Thinking of going green? Today’s technology offers a whole host of ways to boost your home’s efficiency, reduce your carbon footprint and lower your energy bills. Some upgrades can pay for themselves in a relatively short amount of time, while others with large price tags might take decades to start paying back. The good news is that several studies have shown buyers are willing to pay a premium for green features—as much as 30% more for retrofitted green homes that become Energy Star or LEED-certified. This means that even if those fancy new features don’t pay you back right away in energy savings, you might still be able to recoup part of the cost when you sell your home. Below are the average payback times for some common items…just keep in mind that the actual payback time will depend on your initial costs and the amount of energy you typically use each month.

According to EnergySage.com, the average cost for adding solar panels to your home in King County is about $13,850 for a typical 5kW system (a net cost of $10,249 after the 26% Federal Investment Tax Credit for 2020). Based on the amount of energy they generate in our area, they usually pay for themselves in about 10.16 years. Furthermore, a study commissioned by the Department of Energy found that home buyers across multiple states and home types were willing to pay more for homes with solar panels (about $15,000 for homes with a 3.6kW system). This may help offset your costs should you need to sell your home before the payback period.

In addition to giving you endless hot water, tankless water heaters are also about 20% more energy efficient than traditional storage tanks and last about 10 years longer. However, their additional equipment and installation cost means it can take quite a while for your energy savings to cover that difference—12-20 years for electric models and 22.5-27.5 years for gas models. Their longer lifespan may ultimately help them pay off in the long run.

Looking for an easy investment with quick bang for your buck? LED bulbs may cost more, but the amount of electricity they save more than covers the cost. A 100W equivalent LED bulb costs about $6 to buy but uses only 13% the amount of energy of its incandescent counterpart. Used 4 hours a day, it also reduces CO2 emissions by a whopping 262.93 pounds per year. Depending on the number of bulbs you have and the frequency of their use, the dollar and carbon savings could really add up over time.

Our Seattle area’s temperate climate makes it a prime candidate for heat pump heating/cooling systems. Your actual savings and payback time will depend on the type of system you choose and the amount of energy you use. According to the US Department of Energy, an air source heat pump can reduce your electricity use for heating by about 50%, while the reduction range for a geothermal heat pump is anywhere from 30%-60%. If you’re also replacing an A/C unit, the savings will add up even faster. The average installed cost in 2020 is about $5,613 nationally but can vary quite a bit; it pays to do your research and make sure you’re choosing the right unit for your needs. Boosting your home’s overall efficiency first can also increase your savings by allowing you to choose a smaller, more affordable unit.

A feature of most modern green homes, smart thermostats save energy by automatically turning off the heating and A/C when you leave and learning your schedule to comfortably boost efficiency. Nest estimates an average yearly energy savings of 10-15% or $131-$145 with its Learning Thermostat, which means it would pay back its $200-$250 price tag in under 2 years. The ecobee4 is pricier at $300-$400 but claims to save 23% on heating and cooling (or more if you use their free eco+ upgrade). With heating and cooling making up a large chunk of your household energy use, smart thermostats could potentially take a nice chunk out of your carbon footprint as well.

Find a Home | Sell Your Home | Property Research

Neighborhoods | Market Reports | Our Team

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

2737 77^th Ave SE, Mercer Island, WA 98040 | (206) 232-0446

mercerisland@windermere.com

© Copyright 2020, Windermere Real Estate / Mercer Island

While buying and selling real estate was recently deemed essential in Washington State, the landscape looks very different than it did before the COVID-19 outbreak. Real estate offices remain closed to the public with agents (like my team) working remotely and hosting virtual client meetings. Important safety regulations prohibit in-person open houses and limit the number of people who can tour a home or attend an inspection. Social distancing will remain at the forefront as we wait for a vaccine or treatment to become widely available.

So how do you buy or sell a home safely in this new environment? Thanks to modern technology, there is a lot we can do to help you through the process while minimizing the risk to you and the community. Here are some tips on how to do it right…

TIPS FOR BUYERS

• Do your homework before you tour a home in person. Take a virtual online tour, research the neighborhood and ask your agent to delve into the property and title history. If a virtual tour isn’t available, your agent can give you a preview via FaceTime or Skype while walking through the home.
• Get pre-qualified. Knowing your exact budget in advance will help you save time and avoid any non-essential showings.
• Schedule a 1-hour showing window. When you think you’ve found “the one” and are ready to tour it in-person, have your agent book a full hour so that you are less likely to run into other buyers. This will also allow time for each person to see the home since there is currently a limit of just 2 people in the home at once, including the agent.
  
• Meet your agent at the home. Instead of carpooling, drive separately and then wait in your car until your agent confirms that the home is empty and ready to tour. Condos may have special rules for showings and you’ll also want to take separate elevator trips if you’re touring a high-rise.
  
• Play it safe during the tour. Wear a mask, wash/sanitize your hands when you enter and leave, limit touching of surfaces, and maintain at least 6 feet of social distance from your agent at all times. Assume you might be recorded by the homeowner and observed by neighbors.
• Meet virtually with your agent. When it’s time to write an offer, your agent can use any number of video conferencing apps to share documents with you and discuss them in real time. You can then sign and authenticate all contracts electronically via a secure service such as Authentisign.
• Don’t skip a professional home inspection. Due to the difficulties around seeing the home in person, it is more important than ever to make sure you know of any underlying issues it may have. The 2-person rule still applies at inspections so your agent will likely request the seller’s permission for you to be in the home alone with the inspector while the agent waits in the car. You’ll also need to make sure you and your inspector comply with all social distancing and safety rules.

