Quarterly Market Trends February 10, 2018

South King County Market Trends

Price growth was particularly strong in 2017! Median was up 13% and average price up 12% over 2016. Median price in 2017 landed at $405,000 and the average at $440,000. The average amount of days it took to sell a house in 2017 was 30 days which is 9% faster than 2016. The average list-to-sale price ratio over the last year was 100%, with the spring months as high as 102%! In 2017, inventory growth continued to be a challenge, with a 7% decrease in new listings compared to 2016. Even with inventory limitations there were 2% more sales! This phenomenon illustrates strong buyer demand and a need for more listings.

South King County real estate has seen a steady stream of buyers come our way due to affordability, reasonable commute times and quality of life. In fact, the median price in 2017 was 75% higher in Seattle Metro. Historically low interest rates continue to drive the market as well, they have helped offset the increase in prices. Sellers are enjoying great returns due to this phenomenon and buyers are securing mortgages with minor debt service.

This is only a snapshot of the trends in south King County; please contact me if you would like further explanation of how the latest trends relate to you.

Quarterly Market Trends February 10, 2018

Eastside Quarterly Market Trends

Price growth was particularly strong in 2017! Median was up 15% and average price up 16% over 2016. Median price in 2017 landed at $865,000 and the average at $1,049,000. The average amount of days it took to sell a house in 2017 was 24 days, which is 17% faster than 2016. The average list-to-sale price ratio over the last year was 101%, with the spring months as high as 103%! In 2017, inventory growth continued to be a challenge, with a 4% decrease in new listings compared to 2016. Even with inventory limitations there were a near equal amount of sales! This phenomenon illustrates strong buyer demand and a need for more listings.

Demand for Eastside real estate has grown due to close proximity to job centers, great schools and quality of life. Over the last year, the Eastside was 70% more expensive than south Snohomish County and 22% over Seattle Metro. Historically low interest rates continue to drive the market as well, they have helped offset the increase in prices. Sellers are enjoying great returns due to this phenomenon and buyers are securing mortgages with minor debt service.

This is only a snapshot of the trends on the Eastside area; please contact me if you would like further explanation of how the latest trends relate to you.

Quarterly Market Trends February 10, 2018

Seattle Metro Quarterly Market Trends

Price growth was particularly strong in 2017! Median was up 15% and average price up 14% over 2016. Median price in 2017 landed at $710,000 and the average at $801,000. The average amount of days it took to sell a house in 2017 was 18 days, which is 10% faster than 2016. The average list-to-sale price ratio over the last year was 103%, with the spring months as high as 106%! In 2017, inventory growth continued to be a challenge, with a 3% decrease in new listings compared to 2016. Even with inventory limitations there were 4% more sales! This phenomenon illustrates strong buyer demand and a need for more listings.

Demand for Seattle Metro area real estate has grown due to close proximity to job centers. Over the last year, Seattle Metro was 40% more expensive than south Snohomish County and 75% over south King County. Historically low interest rates continue to drive the market as well, they have helped offset the increase in prices. Sellers are enjoying great returns due to this phenomenon and buyers are securing mortgages with minor debt service.

This is only a snapshot of the trends in the Seattle Metro area; please contact me if you would like further explanation of how the latest trends relate to you.

Quarterly Market Trends February 10, 2018

North King County Quarterly Market Trends

Price growth was particularly strong in 2017! Median and average prices were up 14% over 2016. Median price in 2017 landed at $715,000 and the average at $787,000. The average amount of days it took to sell a house in 2017 was 17 days, which is 19% faster than 2016. The average list-to-sale price ratio over the last year was 104%, with the spring months as high as 107%! In 2017, inventory growth continued to be a challenge, with a 4% decrease in new listings compared to 2016. Even with inventory limitations there were a near equal amount sales! This phenomenon illustrates strong buyer demand and a need for more listings.

Demand for north King County real estate has grown due to close proximity to job centers while maintaining a neighborhood feel. Over the last year, north King County was 41% more expensive than south Snohomish County and 77% over south King County. Historically low interest rates continue to drive the market as well, they have helped offset the increase in prices. Sellers are enjoying great returns due to this phenomenon and buyers are securing mortgages with minor debt service.

 

This is only a snapshot of the trends in north King County; please contact me if you would like further explanation of how the latest trends relate to you.

Quarterly Market Trends February 10, 2018

South Snohomish County Quarterly Market Trends

Price growth was particularly strong in 2017! Median was up 14% and average price up 12% over 2016. Median price in 2017 landed at $508,000 and the average at $543,000. The average amount of days it took to sell a house in 2017 was 24 days, which is 17% faster than 2016. The average list-to-sale price ratio over the last year was 101%, with the spring months as high as 103%! In 2017, inventory growth continued to be a challenge, with a 1% decrease in new listings compared to 2016. Even with inventory limitations there were 4% more sales! This phenomenon illustrates strong buyer demand and a need for more listings.

