box to homeless children.
Boys & Girls Club of BellevueFunds going to Project Learn — serving kids from 3 East Bellevue low-income housing developments.
Eastside AcademyPays for food expenses for homeless and poverty-level students while they attend this alternative school.
Eastside Baby CornerDistributes basic need items for infants and children.
KinderingProvides parent coaching at transitional housing sites.
LifeWire (formerly Eastside Domestic Violence)Provides emergency housing and support services for those fleeing abusive home situations.
Mamma’s HandsThe House of Hope program supports three shelters for homeless women and children in crisis.
Royal Family Kids CampProvides summer camp experiences for abused foster children.
Valley RenewalProvides food, shelter and supplies to those in need in the Snoqualmie Valley.
windermere.com
Local Expertise, Global Connections, Powerful Marketing
We Market Your Property to the World
When selling your home, you need global exposure in addition to the strong marketing expertise we deliver locally. As an affiliate of Leading Real Estate Companies of the World®, we have the resources to market your property to the highest possible number of potential buyers. With 120,000 talented associates around the world, we expose your property to buyers on six continents, ensuring more eyes on your property. In addition, we receive inbound clients from other affiliates around the globe who are interested in purchasing a home.
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. Each year our network is collectively responsible for over one million transactions on a global basis.
When your home is posted to our website locally, it is immediately promoted on the LeadingRE.com website. It is also immediately connected to the websites of over 500 of our affiliated real estate firms in the world.
®
®
WE MARKET YOUR PROPERTY TO THE WORLDWhen selling your home, you need global exposure in addition to the strong marketing expertise we deliver locally. As an affiliate of Leading Real Estate Companies of the World®, we have the resources to market your property to the highest possible number of potential buyers. With 120,000 talented associates around the world, we expose your property to buyers on six continents, ensuring more eyes on your property. In addition, we receive inbound clients from other affiliates around the globe who are interested in purchasing a home.
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. Each year our network is collectively responsible for over one million transactions on a global basis.
When your home is posted to our website locally, it is immediately promoted on the LeadingRE.com website. It is also immediately connected to the websites of over 500 of our affiliated real estate firms in the world.
Local Expertise, Global Connections,
Powerful Marketing
OVER 500 FIRMS n 3,500 OFFICES n 120,000 ASSOCIATES n NEARLY 50 COUNTRIESOVER ONE MILLION TRANSACTIONS n $314 BILLION IN ANNUAL HOME SALES
WORC 05/14 #14146-4
®
®
WE MARKET YOUR PROPERTY TO THE WORLDWhen selling your home, you need global exposure in addition to the strong marketing expertise we deliver locally. As an affiliate of Leading Real Estate Companies of the World®, we have the resources to market your property to the highest possible number of potential buyers. With 120,000 talented associates around the world, we expose your property to buyers on six continents, ensuring more eyes on your property. In addition, we receive inbound clients from other affiliates around the globe who are interested in purchasing a home.
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. Each year our network is collectively responsible for over one million transactions on a global basis.
When your home is posted to our website locally, it is immediately promoted on the LeadingRE.com website. It is also immediately connected to the websites of over 500 of our affiliated real estate firms in the world.
Local Expertise, Global Connections,
Powerful Marketing
OVER 500 FIRMS n 3,500 OFFICES n 120,000 ASSOCIATES n NEARLY 50 COUNTRIESOVER ONE MILLION TRANSACTIONS n $314 BILLION IN ANNUAL HOME SALES
WORC 05/14 #14146-4
®
®
WE MARKET YOUR PROPERTY TO THE WORLDWhen selling your home, you need global exposure in addition to the strong marketing expertise we deliver locally. As an affiliate of Leading Real Estate Companies of the World®, we have the resources to market your property to the highest possible number of potential buyers. With 120,000 talented associates around the world, we expose your property to buyers on six continents, ensuring more eyes on your property. In addition, we receive inbound clients from other affiliates around the globe who are interested in purchasing a home.
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. Each year our network is collectively responsible for over one million transactions on a global basis.
When your home is posted to our website locally, it is immediately promoted on the LeadingRE.com website. It is also immediately connected to the websites of over 500 of our affiliated real estate firms in the world.
Local Expertise, Global Connections,
Powerful Marketing
OVER 500 FIRMS n 3,500 OFFICES n 120,000 ASSOCIATES n NEARLY 50 COUNTRIESOVER ONE MILLION TRANSACTIONS n $314 BILLION IN ANNUAL HOME SALES
WORC 05/14 #14146-4