TIPS FOR SELLERS

• Give your listing agent a virtual tour. Rather than meeting in person, utilize an app like FaceTime or Skype to virtually walk your agent through your home using your smart phone. Hold meetings virtually whenever possible and sign documents electronically through a secure service such as Authentisign.
  
• Move out first if at all possible. This makes it practical for buyers to comfortably view your home while following the current 2-person limit for home occupancy during showings. It also protects you from any potential exposure—especially important if you are in at at-risk age group and/or have health problems.
  
• Time the market with expert advice. Talk to an agent you can trust who follows the ins and outs of regulations from the Governor’s office and also has access to showing data and activity reports that can help you determine the best time to sell.
• Look your best online. Make sure your agent will coordinate truly stellar home preparation, staging and photography. Consider having a professional video tour and interactive floor plans as well.
  
• Have your agent hold a virtual open house. Live-streaming a virtual tour from inside the home is a great way for your agent to reach buyers and answer their questions in real time. Virtual open houses are also now promoted on virtually all home search websites and apps.
  
• Prepare diligently for in-person showings. Be sure that you or your agent provides hand sanitizer, single-use booties and masks along with a sign detailing the safety guidelines you would like visitors to follow while in your home. Open interior doors and turn on lights ahead of time to minimize touching. Disinfect high-use surfaces after each showing.

Find a Home | Sell Your Home | Property Research

Neighborhoods | Market Reports | Our Team

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

2737 77^th Ave SE, Mercer Island, WA 98040 | (206) 232-0446

mercerisland@windermere.com

© Copyright 2020, Windermere Real Estate / Mercer Island

As we are fully entrenched in a new normal amidst the COVID-19 pandemic, it is important to note that the Q1 stats you see are based on pre-coronavirus closed sales activity and therefore largely untouched by our current market reality.

While Q1 serves as a pre-coronavirus benchmark, Q2 and Q3 will more accurately show the impacts of the (necessary) stay home order and resulting economic fallout. Our region stands to rebound more quickly than many US markets due to its pre-coronavirus strength.

Q1 saw a continued inventory shortage, although many homes were just queuing up to come on the market prior to the outbreak. Mortgage interest rates hit new lows in March (down about 1% from a year ago) bringing the typical monthly payment down significantly. For reference, a 1% change in interest rate equates to about a 10% change in buying power (i.e. an $800,000 home at 3.4% costs about the same per month as a $720,000 home at 4.4% interest).

Click or scroll down to find your area report:

Seattle | Eastside | Mercer Island | Condos | Waterfront

SEATTLE

There were 11.2% more Seattle home sales in Q1 2020 (1,632) compared to Q1 2019 (1,468). Seattle’s median sale price increased by an average of 3.4% in 2019 to $750,000. Lake Forest Park (+8.0%) and Queen Anne-Magnolia (+7.0%) were the area’s top performers. The Central Seattle was down 6.9% over Q1 2019, much of which can be attributed to fewer luxury market sales and a higher percentage of smaller homes transacting during that period.

In Q1, 68.0% of Seattle homes (all price points) sold at or above their listed price, while only 13.7% of homes priced above $1 million did so. The average number of days to sell decreased to 41 from 50 in Q1 of the year prior.

The highest Seattle home sale was a 1930-built Lake Forest Park waterfront home for $5,000,000 and the lowest was a 1955-built 2-bedroom Skyway home for $215,000.

Click here to view the complete report for a neighborhood by neighborhood breakdown of Average Sale Price, size, and number of homes sold.

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EASTSIDE

In Q1, 64.6% of Eastside homes, and 28.6% of homes priced above one million dollars, sold for at or above their listed price.

The Eastside median sale price was $989,500 in Q1, up 6.8% over Q1 2019. South Eastside (+18.1%) and Kirkland (+14.1%) performed best, while Woodinville saw a 2.5% decrease in its median sale price. The highest sale was an $11.5 million Medina waterfront home and the lowest sale was a 1960’s Lake Margaret area cottage.

Click here for the full report and neighborhood-by-neighborhood statistics!

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MERCER ISLAND

Mercer Island has seen a record shortage of homes on the market in Q1 with the lack of homes for sale dominating conversations between buyers and their brokers. There were 56 home sales in the first quarter, with only 6 homes sold below $1 million and 19 with sale prices above $2 million.

In Q1, 48.2% of all homes, and 12.5% of homes priced above two million dollars, sold for at or above their listed price. The highest Mercer Island sale was a $4.8 million waterfront home on the north-eastern tip of the Island. The lowest was a $815,000 renovation/rebuild ready rambler on West Mercer Way.

Click here to view the complete report for a neighborhood by neighborhood breakdown of Average Sale Price, size, and number of homes sold.

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CONDOS – SEATTLE & EASTSIDE

Seattle’s condo median sale price was the same in Q1 2020 as in Q 1 2019 ($460,000) with 605 units transacting. The North Seattle (+28.3%) and Richmond Beach-Shoreline (+18.4%) outperformed the region while West Seattle condos were down 5.0% over Q1 of the prior year. In Q1, 53.7% of Seattle condos (all prices), and 3.1% of condos priced above one million dollars, sold for at or above their listed price.