South Snohomish County real estate has seen a steady stream of buyers come our way due to affordability, reasonable commute times to job centers and quality of life. In fact, the median price in 2017 was 41% higher in north King County. Historically low interest rates continue to drive the market as well, they have helped offset the increase in prices. Sellers are enjoying great returns due to this phenomenon and buyers are securing mortgages with minor debt service.

This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

Quarterly Market Trends February 10, 2018

North Snohomish County Quarterly Market Trends

Price growth was particularly strong in 2017! Median and average prices were up 13% over 2016. Median price in 2017 landed at $371,000 and the average at $400,000. The average amount of days it took to sell a house in 2017 was 35 days, which is 10% faster than 2016. The average list-to-sale price ratio over the last year was 99%, with the spring months as high as 101%! In 2017, inventory growth continued to be a challenge, with an 8% decrease in new listings compared to 2016. Even with inventory limitations there were 3% more sales! This phenomenon illustrates strong buyer demand and a need for more listings.

North Snohomish County real estate has seen a steady stream of buyers come our way due to affordability and quality of life. In fact, the median price in 2017 was 37% higher in south Snohomish County. Historically low interest rates continue to drive the market as well, they have helped offset the increase in prices. Sellers are enjoying great returns due to this phenomenon and buyers are securing mortgages with minor debt service.

This is only a snapshot of the trends in north Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

Shoreline May 18, 2017

Your Go-To Shoreline Guide for Getting Out & About (Dining, Grocery Shopping, & Parks!)

With warmer weather on the way, it’s time to get out of the house and out on the town!

Here is your guide to the best dining, grocery shopping, and park destinations in Shoreline:


DINING OUT in SHORELINE

Ridgecrest Public House

  • Located at 520 NE 165th Street | Shoreline WA 98155
  • Hours: 4pm-midnight daily

Featuring 17 beers and 3 ciders, Ridgecrest is the place to be for a laid-back dinner and hangout with friends! They also host food trucks each evening from 5-9pm—take a look at their schedule here. “The Ridgecrest Public House is a great place to meet up with friends. The RPH has rotating taps for beer and cider and a different food truck each day offers plenty of options for food,” shares REALTOR® Samantha Arango. “Down the street is the Crest Theater, which is a discount movie theater, and a great place to take kids.”

 

Leena’s Cafe

  • Located at 17732 15th Ave NE, Shoreline, WA 98155
  • Hours: 6:30a-9:00p Monday-Saturday, 6:30a-8:00p Sunday

Family owned and operated, this Shoreline staple nestled in the heart of Shoreline’s North City district serves up classic diner food with a Greek influence. “Leena’s has a great breakfast menu,” —”It’s hard to top their breakfast!”

 

The Greek Kitchen

  • Located at 608 NW Richmond Beach Rd. Shoreline, WA 98177
  • Hours: 11:00a-9:00p Sunday-Saturday

“Love this friendly, family run restaurant,”  “Always clean, quick, consistent and delicious. Their hummus is to die for!”

 

Cabin Tavern

  • Located at 19322 Richmond Beach Dr. NW Shoreline, WA 98177
  • Hours: 12:00p-10:00p Monday; 12:00p-11:00p Tuesday-Thursday; 12:00p-2:00a Friday-Saturday; 12:00p-10:00p Sunday

“the Cabin Tavern is a perfect little dive bar grandfathered in to laid-back Richmond Beach with sloped floors, a crooked bar and regulars sipping beers at pretty much any time of day. Great fish and chips with the best tartar sauce ever and jam sessions Tuesday night where people can bring instruments and join in playing bluegrass, blues, folk, rock, you name it. Great character and worth checking out!” This spot has been around for decades, and offers “typical bar food and fair, but so much fun to sit outside with a brewsky on gorgeous summer days.”

Hill’s Restaurant & Bar

  • Located at 1843 NW 195th St. Shoreline, WA 98177
  • Hours: 11:30a-4:00p Sunday-Saturday (Lunch); 3:00p-5:00p Monday-Friday (Happy Hour); 4:00p-9:00p Sunday-Thursday, 4:00p-9:30p Friday-Saturday (Dinner)

New residents won’t want to pass up this local favorite a go-to for lunch, dinner, and happy hour. “Hill’s offers a great menu, nice ambience & good value,”. ”It’s a quaint little spot with great food and atmosphere!”

Taqueria El Sabor

  • Located at 15221 Aurora Ave. North Shoreline, WA 98133
  • Hours: 9:00a-11:00p Monday-Thursday; 8:00a-12:00a Friday-Sunday

For south-of-the-border flavor, Taqueria El Sabor: “Quick authentic Mexican food, always full of people enjoying a wide variety of food for reasonable prices. They started as a taco truck and now have 3 restaurants and a huge following.” ”[They have] consistently good fast food!”

Streetzeria

  • Located at 1857 NW 195th St. Shoreline, WA 98177
  • Hours: 5:00p-9:00p Sunday-Saturday

If you’re tired of the same old pizza places, mix things up with Streetzeria. Their flavors are amazing and their desserts are the perfect way to top off any meal.

