Seattle / Eastside Market Report – March 2018

The local real estate market set new home price records in many parts of the region in February. Prices here have grown faster than anywhere else in the country for the last 16 months in a row. Demand remains high and inventory very low. Brokers are hoping the normal seasonal increase in listings this spring will help give buyers some relief.


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With home prices soaring on the Eastside, it’s not a matter of whether the median price will exceed a million dollar, but when. February brought the market very close to that milestone. The median price of a single-family home increased 14 percent to a record $950,000 on the Eastside, surpassing the previous peak recorded in December.

King County

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The red-hot job market in King County continues to outpace nearly every area in the nation. Well-paid workers looking to buy close to city centers have fueled a growing competition for a shrinking number of homes. That demand boosted the median price of a single-family home up 16 percent over a year ago to $649,950.


>>>Click image to view full report.

The median price of a single-family home in Seattle hit a new high of $777,000 in February, $20,000 more than the previous record set in January and up 14 percent from the same time last year. Despite the sharp increase in prices, multiple offers have become the norm for most properties. It remains to be seen if recent interest rate hikes will have a moderating effect on home values.

Snohomish County

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After several months of moderating growth, Snohomish County set a new record for home prices in February. The median price of a single-family homes jumped 18 percent to an all-time high of $485,000. Inventory is down from a year ago, with less than a month’s supply of homes available for sale.

If you are considering buying a home in today’s market, here are three things to consider:

  1. Make sure you can afford the payments.
  2. Choose a location that will appeal to you long-term.
  3. Be committed to living there for a minimum of five to seven years.
Posted on March 15, 2018 at 9:46 am
Stephanie Kristen | Category: bellevue, economy, market trends, seattle, statistics

Sweeping View in Somerset

This Somerset home showcases expansive views of Lake Washington, the Olympic Mountains, and the downtown skylines of Seattle and Bellevue. A wall of windows maximizes the views from the living, dining and open kitchen. Large level patio in back perfect for entertaining or play. Master suite w/built-ins and luxurious 5-piece master bath. Lower level family room also highlights the views. Award winning schools, Somerset Elementary, Tyee Middle School and Newport High. Convenient location, minutes to downtown Bellevue and Seattle. This is the place to be! 4422 138th Ave SE, Bellevue ~ $1,568,680

Full listing information here.



Posted on March 14, 2018 at 11:20 am
Stephanie Kristen | Category: bellevue, listings, somerset

Modern Somerset

Mid-century modern remodeled with today’s conveniences. Open concept kitchen with high-end appliances & island. Warm woods throughout; clerestory and full-length windows for an abundance of natural light. Living room has vaulted ceilings, gas fireplace and lovely lake & mountain views. Dining opens to large deck. Master w/dual walk-in closets, 3/4 bath and door to private hot tub. Lower level media room, and guest bedroom w/den. 2 blocks to Somerset Elementary.

This home is not to be missed! Open Saturday and Sunday 1-4 pm
More property information here.


Posted on March 10, 2018 at 5:36 pm
Stephanie Kristen | Category: bellevue, listings, somerset

Cape Cod in Somerset


Traditional Cape Cod in prime location of Somerset.  Two blocks from Elementary.  Ideal floor plan with four bedrooms, two baths up.

Open Saturday and Sunday 1-4. ~ 4453 144th Ave SE, Bellevue ~ $1,200,000

Check out the full listing here.

Posted on March 3, 2018 at 11:28 am
Stephanie Kristen | Category: bellevue, listings, somerset

Somerset City View

Spectacular views in sought after Somerset. All main living areas offer city, mountain, sound and lake views. Ideal floor plan with three bedrooms up and two down. Kitchen open to family room. Living room with vaulted ceilings and formal dining room with a wall of windows to soak in the views. Lower level features huge family room. Flat yard with plenty of room for play. Brand new architectural roof, furnace and hot water tank. Short walk to top Bellevue schools – Somerset, Tyee and Newport.

4475 141st Ave SE, Bellevue ~ $1,688,000

Check out all the details here.

Posted on February 12, 2018 at 1:25 pm
Stephanie Kristen | Category: bellevue, listings, somerset

Windermere Foundation Reports Record Day of Giving

Every week, the Windermere Foundation disburses grants to support non-profit agencies dedicated to helping low-income and homeless families. On a given day, thousands of dollars’ worth of grants can be issued. However, on one particular day, November 15 to be exact, an amazing thing happened…the Windermere Foundation disbursed nearly $254,000. This was a record day of giving for the Windermere Foundation!

A total of 35 non-profit organizations benefited from the record-breaking $253,782 in donations that day. The largest beneficiary was Attain Housing in Kirkland, WA, which received $56,000. Their grant was funded by the Windermere Real Estate East, Inc. group of offices which are located east of Seattle in Bellevue, Redmond, Issaquah, and Kirkland. The funds will provide affordable housing to homeless families with children, as well as case management for setting financial and social goals.