On the Eastside, the median sale price was up 6.5% to $490,000. Woodinville (+21.4%) and Redmond (+17.2%) condos outpaced those in surrounding cities while East Bellevue condos sold for 23.2% less than in Q1 2019. There were 528 units sold on the Eastside this quarter.

In Q1, 67.4% of all Eastside condos, and 4.2% of those priced above one million dollars, sold for at or above their listed price.

Check out all of these factoids and more in the full condo report.

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WATERFRONT

The pace of waterfront transactions has been slowing over the past few quarters, driven in large part by fewer international buyers in the market. Even so, Q1 was markedly off for waterfront sales. The Eastside had 3 private waterfront home sales. Seattle had 8, Mercer Island had 2, and Lake Sammamish had no sales in the first three months on 2020.

The highest private waterfront sale in Q1 was on Lake Washington in Medina at $11.5 million. The most affordable waterfront sale was a $1.5 million Beach Drive West Seattle home with 22 feet of waterfront on Puget Sound. Note this report includes privately-owned, rather than shared, waterfront transactions only.

This top-level overview of the entire Seattle-Eastside private waterfront market, including Mercer Island and Lake Sammamish, provides a glance into the trends occurring in our region over time. Interesting, and certainly insightful, it in no way replaces an in-depth analysis on waterfront value provided by a savvy broker with years of local waterfront experience.

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Find a Home | Sell Your Home | Property Research

Neighborhoods | Market Reports | Our Team

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

2737 77^th Ave SE, Mercer Island, WA 98040 | (206) 232-0446 mercerisland@windermere.com

© Copyright 2020, Windermere Real Estate/Mercer Island. Information and statistics derived from Northwest Multiple Listing Service and deemed accurate but not guaranteed.

As we all hunker down through these challenging times, it is comforting to remember that there will be light at the end of the tunnel.

A voice of calm and reason in this time of uncertainty has been our Windermere Chief Economist, Matthew Gardner. While he is expecting an economic slowdown accompanied by a temporary 15-20% reduction in the number of homes sold, he believes the housing market will bounce back once we find our new normal.

Click here to watch his latest videos, or scroll down for some key takeaways…

The US economy will contract sharply but should perk up by Q4.

We’re in for a rough few quarters as the economy enters a recession. Just how rough—and how long—is still under debate. What economists do agree on is that the 4th quarter is looking remarkably positive…assuming we get through the COVID-19 crisis and the economy can resume somewhat normal activity before the fall.

Housing prices will likely remain stable.

Seattle home prices should remain steady—or even rise slowly as we come out of the recession—for a few reasons:

1. DIVERSE INDUSTRIES IN OUR AREA which allow us to better weather the economic storm.
2. SOLID FINANCIAL FOOTING as one third of local home owners have 50% or greater equity in their homes.
3. STRONG DEMAND with more buyers than homes available, as well as rock-bottom interest rates.

This will be different than 2008…

We’re experiencing a health crisis, not a housing crisis.

1. WE’LL SEE A PAUSE, NOT A COLLAPSE. Unlike last time, the housing market was strong going into this crisis and should rebound quickly. Why? Because this recession will be due to specific external factors rather than any fundamental problem with the housing market.
2. FORECLOSURES WILL BE FEWER with most lenders offering relief to homeowners in distress due to temporary employment issues. Unlike 2008’s mortgage crisis caused by lax lending standards and low down payments, today’s home owners are better qualified and have more equity in their homes.

Find a Home | Sell Your Home | Property Research

Neighborhoods | Market Reports | Our Team

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

2737 77^th Ave SE, Mercer Island, WA 98040 | (206) 232-0446

mercerisland@windermere.com

© Copyright 2020, Windermere Real Estate / Mercer Island

Make Working From Home Work for You…

• 5 Small Things You Can Do to Improve Your Home Office
• WRE’s “Work from Home” Spotify playlist
• Working remote tips from Time Magazine
• Staying productive during the coronavirus while managing stress/anxiety/fear
• Making the perfect office to work from home

Kids at Home?

• Information about how to talk to littler kids about the coronavirus.
• Some essential steps to take to protect children from getting sick (mostly common sense stuff)
• 50 boredom busters
• Some great virtual tour links to visit various Louvre exhibits + the Tokyo National Museum, the Guggenheim Museum, and the Smithsonian Museum of Natural History.
• Activities, educational videos, and games from the San Diego Zoo
• Take a virtual visit to a national park, including the Clara Burton in Maryland, the Hot Spring National Park, the island of St. John in the Virgin Islands, and more!
• Explore Mars and meet the Curiosity Rover in an interactive experiences, videos and animations, raw images, and more!
• Check out the Cherry Blossoms at the University of Washington virtually!
• Take a cooking class with your kids from Better Homes and Gardens or through BBC! MilkStreet is also offering free cooking classes through the end of April.
• Enjoy a trial to the BroadwayHD.com site and watch Broadway online!
• Learn guitar from Fender during your time inside!
• The Seahawks Weekly Challenge kicked off this week by Coach Pete Carrol!