Spiro’s Pizza & Pasta

  • Located at 18411 Aurora Ave. N. Shoreline, WA 98133
  • Hours: 11:00a-9:00p Monday; 11:00a-9:30p Tuesday-Thursday; 11:00a-10:30p Friday; 12:00p-10:30p Saturday; 4:00p-9:00p Sunday

Whether you’re looking for a team hangout or a corporate party spot, Spiro’s has you covered. Their restaurants work for group large and small and their food keeps everybody happy.

 

North City Bistro & Wine Shop

  • Located at 1520 NE 177th St. Shoreline, WA 98155
  • Hours: 4:30p-close Tuesday-Saturday (Kitchen); 2:00p Tuesday-Saturday (Wine Shop); closed Sunday-Monday

With food, wine, and live music, how can you go wrong? Grab your friends and check out the reinvented North City Bistro, a true neighborhood hot spot.

 


GROCERY SHOPPING in SHORELINE

For your grocery needs, Shoreline’s Costco, Central Market, and Trader Joe’s are not to be beat. From bulk savings and unique finds to fresh, high-quality foods, these shops have it all!

“For the best one-stop shopping experience, its got be Costco, centrally located in Shoreline and an easy I-5 commute. For a mid-day pick-me-up, you can always graze the isle samples or for that sit-down experience,there is the Food Court,”

“Central Market has cooking demonstrations, a huge deli, salad, and antipasto bar, and a great selection of cheeses, wines, and beers. Trader Joe’s opened up this year and is always a fun place to shop.” ”The Central Market offers everything FRESH – produce, seafood, flowers – you name it. They have lots of good organic options as well!”


PARKS in SHORELINE

Richmond Beach Saltwater Park

  • Located at 2021 NW 190th St. Shoreline, WA 98177
  • Hours: 6:00a-9:00p Sunday-Saturday

Located near the beautiful waterfront, Richmond Beach Saltwater Park is a perfect place to spend the summer picnicking or laying in the sand. There’s also an off-leash area during the winter months here.

Hamlin Park

  • Located at 16006 15th Ave. NE Seattle, WA 98155

If fitness is your thing, check out Hamlin Park. Trails run through natural areas and with the addition of an orienteering course, you can have fun while staying in shape. “Hamlin Park is a great place to do some trail running and there is a dog park there as well,”

Paramount School Park

  • Located at 15300 8th Ave. NE Shoreline, WA 98155
  • Hours: 6:00a-10:00p Sunday-Saturday

Get the kids moving with a trip to Paramount School Park. Baseball fields, a playground, and a skate park promise hours of fun that won’t break the bank.

Boeing Creek Park

  • Located at 17229 3rd Ave. NW Shoreline, WA 98133
  • Hours: 6:00a-6:00p Sunday-Saturday

Escape the everyday at Boeing Creek Park. Walk the trails, watch the wildlife, and immerse yourself in nature’s beauty any time of the year.  Boeing Creek Park for hiking and bird-watching!

Shoreline Pool

  • Located at 19030 1st Ave. NE Shoreline, WA 98155
  • Hours: 5:30a-8:45p Sunday-Saturday

Summer isn’t summer without a trip to the pool. Take the kids to Shoreline Pool for a dip this year or rent the whole pool for your next big weekend bash.

Posted on May 9, 2017 at 3:33 pm
Windermere Real Estate North | Category: Shoreline

Don’t Miss Out on These 12 Special Annual Events in Shoreline

One of the things that people love most about Shoreline is that it’s packed with fun events the whole family can enjoy! From festivals to food, there’s something for everyone.

The best events in Shoreline for 2017 and here are their top 12 picks! (We’ve shared the dates and times for 2017, but bookmark this post for next year so you can mark your calendars that a special event is coming up!)


APRIL 2017

Annual Egg Hunt on the Beach

  • Date & Time: April 15, 1:00p
  • Located at 2021 NW 190th St. Shoreline, WA 98177

This year’s Annual Egg Hunt on the Beach, sponsored by the Shoreline Fire Department, was a huge success. If you missed it, don’t fret; bring the kids down next year to catch some eggs and make some memories.


MAY 2017

Strawberry Festival

  • Date & Time: May 13, 12:00p-5:00p
  • Located at 2201 NW 197th St. Shoreline, WA 98177

Kick off strawberry season at Shoreline’s Strawberry Festival. Live music, tours, a children’s parade, and delicious strawberry shortcake make this one event you will not want to miss.


JULY-AUGUST 2017

Summer Concerts in the Park

  • Date & Time: July 5-August 23, 6:30p (unless otherwise noted)
  • Located at Several Community Parks Throughout Shoreline and Lake Forest Park

If you’re looking for a fun, free event, check out the Shoreline-Lake Forest Park Art Council’s Summer Concerts in the Park series. 2017’s lineup includes swing, latin jazz, and more, so grab a blanket and enjoy a musical summer evening.


