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Jan. 26, 2011 - Home Prices in The Microsoft Zone

Home Prices near Microsoft Main Campus include zip codes  98052, 98007, 98033, 98034, 98008, 98005 and to some extent 98004 and 98039. First let's break down the property sold in the target area (which I have drawn by a polygon map search) since some of those zip codes, especially 98034, are included only in part.

Total Property Sold on a 365 day rolling basis as of today - 2,141 properties.

Single Family Homes - 1,391 of those 2,141 properties were single family homes as follows:

2 story - 500 homes of which 131 were built since 2009. 116 were built from 2003 to 2008, 106 were built from 1992 - 2002. 99 between 1980 and 1991 and 66 prior to 1980. In that last group there are many that were not really 2 story homes meaning they may have added on or two bedrooms up on a 1 story home, or are simply calling things 2 story that are not. There weren't too many 2 story homes built in the area near Microsoft prior to 1975. A few, but not many. To me, a 2 story home has the kitchen on the main level and the bedrooms UP a full flight of stairs and not DOWN or up a few steps like a split level. Not everyone adheres to that definition.

Median Home Price for a 2 story Home near Microsoft is $660,000.

Let's break those 500 2 story homes sold down by Zip Code.

98052 - 200 (40%) were in 98052 with a median price of $615,000. Half of those were built in 2004 or later with a median price of $650,000. Only 8 of those 200 were short sales and 9 were bank owned property, so about 9% of those 200 in 98052.

98033 - 155 (31%) were in 98033 with a median price of $650,000. Half of those were built in 2002 ore later with a median price of $750,000. 15 of those 155 were short sales and 15 were bank-owned, so 19%. 

98004 - 66 (13%) were in 98004 with a median price of $1,200,000. About half of those were built in 2005 or later5 of those 66 were bank-owned and 10 were short sales. 

28 were in 98007 with a median price of $625,000 and only 6 of those are built since 1990.

28 were in 98005 with a median price of $875,000 and 11 built since 1990. 

23 are in 98008 with a median price of $600,000 and 10 built since 1990 .

8 were in Medina with a median price of $1,500,000 and 5 built since 1990.

Only 2 were in 98034, that surprises me. I'm only using a portion of 98034 between Downtown Kirkland and Redmond-Bellevue, but still... 

If we break this into Three Price Tiers

1/3 sold for $590,000 or less of which 16 were bank owned and 13 were short sales - 17%. Admittedly many of those were in bad shape and bad locations and had only a partial 2nd floor, not 3 or 4 bedrooms "up".

1/3 sold for $591,000 to $750,000 of which 9 were bank-owned and 4 were short sales - 7%.

1/3 sold for $750,000 or more with 60% of those selling for a million dollars or more of which 10 were bank-owned and 20 were short sales - 17%.

Charts and commentary HERE

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Going off on a tangent for a sec while I still have a polygon map in place. 

Notes to self:

13% of the condos sold were bank owned sales; 10% were short sales - 24% overall.

9% of the homes sold were bank owned sales; 11% were short sales - 19% overall

********

Required Disclosure: Stats in this post are not compiled or published by The Northwest Multiple Listing Service - NWMLS.)

 

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Aug. 3, 2011 - RE: Home Prices in The Microsoft Zone

Posted by Joseph - Los Angeles Roofing Expert
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Aug. 23, 2011 - RE: Home Prices in The Microsoft Zone

Posted by Air Duct Cleaning 33496

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ARDELL DellaLoggia of Sound Realty on Seattle Real Estate process and market including Kirkland, Bellevue, Redmond, Green Lake and most areas around the top of Lake Washington North of Downtown Seattle. Phone: 206-910-1000 - Mailto:ARDELLd@gmail.com

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