Bring Your Favorite Restaurants Home

• The Seattle Time’s guide to Seattle & Eastside restaurants offering takeout and/or delivery
• Eater’s neighborhood-by-neighborhood breakdown of restaurants for Seattle
• Takeout and delivery deals compiled by Seattle Metropolitan Magazine
• In-city deals compiled by The Stranger

Feeling Vulnerable?

Here Are Stores Offering Special Hours for Seniors and the Immunocompromised…

• Albertsons: Tuesdays and Thursdays from 7-9 a.m.
• Costco: Tuesdays and Thursdays from 8-9 a.m. (must have a membership)
• Fred Meyer: Monday through Thursday from 7-8 a.m.
• Metropolitan Market: Daily from 7-8 a.m.
• PCC: Daily from 7-8 a.m.
• QFC: Monday through Thursday from 7-9 a.m.
• Red Apple: Tuesday and Thursday from 7-9 a.m.
• Rite Aid: Mondays from 8-10 a.m.
• Safeway: Tuesdays and Thursdays from 7-9 a.m.
• Target: The first hour of Tuesdays and Wednesdays. Check Target’s website for specific opening hours at locations throughout the Greater Seattle area.
• Thiftway: Tuesdays and Thursdays from 7-9 a.m.
• Town & Country Markets: Monday and Wednesday, 7-9 a.m.
• Trader Joe’s: Daily from 9-10 a.m.
• Uwajimaya: Daily, 8-9 a.m. in Seattle; all other locations on Tuesdays from 8-9 a.m.
• Walgreens: Tuesdays from 8-9 a.m.
• Walmart: Tuesdays from 6-7 a.m.
• Whole Foods: Daily, one hour before the store opens to the public. Check Whole Foods’ website for specific opening hours at locations throughout the Greater Seattle area.

More Resources…

• General COVID-19 info for Washington State
• Government Support for Washington State
• Mortgage Relief Fact Sheet

Find a Home | Sell Your Home | Property Research

Neighborhoods | Market Reports | Our Team

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

2737 77^th Ave SE, Mercer Island, WA 98040 | (206) 232-0446

mercerisland@windermere.com

© Copyright 2020, Windermere Real Estate / Mercer Island

With 2020 now in full swing, we’re seeing some clear shifts in how homes are being designed and decorated. Most notable for our area is the Modern Farmhouse trend with its juxtapositions of old & new, light & dark, and clean & rustic. Softer grey and lagom neutrals are here to stay, but are now being contrasted with deep hues and warm metals. Organic materials such as natural wood and potted plants are also gaining prominence. Here are some key trends to consider as you refresh or renovate…

Deep blue is the “it” color in home decor, with Pantone’s “Classic Blue” and Sherwin-Williams’ “Naval” each taking color of the year honors. Navy accent walls are gaining popularity in smaller spaces such as foyers, dining rooms and powder rooms. Black is also back as an accent set against white in kitchens, living rooms and bathrooms. High-contrast graphics are making an appearance on wallpaper and bathroom tile.

Whether it’s antique artwork, floral wallpaper or vintage tile, old world charm is making a comeback…with a twist. This time around we’re seeing vintage framed art, patterns, woods and statement pieces being incorporated into modern spaces with clean lines. The Modern Farmhouse epitomizes this trend with its fresh new take on the old.

The all-white kitchen is making room for grey and painted cabinets to take the stage. For the daring, “color pop” cabinets in deep blue, black or even red have been cropping up in the modern kitchen. Kitchens that do have white cabinets are being spiced up with decorative tile floors and backsplashes, along with darker wood shelving and contrasting light fixtures.

Soft shearling, rustic leathers and fluffy textured mohairs are gradually replacing the luxe velvet we saw in years past. High performance outdoor-style fabrics have also gotten an upgrade and are appearing indoors on upholstered dining room chairs and couches. Cushy wing-backed dining benches and chairs are another notable trend, part of an emphasis on making dining rooms less formal and more comfortable. Another fun trend? Curved sofas for the dining room and kitchen.

Matte brass continues its popularity in fixtures and frames, often mixed with silver metals. We’re seeing an infusion of aged wood accents, patina, rustic leathers and earthenware softening the clean lines of today’s minimalism. Potted plants are also popping up on shelves and in windows with olive trees usurping fig trees as a favorite statement piece.

Need an instant home update? Try adding throw pillows, blankets or artwork in hues from Pantone’s Spring/Summer 2020 color palette.

Find a Home | Sell Your Home | Property Research

Neighborhoods | Market Reports | Our Team

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

2737 77^th Ave SE, Mercer Island, WA 98040 | (206) 232-0446

mercerisland@windermere.com

© Copyright 2020, Windermere Real Estate / Mercer Island

Every year, Remodeling Magazine evaluates which projects bring the most return at resale in different markets around the country in their “Cost vs. Value” report. While returns have dipped nationwide due to growing costs and consumer anxiety, Seattle still saw better pay-off on remodeling than the national average. The chart below shows cost vs. value on the most common remodeling projects…

When looking at the full list of projects, curb appeal projects seem to bring the most bang for your buck.

According to Remodeling Magazine, these are the six top projects in our region that currently have the best return on your investment when it comes time to sell. To see the full report, click here.

Manufactured Stone Veneer

As long as the new stone veneer is consistent with your neighborhood’s overall look, this siding accent was rated the most profitable project in the Seattle area.