AUGUST 2017

4-Corners Brewfest 2017

  • Date & Time: August 12, 3:00p-7:00p
  • Located at 1430 NW 188th St, Shoreline

Beer lovers unite! The 4-Corners Brewfest is back with more tasty food, live music, and the best brew samples around, so get ready for this local favorite.

Sandcastle Contest

  • Date & Time: August 20, 11:30a-2:30p
  • Located at 2021 NW 190th St. Shoreline, WA 98177

Part of “Celebrate Shoreline,” the Saltwater Park Sandcastle Contest gives contestants three hours to construct the best sandcastle. If you think you have what it takes, grab your shovel and start prepping for this unique event.

The North City Jazz Walk

“The North City Jazz walk is a fun summer event that takes place annually in August,” “A portion of 15th Ave NE is shut down and many businesses offer food and host various jazz bands.”


AUGUST-SEPTEMBER 2017

Shoreline Food Trucks

  • Date & Time: TBD; 5:00p-8:00p Wednesdays
  • Located at 2021 NW 190th St. Shoreline, WA 98177

Experience awesome local food trucks every Wednesday night at Saltwater Park. 2017 vendors are still TBA, so keep your eyes peeled for the taste adventures that await this year.


OCTOBER 2017

Hamlin Halloween Haunt

  • Date & Time: October 20, 6:00p-8:30p
  • Located at Hamlin Park 16006 15th Ave NE Shoreline, WA

If you’re looking for Halloween fun this year, need to check out the Hamlin Halloween Haunt. Spooky songs, s’mores, and more make this the perfect event for all ghouls and goblins.

Halloween Carnival

  • Date & Time: October 28, 3:00p-7:00p
  • Located at 19545 12th Ave. NW Shoreline, WA 98177

For old-fashioned carnival lovers, the Richmond Beach Community Association’s Halloween Carnival is exceptional. Classic games, a haunted house, inflatables, and food make this a timeless community tradition.


NOVEMBER 2017

Turkey Day Fun Run

  • Date & Time: November 23, 8:30a
  • Located at 2021 NW 190th St. Shoreline, WA 98177

Get pumped for that Thanksgiving feast during the Richmond Beach Community Association’s Turkey Day Fun Run. Enjoy a brisk trek before settling in to celebrate the holiday.


DECEMBER 2017

2017 Argosy Christmas Ship Visit

  • Date & Time: TBD
  • Located at 2021 NW 190th St. Shoreline, WA 98177

For a one-of-a-kind Christmas event, check out the Argosy Christmas Ship Visit. Relax around the campfire as a ship carrying choirs passes along the coastline, filling the air with carols that will fill you with holiday joy.

Christmas Morning Fire Truck Visit from Santa

  • Date & Time: December 25, Morning
  • Located at Various Neighborhoods Throughout Richmond Beach

Every Christmas morning, the Shoreline Fire Department gives the big man himself a ride atop one of their fire trucks as he visits the families of Richmond Beach. Keep a lookout this year; he may come down your street!


 

 

Posted on May 9, 2017 at 3:16 pm
Windermere Real Estate North | Category: Shoreline

5 Reasons Why Commuters Love Living in Shoreline

“Commuters love Shoreline because it’s halfway between Everett and Seattle, so whether someone is going to Boeing or Amazon the commute is not overly painful. Plus there are so many Rapid Ride options, transit stations nearby and soon the Light Rail. Easy back roads to Ballard and Queen Anne and just a quick trip to Edmonds to hop on The Sounder!”

Shoreline offers it all! Just north of Seattle, Shoreline is a top choice for those who commute due to its close proximity to the city  and myriad of transit options.

If you’re thinking about moving to Shoreline or switching up your commuting routine, check out these 5 reasons why commuters love living in Shoreline for some transit tips!


1. Future Light Rail Station

Did you know the Light Rail is coming to Shoreline?! That’s right—in 2023, Shoreline is getting light rail… and it’s getting not one but TWO stations! The city has plans for a station at I-5 and 145th St, and I-5 and 185th Street. You can take a look at the map of the extension right here. Not only will this be great for commuters, but this will have a huge effect on property values within its zoning.


2. Central Location

Shoreline is nestled in a central location that’s in between Seattle and Everett. Depending where you live in Shoreline, it’s about a 24-minute drive into Downtown Seattle while Everett is about a 20-minute drive.


3. Aurora Village Transit Center

People in Shoreline mostly use cars to get around, “but because there is a large transit center at Aurora Village, riding the bus is very convenient.” The Transit Center has several buses that head all over the region, including Downtown Seattle, First Hill, UW Campus, Northgate, Bellevue/Renton, and much more. There’s also a RapidRide to Downtown Seattle.

4. The Interurban Trail

The Interurban Trail provides a great way to walk or bike and is connected to the north to Snohomish County’s and to the south to Seattle’s Interurban Trails,”. The north portion of this trail leads from Seattle all the way up to Everett and makes its way right through Shoreline.