Attain Housing helps homeless and at-risk families with children in King County to become stable and self-sufficient. Here’s a story of one of their recent clients:

When Jeremy and Lisa entered into Attain Housing’s program just five months ago, they had a lot of hurdles ahead of them. They were both only nineteen, had a newborn, had been homeless since they were fourteen, and had never experienced stability. As soon as they moved into one of Attain’s transitional housing apartments and began working with their case manager, Jeremy started attending a skills training program. He has since earned his GED, acquired his driver’s license, obtained a vehicle, and started full-time employment. Jeremy’s family is on track to successfully complete the program by the end of their first year, but they already have plans to move into market rate housing within the next two to three months. This is success!

According to Kathy Fleming, Executive Director at Attain Housing, “The $56,000 gift from Windermere ensures that five families (including 15 children) will have safe housing and supportive services for an entire year. This is a significant gift and the largest grant that Attain Housing has received from any organization or company. Thank you!”

The Windermere Foundation is fortunate to have generous owners, agents and staff that contribute to their offices’ Foundation fund pool. This pool of funds, combined with Windermere transaction donations, monies raised through Windermere office fundraising events, and donations from the public, allows the Windermere Foundation to disburse much-needed funding to local non-profits in the areas that our Windermere Real Estate offices serve.

If you’d like to help to help non-profits that provide services to low-income and homeless families in your area, please consider donating to the Windermere Foundation.

To learn more about the Windermere Foundation, visit

Original posting in Windermere Foundation Blog

Posted on December 4, 2017 at 11:50 pm
Stephanie Kristen | Category: bellevue, community, giving back

Just listed in Somerset

For the first time in over thirty years, this beautifully maintained home is on the market.  Just a few short blocks from Somerset Elementary, this is a perfect place to call home.  Circular floor plan with wood wrapped vaulted ceilings and a wall of windows. Room for all with four bedrooms and two baths on the main floor.  Lower level family room with a library of custom built-in cabinetry and gas fireplace.

Stop by Saturday from 1 – 4 pm or Sunday from 11 am – 3 pm.

14127 SE 50th Street, Bellevue ~ $1,125,000

Check out all the details here.



Posted on September 16, 2017 at 10:32 am
Stephanie Kristen | Category: bellevue, listings, somerset

The Gardner Report – Second Quarter 2017

Economic Overview

The Washington State economy has been expanding at a rapid pace but we are seeing a slowdown as the state grows closer to full employment. Given the solid growth, I would expect to see income growth move markedly higher, though this has yet to materialize. I anticipate that we will see faster income growth in the second half of the year. I still believe that the state will add around 70,000 jobs in 2017.

Washington State, as well as the markets that make up Western Washington, continue to see unemployment fall. The latest state-wide report now shows a rate of 4.5%—the lowest rate since data started to be collected in 1976.

I believe that growth in the state will continue to outperform the U.S. as a whole and, with such robust expansion, I would not be surprised to see more people relocate here as they see Washington as a market that offers substantial opportunity.

Home Sales Activity

  • There were 23,349 home sales during the second quarter of 2017. This is an increase of 1.1% from the same period in 2016.
  • Clallam County maintains its position as number one for sales growth over the past 12 months. Double-digit gains in sales were seen in just three other counties, which is a sharp drop from prior reports. I attribute this to inventory constraints rather than any tangible drop in demand. The only modest decline in sales last quarter was seen in Grays Harbor County.
  • The number of homes for sale, unfortunately, showed no improvement, with an average of just 9,279 listings in the quarter, a decline of 20.4% from the second quarter of 2016. Pending sales rose by 3.6% relative to the same quarter a year ago.
  • The key takeaway from this data is that it is unlikely we will see a significant increase in the number of homes for sale for the rest of 2017. Continue reading
Posted on August 6, 2017 at 3:57 pm
Stephanie Kristen | Category: bellevue, economy, interest rates, market trends, real estate, statistics

Seattle / Eastside Market Report – May 2017

The local real estate market—already the hottest in the country—set yet another price record in April. The number of homes for sale dropped 27 percent compared to a year ago, the lowest amount of inventory ever recorded for a spring month. The historically low supply of homes is making competition among buyers fierce. Sellers are in the enviable position of being able to structure sales agreements to include concessions such as rent-backs and longer closing time so they can take the time to find their next home.
Continue reading

Posted on May 9, 2017 at 10:34 pm
Stephanie Kristen | Category: bellevue, economy, interest rates, market trends, real estate, seattle, statistics

2017 Annual Shredding Event

Taxes done? Boxes of  old documents? Join us at our annual shredding event at Windermere Bellevue South.

Posted on April 13, 2017 at 9:59 pm
Stephanie Kristen | Category: bellevue, community