Stone veneer can replace your home’s existing siding, adding a fresh, modern look that conjures a cozy vibe all the way from the street, before buyers ever step foot inside. In Seattle it can recoup 118.5 percent of the cost when you sell.

Garage Door Replacement

In the Seattle area, replacing your garage door will cost an average $3,882, but will increase your resale value by $4,136, recouping 106.6 percent of what you paid for it.

Due to its size, a garage door can have a big impact on a home’s curb appeal. But adding to your home’s aesthetic is only one advantage; the warranty that comes with the new garage door is also a selling point for potential buyers who can trust that they likely won’t have to deal with any maintenance issues in the near term.

Wood Deck Addition

While building a deck might seem like a big undertaking, it’s actually a pretty cost-effective way to add to your enjoyment and positively impact your home’s resale value. Seattle-area homeowners can expect to pay about $19,000, but they’ll recoup 95.1 percent of that when they sell.

Adding a deck extends the living space of your home and provides even more area for entertaining, relaxing, and enjoying the outdoors. Whether you choose a natural wood deck or a low-maintenance composite deck, you can pick from a variety of styles based on the lay of your land and the areas of your backyard you wish to highlight.

Siding Replacement

Depending on the size of your home, replacing the siding can be an expensive undertaking. However, it’s a project that comes with high returns. For the Seattle area, sellers can expect 94.9 percent of the costs recouped.

Not only is siding one of the first things a buyer sees, but it also serves as an indicator of the overall health of the home. Broken or damaged siding could mean that there are other problems with the home, such as pests and rot. Replacing old siding is a cost-effective way to boost your home’s curb appeal and ensure buyers are going to walk through your front door.

New Vinyl Windows

Vinyl windows can add an instant update in both appearance and energy efficiency. The average cost to replace 10 windows is about $19,501 but you’ll recoup 89.5 percent of that cost when it’s time to sell. If any of your windows are fogged from broken seals then replacement will probably be a must before it’s time to sell.

Minor Kitchen Remodel

No need to move walls or appliances around, a minor kitchen remodel will do the trick to recoup 89.1 percent of the cost in our area.

An outdated kitchen can go from drab to fab and become a focal point with a fresh palette. Replace the cabinet doors with new shaker-style wood panels and metal or metal-looking hardware. Switch out the old counter tops with a cost-efficient option that matches the new look. Think about adding a resilient flooring option, then finish the project with a fresh coat of paint to the walls, trim, and ceiling.

ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2020, Windermere Real Estate/Mercer Island. Adapted from an article originally posted on Windermere.com. Remodeling data © 2020 Hanley Wood Media Inc. Complete data from the Remodeling 2020 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.

A strong local employment sector, very low mortgage interest rates, and the most balanced market we’ve seen in two decades each contributed to increased sales velocity in 2019.

While the number of homes for sale increased overall in 2019 as compared to 2018, the higher rate of sales throughout the year resulted in nearly a third fewer homes on the market at year-end in 2019 than at the end of 2018. The inventory of homes available to purchase in 2020 will be a dominating factor in the local real estate market in the coming year.

Click or scroll down to find your area report:

Seattle | Eastside | Mercer Island | Condos | Waterfront

SEATTLE

There were 9.6% more Seattle home sales in 2019 (a total of 8,362), bringing Seattle back to its typical annual sales velocity following an off year in 2018. Seattle’s median sale price softened by 3.9% in 2019, with the Central Seattle region performing best (-1.6%) and the Ballard-Green Lake region down the most (-4.6%). In the north end of Seattle, Lake Forest Park-Kenmore and Richmond Beach-Shoreline showed the strongest five-year growth trend at 47.1% and 45.5% respectively.

In 2019, 53.9% of all Seattle homes sold at or above their listed price. The average number of days to sell jumped notably to 36 from 22 the year prior, indicating movement towards a more balanced market. The upper price segments of the market were far less competitive with just 10.4% of homes sold above one million dollars transacting at or above their list price.

The highest Seattle home sale was in Washington Park (Central Seattle) for $13,750,000 and the lowest was a Lake Union houseboat for $80,000.

Click here to view the complete report for a neighborhood by neighborhood breakdown of Average Sale Price, size, and number of homes sold.

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EASTSIDE

On the Eastside, neighborhoods central to core employment hubs continue to see older, more affordable housing stock replaced with new and more expensive development. On the periphery, reasonably priced homes are highly competitive as homebuyers and investors alike scramble for homes that offer greater appreciation potential.

Development in East Bellevue, particularly surrounding the Spring District, is predicted to significantly drive prices upward in the coming years as employment centers expand and light rail service to Seattle begins.

In 2019, 49.7% of all homes, and 18.8% of homes priced above one million dollars, sold for at or above their listed price.

Median sale prices in Eastside cities fared better than those in Seattle, with the overall Eastside median sale price down 1.0% from 2018. Kirkland performed best on the Eastside with a median sale price gain of 3.8% to $1,350,000. Looking at the five-year trend, Kirkland came in on top with a 67.1% increase in its median sale price over the past five years, followed by Juanita-Woodinville-Duvall at 48.0%, and East Bellevue at 44.5%.

Click here for the full report and neighborhood-by-neighborhood statistics!