The Burke-Gilman Trail doesn’t run through shoreline, but there is a project underway that connects Shoreline’s portion of the Interurban Trail to Lake Forest Park and the Burke-Gilman!

“The primary source of transportation [in Shoreline] is by far the four wheel variety, but bicycles along the many two lane arterial roads is not uncommon. The Burke-Gilman Trail, which will take you down to the UW, points further west [and] is a popular destination for those both on bike and foot.”


5. Sounder Train in Nearby Edmonds

Located at 211 Railroad Ave, Edmonds, WA 98020 just north of Shoreline, the Sounder Train has a stop in Edmonds that you can take advantage of. The Sounder runs from Lakewood and Seattle, and Seattle and Everett, making it an excellent option for going longer distances in a relaxing, scenic manner. Bypass car traffic with this handy option!

Posted on May 9, 2017 at 1:44 pm
Windermere Real Estate North | Category: Shoreline

Your Guide to Schools in Shoreline

Here are a few of the schools that locals recommend:


Shoreline Public Schools

The Shoreline Public School system features early learning opportunities, 9 elementary schools, 2 middle schools, 2 high schools, one K-8 school, and a Home Education Exchange program. Shorewood High School is especially of note—this school was recently completely renovated, and re-opened in September 2013.

You can view the attendance area map for Shoreline Public Schools right here.


PRIVATE SCHOOLS IN SHORELINE

St Luke School

St Luke School offers a wide range of programs, including a preschool program for 3 and 4-year-olds, all-day kindergarten, and school up through the 8th grade. They also have an educational and engaging summer program to take advantage of!


Horizon School

“Horizon School is a dynamic school for pre-school/kindergarten ages that focuses on hands-on, self-directed play and creative expression.” Nestled in the Richmond Beach community, Horizon School is a private, non-profit school. The application process begins each winter, and they also offer summer programs.


 

First Lutheran School & Kindergarten

First Lutheran School & Kindergarten at Richmond Beach provides pre-k through kindergarten. It’s a solid starting point if you’re looking for a place that is well-rounded and focused on child development along with principles of the Christian faith,”. “Our kids attend and we are very impressed with the staff, their curriculum, and their approach to teaching.”


The Evergreen School

Offering programs for those in preschool all the way through 8th grade, The Evergreen School is all about learning in a vibrant, diverse environment. Their preschool program is a half-day program (with extended childcare available until 5:30pm), and their prekindergarten program is full-day. They also offer a huge variety of afterschool classes, including sessions that are focused on robotics, coding, baking, debate, sewing & crafting, and much more.


King’s School

This dynamic community offers programs from preschool all the way through high school graduation. The King’s School website state that their “standard curriculum is the highest quality college-prep track available,” and they also provide honors and classes in addition to a huge variety of sports, music, drama, and other programs.


Shoreline Community College

This incredible resource offers a dynamic range of programs, including high school programs (like Running Start, GED, and more), professional and technical programs (like nursing, dental hygiene, criminal justice, business technology, etc.), online programs, transfer degrees for those who plan to attend a college or university, continuing education, and so much more! Learn more about Shoreline Community College’s myriad of offerings here.

Monthly Newsletter May 16, 2017

Seattle, What’s the big deal?

The headlines are everywhere proclaiming Seattle as the hottest housing market in the nation. Our humble city built on aerospace, trade, and influenced by a software engineer who donates millions, has found itself on the national map as the new darling of the tech world. Of course, this proclamation cannot go without mentioning the commerce juggernaut right in our own backyard, Amazon. I was told recently by Windermere’s Chief Economist Matthew Gardner, that Amazon occupies 20% of all Class A business space in Seattle – that is a lot! It seems you cannot drive I-5 without spotting at least 15-20 cranes busily building more of that office space.

So why, Seattle? In contrast to California’s Bay Area, the cost of living here (rents and real estate) is half – office space costs half and companies can provide the same wages. This combination puts more money in employees’ pockets and companies are not as expensive to run, making profits higher. This has driven many companies to relocate or expand from the Bay Area to Seattle or Bellevue, markedly increasing the demand for housing.

This has put an even tighter squeeze on inventory, putting us in the most extreme Seller’s market (0-3 months of inventory) we’ve ever seen. This has driven prices up, and values are hinging on commute times. Below is a chart that outlines the amount of available inventory based on pending sales measured in months, and the median price in the month of March 2017.

As you can see, there is a direct correlation between proximity to job centers (Seattle and Bellevue) and home prices. If you have considered selling your home and making a move, now is one of the most favorable times to do so. If you are considering a purchase, the environment is competitive but there are opportunities. Aligning with an experienced and knowledgeable broker who can help you properly strategize, is key.

One might think it is simple to sell your home in this market, but getting top dollar, strong terms, and a sale that will pass appraisal is the ultimate goal, and takes a high level of communication and nuanced negotiations. The same applies for buyers, along with education and a refined process, which helps empower buyers to make informed decisions and win.

