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

2

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

4

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


Year Built: 1963

Style: Multi Level

Views: Territorial, Lake, Bay


Low Price Listing

Medina2244 77th Avenue NE

$2,819,0004 Bed / 3.25 Bath / 4,043 SQFT

MLS #: 927112


Year Built: 1993

Style: 1 Story

Views: None


Medium Price Listing

http://www.windermere.com/listing/42692500



5

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

6

Bellevue

Meydenbauer9968 SE 7th Court

$3,079,9505 Bed / 4.5 Bath / 5,504 SQFT

MLS #: 916877


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


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


Year Built: 2016

Style: 2 Story

Views: Territorial





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


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

8

Clyde Hill

Clyde Hill1506 90th Place NE

$2,998,000 5 Bed / 3.0 Bath / 3,730 SQFT

MLS #: 958742


Year Built: 1963

Style: 1 Story

Views: Mountain, Lake, City

High Price Listing


Clyde Hill9404 NE 20th Street

$6,588,0005 Bed / 5.75 Bath / 6,516 SQFT

MLS #: 964125


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


Year Built: 1966


Views: Territorial, Mountain

Low Price Listing





2016 Q2



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


2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

47

29

19

6064

42

5256

46 48

10

Hunts Point

Evergreen Point3257 Evergreen Point Road

$2,498,0004 Bed / 2.75 Bath / 3,800 SQFT


Year Built: 1952


Views: Territorial, Mountain, Lake, City

High Price Listing

Hunts Point8580 Hunts Point Lane

$6,800,0006 Bed / 5.25 Bath / 5,574 SQFT


Year Built: 1980

Style: 2 Story

Views: Bay, Canal, Lake, Mountain


Hunts Point3121 Hunts Point Circle

$3,000,0003 Bed / 3.0 Bath / 4,670 SQFT


Year Built: 1970


Views: Lake

Low Price Listing





2016 Q2



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


2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

14

4

NO SALES

8

5

3

5

98

3

NO SALES

12

Medina

Medina7900 NE 22nd Street

$4,800,0005 Bed / 5.5 Bath / 5,393 SQFT

MLS #: 944652


Year Built: 2016


Views: Territorial

High Price Listing

Medina8300 Overlake Drive W

$2,500,0003 Bed / 1.5 Bath / 3,300 SQFT

MLS #: 941718


Year Built: 1947


Views: Territorial

Low Price Listing

Medina925 80th Avenue NE

$3,498,0005 Bed / 4.25 Bath / 5,750 SQFT

MLS #: 952873


Year Built: 2003


Views: Territorial






2016 Q2



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


2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

52

42

18

37

5450

52

5862

40

14

Yarrow Point

Yarrow Point3833 94th Avenue NE

$8,500,0004 Bed / 5.25 Bath / 10,190 SQFT

MLS #: 947939


Year Built: 2012


Views: Mountain, Lake, City, Bay

High Price Listing

Yarrow Point3835 95th Avenue NE

$3,198,0004 Bed / 3.5 Bath / 4,890 SQFT


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


Year Built: 2001


Views: Territorial, Mountain, Lake, City, Bay






2016 Q2



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


2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

21

15

7

17

10

2221

22

16

19

16

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.



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

®

®





Powerful Marketing


WORC 05/14 #14146-4

®

®





Powerful Marketing


WORC 05/14 #14146-4

http://www.windermere.com

http://www.windermere.com

west bellevue market review...2 2016 q2 overview d espite a slight uptick in inventory, the west...

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