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ARDELL's Seattle Area Real Estate Blog

May. 13, 2007 - Regarding Market Stats and Graphs

"Statistics not compiled or published by NWMLS." I hand calculate all of my stats, I compile them and I publish them. I note the source as NWMLS, as that is the system I use to get the raw data.

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Jan. 23, 2016 - Home Prices and Market Stats for Kirkland 98033 & 98034

Where are Kirkland Home Prices at the start of 2016 begins with a thorough breakdown of the 2015 stats by Property Type, Age of Home, and several other factors. Parking some of the graphs here for the moment as I continue to gather all of the info and convert them to graph form before linking them with appropriate commentary.

I started these about a week ago but was interrupted by a multiple offer situation with 6 offers in Bellevue. There has been no seasonal slowdown as to buyer activity, when there is a new listing on market. Basically that points to another up year for 2016, but more as I finish all of the graphs and get them posted here.

Houghton more important going in to 2016 and the trend of Houghton and the 98004 community just below Houghton exceeding West of Market and East of Market in many ways, continues to be a trend. Check back for more as I complete this post over the next couple of days.

  

 

 

 

Required Disclosure: Stats, Graphs and Commentary in this post not published, verified or compiled by The Northwest Multiple Listing Service. These are hand calculated by Ardell DellaLoggia and not a regurgitation of data made available elsewhere and copied.

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Jan. 2, 2015 - 2015 Home Prices in Redmond Washington

 Home Prices in Redmond Washington 98052 (vs 98053)

Quick Facts based on prior 365 days and year end 2014 price start point for 2015.

1,018 people bought a home in Redmond 98052

404 of them bought a condo and 614 of them bought a house. 

The median price of a single family home in Redmond 98052

is $660,000

Of the 404 condos sold, 200 were one level condos and 204 were townhome style condos.

The median price of a one level condo in Redmond 98052

is $223,000

The median price of a townhome style condo in Redmond 98052

is $428,000

236 of the 404 Single Family Homes sold were less than ten years old.

The median price of a SFH less than 10 years old in Redmond 98052 is $791,000

The median price of a SFH more than 10 years old Redmond 98052

is $573,000

********

98053 Redmond vs 98052 Redmond is a secondary market much like Sammamish and Bothell vs Kirkland, parts of Bellevue and Redmond 98052.

491 homes sold in 98053 of which 433 were single family homes.

Historically people would purchase a bit far out in the 98053 vs 98052 zip code to get a lot more land with their home than they would in 98052. 166 of the 433 homes sold fit that description with lot sizes of 15,000 sf or more and a median price of $715,000.

ONLY 19 of the homes sold in 98053 with lots that are 15,000 sf or more were less than 10 years old, and those sold for a median price of $900,000. 

The trend to go to 98053 to get a NEW house on a small lot is relatively new, and the question is will the prices they pay to go that far to get NEW hold when they try to sell that house as NOT new.


Quite a bit of in between here, much like Sammamish, but mostly I say if you are going out a bit from Redmond 98052 then put closer in Sammamish in the mix along with 98053 before making any permanent decisions between the two. Sometimes an almost new in Sammamish is better than a brand new in 98053 and often most any age 98052 is better than new in 98053. Not always, but worth taking the time to compare the options with a high degree of due diligence before buying.

 (Required Disclosure: Stats in this post are not compiled, published or verified by The Northwest Multiple Listing Service NWMLS. They are hand compiled by Ardell DellaLoggia as she was writing the post in real time.)

 

 

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Nov. 11, 2012 - Home Prices in Kirkland Washington

 Median Home Prices in Kirkland WA by Elementary School.

And then again on a Price Per Square Foot basis.

As I just did with home prices in Redmond I am looking for surprises in volatility vs consistency. Lakeview I would say is grabbing its volatility from Google and also school ranking. Juanita has got to be about school ranking almost solely though annexation of areas around it have created some issues as well. Kirk is always the consistent factor as to location.

Bell is always and often the undervalued are, especially in the area near the school itself and in the same position south but further west to Lake Washington. 

Needed to get to this today before heading out with some clients in Kirkland. I always do Redmond first as there is less pull in Redmond for view issues, so I use it as my baseline of expectation.

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Nov. 8, 2012 - Home Prices in Redmond Washington

(UPDATE 11/10/12 - Added a few details over on Rain City Guide using the same data.)

Putting together some graphs showing median home prices in Redmond WA by Elementary School and then breaking that down further to Price Per Square Foot. Home prices are not changing by as much as some of the news sound bites would have you believe.

But before looking for a home to buy in Redmond Washington attached to a specific Elementary School, it's a good idea to study the median home prices associated with each. These large home price differences have more to do with the type of homes that exist within the boundaries of each school, vs anything to do with the schools, for the most part.

I am pushing the charts to being at the lowest price and to the highest price vs from zero, not to make the price differences look more dramatic, but to make the numbers more readable vs showing up one on top of another. This even more important in the below graph given the variance of price per square foot is even flatter than home prices. 

There has been a lot of speculation lately that low volume is skewing the numbers, but these numbers are cumulative so that "3 years" means the median of 3 years running and not merely "3 years ago" so the first number includes all of the houses up to present. This makes for a pretty accurate "trend line" which is pretty darned flat for 3 years running.

It may not appear that way when you are looking for a home as good homes priced well sell very quickly. But part of that quickly is merely that agents and sellers are much better at pricing now than they were 3 years ago.

The flattish market for that long of a period of time has created better and more comps to pinpoint accuracy closer now than 4 years ago or 3 years ago.

Running numbers for some schools in Kirkland and a few in Bellevue to see if there is an overall trend over that broad territory or if it is all just up or down within 3% or so. At the end we'll tie it all together.

********

Required Disclosure: Stats in this post and graphs are not compiled, verified or published by The Northwest Multiple Listing Service.

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Mar. 7, 2012 - Kirkland 98033

Using a 180 day rolling basis to track the market in this zip code. 97 condos sold. 188 homes sold.

Let's separate by Property Type within these two categories.

 


Starting with the first graph and noting For Sale as comparison to Sold.

 

Now to For Sale as Comparison to Sold by Type. 

True, inventory is low...but it's far from non-existent. given the # of homes sold in a full six months shown at the beginning of this post, the amount for sale does not seem extraordinarily small by comparison.

********

Required Disclosure: Stats are not compiled, verified or published by The Northwest Multiple Listing Service. 

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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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