Our city is changing, and whether one thinks it is for the good or the bad is up to them, but this is our new reality. Seattle is beautiful, prosperous and full of opportunities for those who choose to call it home. Like any opportunity, it needs to be properly analyzed, considered, and ultimately seized. If you are curious how your home measures up in today’s market please contact me, We’d be happy to provide you a complimentary market analysis to help keep you informed, or sit down and chat about the steps of a successful home purchase.

The Gardner Report - a local analysis for Western Wa. May 2, 2017

First Quarter 2017 real estate market analysis

View this email in your browser

 

 Gardner Report  | WWA Q1 2017
The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me.

ECONOMIC OVERVIEW

I’m happy to report that Washington State continues to add jobs at a steady rate. While the rate of growth is tapering, this is because many markets are getting close to “full employment”, during which time growth naturally slows. That said, I believe that the state will add around 70,000 jobs in 2017.

Washington State, as well as the markets that make up Western Washington, continues to see unemployment fall and I anticipate that we will see this rate drop further as we move through the year.

In all, the economy continues to perform at or above average levels and 2017 will be another growth year.

HOME SALES

  • There were 15,652 home sales during the first quarter of 2017. This is an increase of 9.5% from the same period in 2016, but 20.7% below the total number of sales in the final quarter of 2016.
  • With an increase of 45.5%, sales in Clallam County grew at the fastest rate over the past 12 months. There were double-digit gains seen in an additional 10 counties, suggesting that demand remains very robust. The only modest decline in sales was seen in Grays Harbor County.
  • The number of homes for sale showed no improvement at all, with an average of just 6,893 homes for sale in the quarter, a decline of 33% from the previous quarter and 25% from the first quarter of 2016. Pending sales rose by 2% relative to the same quarter a year ago.
  • The key takeaway from this data is that 2017 will offer little relief to would-be home buyers as the housing supply remains severely constrained.
 Annual Change in Home Sales

HOME PRICES

  • With demand continuing to exceed supply, home prices continued to rise at above-average rates. Year-over-year, average prices rose by 9.5% but were 1.1% lower than in the final quarter of 2016. The region’s average sales price is now $409,351.
  • Price growth in Western Washington is unlikely to taper dramatically in 2017 and many counties will continue to see prices appreciate well above their long-term averages.
  • When compared to the same period a year ago, price growth was most pronounced in Kittitas County, which rose by 19.6%. Double-digit price growth was seen in an additional 10 counties. The only market where the average price fell was in the ever-volatile San Juan County.
  • It is clear that rising interest rates have not taken much of a sheen off the market.
 WWA Heat Map
 Annual Change in Home Sale Prices

DAYS ON MARKET

  • The average number of days it took to sell a home in the first quarter dropped by 16 days when compared to the first quarter of 2016.
  • King County remained the tightest market, with the average time to sell a home at just 31 days. Island County was the only area where it took longer to sell a home than seen a year ago; however, the increase was just one day.
  • In the first quarter of the year, it took an average of 70 days to sell a home. This is down from the 86 days it took in the first quarter of 2016, but up from the 64 days it took in the final quarter of last year.
  • Given woefully low levels of inventory in all Western Washington markets, I do not expect to see the length of time that it takes to sell a home rising in 2017. In fact, it is likely that it will continue to drop.
 Average Days on Market

CONCLUSIONS

 
This speedometer reflects the state of the region’s housing market using housing inventory, price gains, home sales, interest rates, and larger economic factors. For the first quarter of 2017, I moved the needle a little more in favor of sellers. The rapid increase in mortgage rates during the fourth quarter of 2016 has slowed and buyers are clearly out in force.

ABOUT MATTHEW GARDNER

Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has over 25 years of professional experience both in the U.S. and U.K.

 
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Mountlake Terrace April 26, 2017

7 Breweries for Beer Lovers Just North of Seattle

MOUNTLAKE TERRACE

Diamond Knot Brewpub at MLT

 

  • Located at 5602 232nd Street SW Mountlake Terrace, WA 98043
  • Hours: Monday-Thursday 11am – 11pm, Friday 11am – Midnight, Saturday 8am – Midnight, Sunday 8am – 11pm

Diamond Knot Brewpub is a local favorite. Started by Bob Maphet and Brian Sollenberger as a hobby, Diamond Knot Craft Brewing now makes over 600 barrels of beer every single month! Diamond Knot mainstays include their India Pale Ale, Industrial IPA, Blonde Ale, Pipe Down Brown Ale, Above Board Pale Ale, E.S.B. Steamer Glide Stout, Possession Porter, and Hefeweizen.

TIP: You can also grab breakfast, lunch or dinner here, plus they’re family- and dog-friendly!

Learn more about Diamond Knot here:


LYNNWOOD

Big E Ales

 

  • Located at 5030 208th St SW Suite A. Lynnwood, WA 98036
  • Hours: Tuesday – Thursday 1pm – 10pm, Friday & Saturday 11am – 10pm

Brewing since 1997, Big E Ales serves up hand-crafted ales alongside a full, mouthwatering menu of delicious appetizers and entrees. You can stop by for a refreshing beer with friends, or even book the Brew Room for events like wedding receptions and company parties.