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MERCER ISLAND

Mercer Island, central to the Seattle-Eastside region, held the middle ground with prices softening slightly—not as much as in Seattle, but more than on the Eastside.

A total of 299 homes changed hands in 2019 according to Northwest Multiple Listing Service. The highest Mercer Island sale was a $10,050,000 waterfront home on the North End. The lowest was a $685,000 renovation/rebuild ready rambler on West Mercer Way.

In 2019, 39.8% of all homes, and 12.7% of homes priced above two million dollars, sold for at or above their listed price.

Well-priced homes in move-in ready condition, with good lighting and access, and with functional floor plans, command the most attention from market-savvy buyers hoping to make a good investment in the place they will call home.

Click here to view the complete report for a neighborhood by neighborhood breakdown of Average Sale Price, size, and number of homes sold.

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CONDOS – SEATTLE & EASTSIDE

The Seattle and Eastside condo markets could not be more different. Seattle has seen the number of available units increase significantly while the Eastside has suffered from a lack of inventory.

Seattle’s overall condo median sale price declined by 9.3% in 2019 to $458,500. The Ballard-Green Lake market was down the most (-16.4%) while Lake Forest Park-Kenmore was the only market not in the red (up 3.3%). In 2019, 45.9% of all Seattle condos, and 2.9% of condos priced above one million dollars, sold for at or above their listed price.

On the Eastside, the median sale price was down 2.4% overall to $469,000. The communities south of I-90 did quite well with a 9.0% increase over 2018. Redmond fared worst with a 15.3% decline in its median sale price. In 2019, 49.3% of all Eastside condos, and 2.7% of condos priced above one million dollars, sold for at or above their listed price.

Check out all of these factoids and more in the full condo report.

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WATERFRONT

The Eastside had 42 private waterfront home sales in 2019. Seattle had 41, Mercer Island had 20, and Lake Sammamish had 31 sales during the same period.

The highest Eastside—and regional—private waterfront sale of 2019 was on Hunts Point for $37,500,000. The highest 2019 sales in the surrounding areas include a Washington Park (Seattle) home at $13,750.000, a north end Mercer Island property at $10,050,000, and a $5,750,000 home on the west side of Lake Sammamish.

This top-level overview of the entire Seattle-Eastside private waterfront market, including Mercer Island and Lake Sammamish, provides a glance into the trends occurring in our region over time. Interesting, and certainly insightful, it in no way replaces an in-depth analysis on waterfront value provided by a savvy broker with years of local waterfront experience.

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ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2020, Windermere Real Estate/Mercer Island. Information and statistics derived from Northwest Multiple Listing Service and deemed accurate but not guaranteed.

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Our Northwest holidays may be wet, but they’re still bright! Make the most of the season with Seattle favorites—such as dazzling light displays and the Parade of Boats—along with newer additions like the “Enchant” event with light mazes and ice skating inside T Mobile Park. Scroll down for all the details…

WildLights at Woodland Park Zoo

West Entrance: 5500 Phinney Ave. N, Seattle, WA 98103
South Entrance: 750 N 50th St, Seattle, WA 98103
www.zoo.org/zoolights
click here to get tickets

• Dates/Times: Open nightly 11/29/19 – 1/5/20 | 5:30 – 8:30 pm
• Cost: $10.95 – $16.95 per person (ages 2 and under are free)
• Promotions: Get a 10% group discount on WildLights tickets for groups of 20+. Zoo members get 20% off adult tickets.
  
• Parking: Free parking is available at all lots after 4:30 pm (admission at both gates)
• Food: Refreshments are available at the pizza trailer on the North Meadow, and at Gather and Graze (with covered seating provided). You are also welcome to bring your own food and non-alcoholic beverages.
• Special activities: Carousel, fire pits, select indoor animal exhibits, ZooStore, & indoor snowball fights at the Snowmazium
• Closures: December 2, 3, 9, 10, 24 & 25, 2019

Image courtesy of https://zoo.org/zoolights

Winterfest at Seattle Center

305 Harrison Street, Seattle, WA 98109
www.seattlecenter.com/winterfest

Map

• Dates/Times: Winter train & village open daily 11/29/19 – 12/31/19 | 10 am – 6 pm
  Winterfest Ice Rink open 11/29/19 – 1/5/20, Sun-Thu from 11 am – 8 pm, Fri-Sat from 11 am – 10 pm, New Year’s Eve Celebration 12/31/19 from 8pm to midnight
  
• Cost: Free for all ages (ice skating is $2 – $8 including rental)
• Parking: Paid parking available at the Mercer Garage, 5th Ave N Garage, and Theatre Commons Lot. Click here for the campus map
• Food: A multitude of dining options await you in the Armory
• Special events: Ice skating at the Winterfest Ice Rink, ice sculpting, caroling, the Winter Train & Village, New Year’s Eve Celebration and more!
• Holiday Closure: 12/25

Enchant at T-Mobile Park

1250 1st Ave S, Seattle, WA 98134
https://enchantchristmas.com/seattle/
click here to get tickets

• Dates/Times: 11/22/19 – 12/29/19 | 4pm to 11pm Fri-Sun, 4pm to 10pm weekdays until 12/12, then 4pm to 11pm every day 12/13-19 – 12/29/19
  
