When you see Yakima Valley AVA on a wine label this video will give you a little more appreciation for what to expect….. cheers!
Originally posted on wineeyak:
Yakima Valley encompasses significant diversity of climate, topography, and soil; and this diversity yields a broad spectrum of high-quality grapes and wines. Four American Viticultural Areas (AVAs) – Yakima Valley, Red Mountain, Rattlesnake Hills, and
Snipes Mountain – highlight this impressive regional complexity.
2013 was another strong recovery year for local real estate especially for Hollywood Hill.
The average sold price for 2012 was $619,097 and the average for 2013 was a whopping $781,861. A 26% increase over 2012!
Despite the downward trend in inventory for 2013 the total number of homes sold on Hollywood Hill in 2012 was 63 with an average market time of 64 days. The 2013 stats looked similar with 66 homes sold although taking on average 83 days to sell. The list price to sold price remained around 98% for years 2012 and 2013.
The highest sales price for 2012 was $1,395,00 and for 2013 it was $1,685,000.
Chart 1 tells it all. Although subtle, the red line shows the average number of listings per month. The 2013 stats showed a strong reduction in inventory or homes for sale during the last quarter of the year. This may be setting the stage for another large increase in home values on the hill this year.
Chart 2 shows the number of listings (blue) each month compared to the number of solds (green). Hollywood Hill tends to follow a typical sales cycle with the Spring bringing in some buyers but the home buyers appear to be doing most of their buying during the Summer months.
Looking ahead if you are a seller it may be prudent to put your home on the market by May. You will be well positioned for the Spring and Summer buyers.
Buyers, on the other hand, should be well prepared, pre-approved and ready to go when the right house becomes available on the market despite the buying trend.
For more information about Hollywood Hill and local real estate contact:
*This data was accumulated and derived from the NWMLS. Other sales that did not go through the NWMLS were note included in this data.
The hill is hot! The absorption rate for new listings is under 2 meaning that it is an excellent sellers market and there is only about a two month supply of housing inventory at the pace buyers are buying.
Year to Date - Solds: 52 homes have sold priced from $230,000 to $1,685,000
Recent Pending: 10 homes priced from $425,000 to $1,298,000
Active Listings: 13 homes are available on the hill priced from $558,500-$1,986,000.
The current entry price point to buy a home on Hollywood Hill is about $100,000 more than 6 months ago. $558,500 is the new low for the neighborhood.
On the other end of the spectrum the luxury home market or those homes over $1,000,000 is still a little sluggish. There seems to be a barrier to the $2,000,000 price point. It has not been broken this year. So, there are some fabulous buys in the higher end, luxury, home market.
Hollywood Hill is made up of approximately 1,400 homes. The beauty of the neighborhood is that there are homes that were built in the early 1900’s and then throughout the century into the next. It is a diverse neighborhood and at anytime there may be a property that is older in construction, unimproved or with less square footage that may become available under $500,000.
On the other hand, the luxury home market abounds with fantastic homes that you could not replicate or build for the price offered today. Throw in the low interest rates and this is truly a market for both buyers and sellers.
For these reasons, if you are looking to purchase a home or sell one on the hill it is important to work with an agent that knows Hollywood Hill and can provide up to the minute data on available properties. (If you are not working with an agent and need one for Hollywood Hill – call me at 206-200-9849)
For more detailed real estate and active listing information contact me at 206-200-9849 or email@example.com
Lakeshore Realty West
Maureen Nolan – 206-200-9849
An exciting update on Mabel’s tavern. It’s re-opening as The Hollywood Tavern this Tuesday, November 12. The website is up….http://thehollywoodtavern.com/?page_id=341 , the menu planned with the Hollywood Burger front and center, and the old building will be expanded with plenty of outdoor spaces and a shiny new addition. The reviews and fanfare have also begun. Check out Seattle Met’s – Nosh Pit’s 5 Reasons to Get Excited About The Hollywood Tavern.
How and why did Woodinville become Washington’s premier wine hub? In one simple answer, Chateau Ste. Michelle. Ste. Michelle is the singular reason though there are a multitude of variables that have contributed to Woodinville’s rise in stature as Washington’s go-to place for Washington wine. Read more – How wine put Woodinville on the map.
What a dynamic real estate year 2013 has proven to be so far. Here are the latest real estate statistics for Hollywood Hill:
Year to Date - Solds: 27 homes sold from $230,000 to $1,685,000
Year to Date – Pending: 12 homes priced from $399,950 to $1,495,000
Active Listings: 19 homes are available on the hill priced from $465,000-$1,800,000.
Current and active listings include new construction opportunities which have not been available on the hill for a few years. In addition, right now there is a select group of stellar properties available that embrace everything Hollywood Hill has to offer. Acreage, equestrian, wine country and lifestyle properties that are irreplaceable and so unique that they are like none other anywhere in the Puget Sound area.
And to top that off a new restaurant has opened in the ‘hood. The long awaited opening of The Commons Cafe took place this week. Owned by the Heavy Restaurant group aka Purple Cafe and crew they took over the old Tully’s spot at the bottom of the hill. And with more food there is always more wine in Woodinville! Welcome the highly acclaimed Fidelitas to the neighborhood. They are located between Dusted Valley and Trust Cellars.
Hollywood Hill is definitely the place to live especially if you enjoy food, wine and a terrific lifestyle!
For more detailed real estate and active listing information contact me at 206-200-9849 or firstname.lastname@example.org
Lakeshore Realty West
Maureen Nolan – 206-200-9849