TIP: Their blog is packed with interesting beer history!


EDMONDS

Salish Sea Brewing Company

 

  • Located at 518 Dayton St. #104 Edmonds, WA 98020
  • Hours: Monday – Wednesday 3pm – 9pm, Thursday 3pm – 10pm, Friday – Saturday 12pm – 11pm, Sunday Noon – 8pm

Home to a variety of carefully crafted brews, Salish Sea Brewing Company is a staple of the region. Beer lovers can choose from their Drop Anchor IPA, Salish IPA Dayton Street (3 SEAS) Session ISA, Driftwood Pale, Honey Golden, NW “Wildfire” Red, Expansion Amber, Kodiak Brown Porter, Prior Porter, Big Chocolate Love:  A Robust Porter, and the seasonal Blackfish Stout and Blizzzaak Winter Ale. In addition to grabbing an ice-cold brew, you can enjoy an evolving menu of sandwiches, soups, and appetizers.

TIP: Families are welcome, and dogs are allowed on the outside patio.


American Brewing Company

 

  • Located at 180 W. Dayton St. Warehouse 102 Edmonds, WA 98020
  • Hours: Monday – Thursday 3pm – 9pm, Friday 3 – 10pm, Saturday Noon – 10pm, Sunday Noon – 8pm

At American Brewing Company, craftsmanship and science are at the forefront of everything they do and create. Started in 2010 by Adam Frantz, American Brewing Company benefits from Adam’s years of practice and his worldwide travels that have influenced his craft beers. Their consistent offerings include an India Pale Ale, Pale Ale, Kolsch Ale, Stout, and a selection of seasonal and specialty beers.

TIP: These guys also brew 6 flavors of kombucha!


Gallagher’s Where-U-Brew

 

  • Located at 180 W. Dayton St. #105  EDMONDS, WA
  • Hours: Tuesday – Friday 2pm – 8pm, Saturday and Sunday 10am – 5pm

Ready to DIY your own brew?! Gallaghers Where-U-Brew offers an amazing opportunity to create your very own craft beer! They provide you with everything you need to brew a batch of beer… and it only takes 2 hours! They’re guide you through the different types of brews you can create, help you select what you’re most interested in, and assign you to a professional brewing kettle with instructions on how to get started. Then, you set a date (usually 2 weeks later) for you to go in a bottle your beer! Learn more about the process here.

TIP: You can also brew ciders, root beer, and make your own wine at Gallagher’s!


KENMORE

Nine Yards Brewing

 

  • Located at 7324 NE 175th St., Suite A Kenmore, WA 98028
  • Hours: Monday – Thursday 2pm – 10pm, Friday 2pm – midnight, Saturday 11am – midnight, Sunday 11am-10pm

Located right off the Burke Gillman trail in Kenmore, Nine Yards is a popular local establishment. Stop by for hand-crafted brews, food trucks, pinball machines, Skee ball… this happening place has it all, and is great for group gatherings or parties.

TIP: This establishment is open to all ages!


Cairn Brewing

 

  • Located at 7204 NE 175th St. Bldg A, Kenmore, WA 98028
  • Hours: Wednesday and Thursday 4pm – 9pm, Friday 3pm – 10pm, Saturday 11:30am – 10pm, Sunday 11:30am – 6pm

Cairn Brewing is a hub for beer drinkers and beer brewers alike. Stop by to enjoy a pint of the many on-tap offerings, 5 of which are always served directly from the tank! (There will also often be a food truck parked outside for your convenience!) Or, for those who are interested in learning the craft straight from the masters, sign up for a homebrewing class! Learn about the beer-making process, and actually brew a batch in class.

TIP: The Cairn Brewing taproom is family- and dog-friendly!


 

4 Things You Need to Know About the Mountlake Terrace Transit Center

As a local hub of transit and convenience, Mountlake Terrace is a popular choice for those who want to live in a smaller city that’s still close to Seattle and the Eastside. The Mountlake Terrace Transit Center makes this all possible by connecting local, commuter, and regional busses with passengers.

 

If you’re moving to Mountlake Terrace or already live here and need some commuting tips, read on! Here are 5 things we think you need to know about the Mountlake Terrace Transit Center:

The Transit Center has the capacity for over 1,000 cars.

This include a 5-level parking garage with 900 spaces. Plus, there’s bike lockers and racks available as well! This means 1,000 fewer cars on the streets during rush hour. (Thank you, Transit Center!) Helping 40,000 passengers commute each day is an amazing feat, and as our region grows, the Transit Center will become an even more crucial part of our community.

Light Rail is coming to Mountlake Terrace in 2023!

This is a BIG deal for the community. Construction on the new light rail station and route is slated to begin in 2018, and expected to begin servicing the area in 2023. Take a look at this interactive map for a better understanding of the upcoming Link Light Rail expansion!