• Cost: $19.99 – $32.99 per person (ages 3 and under are free) | VIP passes with dinner starting at $74.99 for adults
  
• Promotions: Discount on final 2 hours of any day | 20% off with a 4-ticket family pack
  
• Parking: $8 – $60 at Safeco Field Garages or check out the city’s Interactive Parking Map
• Food: Seasonal food and treat concessions throughout
  
• Activities: Ice skating trail, light maze, visits with Santa, gift market
  
• Closures: 11/25/19 – 11/28/29, 12/2/19

Image courtesy of enchantchristmas.com

Garden d’Lights at Bellevue Botanical Garden

12001 Main Street, Bellevue WA 98005
http://gardendlights.org
click here to get tickets

• Dates/Times: Open nightly 11/30/19 – 12/31/19 | 4:30 – 9:00 pm
• Cost: $5 per person (ages 10 and under are free)
• Parking: Premium parking is $5 per car in the Garden’s lot (cash only) as space allows OR park for free at Wilburton Hill Park
• Food: Hot drinks and snacks are available at the Aaron Education Center
• Activities: Gingerbread village, live music
• Holiday Closures: None

Photo courtesy of gardendlights.org

Snowflake Lane at the Bellevue Collection

Bellevue Way & NE 8th Street, Bellevue WA 98004
http://snowflakelane.com/

• Dates/Times: Nightly 11/29/19 – 12/24/19 | 20 minute show starts at 7 pm
• Cost: Free for all ages
• Parking: Free parking at Bellevue Square, Bellevue Place and Lincoln Square
• Food: A variety of dining options (from happy hour, to kid fare, to gourmet meal) are all within walking distance
• Special Events & Activities: Ice Skating, Santa Parade & Tree Lighting, Santa Photos

Image courtesy of http://bellevue.com/snowflake-lane

Christmas Ship Festival

Launch locations include Lake Union Park, Kirkland City Dock, Hyatt Regency Lake Washington, Des Moines Marina, Port of Poulsbo, Seattle Waterfront – Pier 55, Tacoma (Dock Street Marina), Edmonds, and Shilshole Bay Marina

www.argosycruises.com
click here to get tickets

• Dates/Times: Click here for the full schedule
• Cost: $29 – $68 per person (kids 3 and under are free)
• Parking: Varies by location – click here for details
• Food: While dining ahead of time is recommended, there are snacks and drinks available for purchase on the ship. You can also pre-order FaresStart Catering boxed meals, snacks and Ivar’s clam chowder (with vegetarian and gluten-free options) at least 72 hours prior to your cruise. Outside food/drinks are not allowed.
• Special Events: Parade of Boats Night, Kid Cruise, Grand Finale Night

Ivar’s Clam Lights at Gene Coulon Memorial Beach Park

1201 Lake Washington Blvd N, Renton, WA 98056
https://rentonwa.gov/clamlights

• Dates/Times: Open nightly 12/6/19 – 1/1/20 | 5 – 9 pm
• Cost: Free for all ages
• Parking: Park for free at the Gene Coulon Memorial Beach Park parking lot
• Kickoff Event on Friday, December 6th at 5:30pm: Official lighting ceremony, photo op with Santa & Mrs. Claus in their sleigh, and more!
  
• Holiday Closures: None

Image courtesy of https://rentonwa.gov/clamlights

Westlake Center Tree Lighting & Holiday Activities

400 Pine St., Seattle, WA 98101 (Westlake Park)
https://redtri.com/guides/downtown-seattle-heart-of-the-holidays-seattle-wa-hg2019/

• Dates/Times: Tree lighting ceremony (with snow and fireworks) on 11/29/19, time TBD. Holiday market Fri-Sun beginning 11/29 through 12/22. Carousel and other festive attractions run 11/29 through January 1st, 2020
  
• Cost: Free for all ages
• Parking: Access the Republic Parking garage from Olive Way between 4th & 5th Ave, or check out this interactive map of city parking
  
• Activities: Carousel, Holiday Market at Westlake Park

Image courtesy of http://redtri.com

Zoolights at Point Defiance Zoo & Aquarium

5400 N Pearl St, Tacoma, WA 98407
www.pdza.org/event/zoolights
click here to get tickets

• Dates/Times: Open nightly 11/29/2019 – 1/5/2020 | 5 – 9 pm
  
• Cost: $11-$13 (free for kids 2 & under)
  
• Promotions: Discounted tickets for zoo members; Military discount nights Dec. 2, 4, 9, 11, 14 & 18
  
• Parking: Free parking in zoo lots (carpooling recommended)
  
• Food: Make your own s’mores at the cafe deck firepits, or grab hot cocoa, dinner, snacks & 21+ beverages from the Plaza Cafe, Pearl St Grille & food stands
  
• Activities: Carousel, aquarium, Kids’ Zone with meerkats & goat feeding
  
• Holiday Closure: 12/24

Image courtesy of https://www.pdza.org

But wait, there’s more…

Holiday theatrical & musical shows

The Polar Express train ride at Mt. Rainier Railroad

Gingerbread Village at the Sheraton Grand Seattle

Leavenworth Lighting Festival & Snow Bus Tour

ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2019, Windermere Real Estate/Mercer Island.

Looking to share your bounty this holiday season? Below are some of our favorite Seattle-area organizations who can use your time, household items, toys, and more to help improve the lives of homeless and low-income families in our area. You might also check out these tips on how to make the most of charitable giving. Won’t you join us in making this holiday season just a little better for everyone?

Each night in King County, almost 1,100 unaccompanied youth and young adults are homeless. Why? A national study found that over 90% of homeless youth reported family conflict and 1/4 suffered from abuse and neglect before they reached the streets. YouthCare builds confidence and self-sufficiency for homeless youth by providing a continuum of care that includes outreach, basic services, emergency shelter, housing, counseling, education, and employment training. Lend a hand by volunteering, hosting a drive for the most needed items, or hiring a YouthCare graduate.

http://youthcare.org/
(206) 694-4500
2500 NE 54^th Street, Seattle

Northwest Harvest’s mission is to end hunger in Washington. They partner with 375 food pantries, meal programs, and high-need schools across the state to provide nutritious food and promote good health for those in need. You can help by volunteering at the Cherry Street Food Bank in Seattle (children in 3rd grade or older are welcome to volunteer with you!). You can also host a virtual food drive or make a cash/vehicle donation.

http://www.northwestharvest.org/
1 (800) 722-6924
SODO Community Market Food Bank: 1915 4th Ave S, Seattle
Kent Warehouse: 22220 68th Ave S, Kent

Mary’s Place helps homeless women, children and families from the greater King County area. With a list of families that has double this year, the need for help is higher than ever. You might consider attending the “Season of Giving” benefit concert on November 22nd, with proceeds going toward the “No Child Sleeps Outside” campaign. You can also volunteer your time, donate wishlist items, or share your used clothing, blankets, and coats.

http://www.marysplaceseattle.org
(206) 621-8474
Donation Center in SODO: 9 South Nevada St, Seattle
Family Center in North Seattle: 1155 N 130th St, Seattle

Hopelink provides critical services to homeless and low-income families, children, seniors, and people with disabilities on north and east King County. You can help by donating food or grocery gift cards to their food bank, contributing unwrapped toys to their holiday gift room, or volunteering to help with their holiday giving events.

https://www.hopelink.org/
(425) 869-6000
8990 154th Ave NE, Redmond

Did you know less than 50% of Washington state youth in foster care graduate from high school? Treehouse seeks to level the playing field by providing academic and other essential support foster kids need to graduate at the same rate as their peers, with a plan for their future. You can help by hosting a holiday drive, volunteering, or donating to their holiday program.

https://www.treehouseforkids.org/
(206) 767-7000
2100 24th Avenue S./Suite 200

With a mission to help people in need of immediate food assistance, the Emergency Feeding Program partners with 240 local agencies to distribute 50,000 bags of quality, nutritional food and ensure that no one will go hungry tonight. You can help by volunteering or making a cash contribution.

https://www.emergencyfeeding.org/
(425) 277-0300
851 Houser Way N, Renton

Eastside Baby Corner was founded by a local pediatric nurse concerned about the large numbers of babies in her practice who began life without basic essentials like adequate food, clothing, beds, or safety equipment. Today Eastside Baby Corner’s location in Issaquah, Northshore and Bremerton collect, purchase, and distribute essential care items such as formula, diapers, carseats, warm coats, school supplies, and more for babies and children in need. You can help out by volunteering, donating goods, or organizing a drive.

Eastside Baby Corner:
http://babycorner.org
(425) 865-0234
1510 NW Maple St, Issaquah

Since 1947, The U.S. Marine Corps Toys for Tots program has distributed 548 million toys to 251 million children in need. Consider helping out this year by donating a new toy, volunteering, or asking your organization to become a toy drop site.

https://fort-lewis-wa.toysfortots.org
Click Here for Toy Drop Off Locations
Coordinator: Gunnery Sergeant James Wells, (253) 720-9858

Every year, nearly 40% of our country’s food ends up in landfills, while millions go hungry. Food Lifeline attempts to solve both problems by rescuing millions of pounds of surplus food from farmers, manufacturers, grocery stores, and restaurants. They then deliver this healthy and nutritious food to more than 300 food banks, shelters and meal programs across Western Washington–providing the equivalent of 116,000 meals every day for hungry children, adults and seniors. You can help by volunteering (opportunities are available for kids as young as 6, too!), donating funds or hosting a food drive.

https://foodlifeline.org/
(206) 545-6600
815 S 96th St, Seattle

Wellspring helps low-income and vulnerable individuals, children and families in Seattle and King County address issues such as mental health, family homelessness, early learning, basic needs, and domestic violence intervention. Each year they help thousands of children and families break cycles of instability, homelessness, and adversity to achieve positive, permanent change. You can help by donating to their Giving Together holiday campaign or getting your children involved in the Kids Helping Kids youth philanthropy program.

http://wellspringfs.org/
(206) 826-3050
1900 Rainier Avenue South, Seattle

Founded and run by a group of philanthropic women over 100 years ago, Seattle Children’s mission is to provide hope, care and cures to help every child live the healthiest and most fulfilling life possible. You can help their patients by donating a new toy or gift card, volunteering, contributing funds, or supporting one of its guilds (such as the Project Kids Cancer Cure Guild).

http://www.seattlechildrens.org
(206) 987-2000
4800 Sand Point Way NE, Seattle

ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2019, Windermere Real Estate/Mercer Island.