You can take a bus to Downtown Seattle, Everett, and beyond from the Transit Center.

For those who have to commute for work, the Transit Center is served by several commuter buses and express bus services. You can take a look at schedules and specific routes here.

DART (Dial-A-Ride-Transportation) offers those with disabilities transportation access.

Specially designed for those with health conditions and disabilities this service offers those who wouldn’t ordinarily have access to public transit the opportunity to get out and about in the community. Learn more about how to use this excellent service here.

 

3 Places That Mountlake Terrace Dog Owners Need to Know About

Whether you’re looking for a city that welcomes you and your furry best friend, or you already live in the Mountlake Terrace area and want to start exploring, you’re in luck! The Mountlake Terrace area has some excellent amenities for dog owners and their canine companions to enjoy, all while getting some exercise and enjoying the outdoors!

If you’re a dog owner in Mountlake Terrace, here are 3 places you need to know about:

Mountlake Terrace Off-Leash Dog Park

The Mountlake Terrace Off-Leash Dog Park is located just northeast of the MLT Recreation Pavilion. Offering just under an acre of space in the shaded woods of Terrace Creek Park, this fenced area is a haven for dogs!

“We love to take our dog Dash for walks and let him run off leash in the park!” shares Shelly Katzer. Dogs can run and play within the double-gate system, and owners are welcome to relax on benches (or run and play, too!). Learn more about the park and read rules for visiting the dog park here.


Marina Beach Off-Leash Park

While this park technically isn’t in Mountlake Terrace, it is in the neighboring city of Edmonds (498 Admiral Way Edmonds WA 98020) and well worth the short 10-20 minute drive from MLT. As part of the larger Marina Beach Park on the Edmonds waterfront, this park offers a long list of amenities in addition to the off-leash area. A loop trail, playground, restroom, picnic tables, barbecue area, and much more set the scene.

As for the dog park portion, furry friends can frolic in the sand, splash in the surf, and stretch their legs as they meet other dogs in the cool ocean breeze. Click here to learn more about this Edmonds off-leash area.


Photo courtesy of the Pet Adventure Facebook page

Pet Adventure Shop

Located in the Cedar Plaza Shopping Center (22803 44th Ave. West Suite E-5 Mountlake Terrace, WA 98043), Pet Adventure Shop is a must-visit destination for local pet owners! Established in 2010 and owned and operated by locals, Pet Adventure Shop stocks its shelves with a huge range of food and supplies. Even the pickiest of pets are bound to find something delicious here—check out a list of the brands of cat and dog foods Pet Adventure Shop carries here.

In addition to supplies for cats and dogs, they also carry an eclectic variety of products for other animals including hamsters, birds, bunnies, fish, chickens, and horses.

 

Our 5 Favorite Things About the Mountlake Terrace Recreation Pavilion

Nestled between Terrace Park School and the Mountlake Terrace Off-Leash Dog Park, the Mountlake Terrace Recreation Pavilion (5303 228th Street SW, Mountlake Terrace, WA 98043) is an incredible multi-purpose facility packed with amenities to take advantage of!

The MLT Pavilion offers great programs for all ages, including a great swimming program. Pre-school programs, before and after school, Kids Krew and summer camps.”

This dynamic community center offers so many amenities to the MLT community, and we wanted to share a few of our favorite things about the community center that are not to be missed!

Photo courtesy of the Mountlake Terrace Recreation & Parks Facebook page

 

The multi-purpose swimming pool.

This warm-water pool not only is home to swimming lessons and a range of classes, but it also includes a lazy river with a current, spray toys, a beach-like entry leisure pool, a therapy pool, handicapped access, a sauna, and more. Plus, you can even rent out the pool for parties!

Kids programs, like preschool, before & after school care, and summer camps!

Keeping kids busy is easy with this community center in your city’s backyard! There are 3 preschool options for kids ages 3 to 5, each program providing a unique set of offerings. Kids Krew offers before and after school care for kids ages 5 to 12, and a huge variety of summer camps include themes like swimming, dance, basketball, tennis, and general youth camps.

The huge variety of fitness classes and sports leagues.

Whether you’re into something super upbeat (like Turbo kick or Zumba) or something a little more low-key (like yoga and Tai Chi), the recreation pavilion has a large selection to choose from. If playing on a team is more your style, adults can participate in basketball, racquetball, softball, volleyball, and racquetball sports. Sign up with a friend and meet your neighbors!

The MLT Recreation Pavilion is open 7 days a week.

Whether you want a workout before work or the kids need to burn off some energy on a rainy Sunday, the pavilion is open and waiting to be used! Hours include Monday – Thursday 6am – 9:30pm, Friday 6am – 7:15pm, Saturday 7am – 8pm, and Sunday 8:30am – 7pm.

Mountlake Terrace residents get a discount.

Whether you’re using the pool, buying a pass, or taking a class, all MLT residents receive a discount on using this facility. You can view all 2017 fees here.

Check out the complete Recreation Program Guide here!