2016 will be a remembered for many things including a small foot note that the greater Seattle area acquired the coveted status of this country’s hottest real estate market. Defying all forecasts, Seattle, earned the distinction of being the hottest market with the fastest-rising prices in the nation. And it appears that 2017 will continue that positive trend.
The “greater” Seattle area includes several communities. And within each community the market played out differently. The core areas, Seattle, Bellevue, Kirkland saw multiple offers and unbelievable buying frenzies around certain properties. Sellers in outlying areas may have been surprised when their property did not draw the same kind of attention.
Hollywood Hill proved to be one of the “greater” Seattle communities that performed above average. Buyers were willing to pay a premium. In fact, buyers paid almost 20% more for a home in Hollywood Hill than they did a year ago.
Statistics released early December through the NWMLS showed King Co. prices averaged an increase of 10.9% year to date proving Hollywood Hill’s stellar performance.
Here are the end of year stats for Hollywood Hill::
60 homes sold and closed !
$979,622 – average sold price for 2016
99.24% was the percent sellers received of their list or asking price.
36 days – was the average number of days it took to sell a home.
$279.91 – was the average price per square foot sellers received.
Graph shows the average selling price and average sale vs. list price since 2012.
Lakeshore Realty West, LLC
Maureen Nolan – 206-200-9849
When wine and real estate merge everybody wins. The Port of Kennewick recently announced that they have awarded two winemakers the coveted right to open wineries on Port property.
The Port took applications August of 2016 to fill two spots for Phase 1 of the Columbia Garden Urban Wine and Artisan Village. The winners were announced recently and Vino La Monarcha and Seattle’s very own Bartholomew Winery (we will miss you Bart) will soon make their homes in Kennewick.
These wineries are fine choices for the Port’s project. Both wineries are winemaker driven, small boutique, premium wineries. Columbia Gardens will serve as their production centers as well as their operational headquarters. Meaning you will be able to visit a production facility and tasting room and you may even be able to meet the winemaker between fermentations, punch-downs, racking and bottling!
Columbia Garden Urban Wine and Artisan Village will open sometime in 2017!
Read more here:
Driving around in the rain a few days in a row marked that reality of life in the Northwest that summer has truly ended. That fantastic endless summer of 2015 crashing down with each droplet of rain. So sad. The only redeeming reminder of that reality is that the rain and crisp fall air brings an end to harvest. The bounty thankfully remains.
Vintage 2015 is fermenting. It is yet to be seen what this hotter than normal, early harvest, fire and drought year will do to the magic of the wine made this vintage. A distinguished year for sure.
In the wait for vintage 2015 why not bring in the new season with some spicy, bold reds. One of the “other” reds that I think goes particularly well with Fall is…Carmenere.
A visit to Prosser a month ago inspired my on-going fascination with the lost Bordeaux. Mostly associated with master winemakers in Chile. It’s original home was Bordeaux. Carmenere is also finding a home in Washington. And, yes, I’ve written about Carmenere before if this is all sounding familiar.
Pontin Del Roza winery in Prosser is one of my favorite grower, winemaker, wineries in Eastern, Washington. They are the real deal. If you stop by you have a very good chance of meeting the winemaker, Scott, or more impressively one of his parents. Pontin del Roza is a thriving estate winery with over 100 acres of 10 varietals including: Riesling, Malbec, Syrah, Dolcetto, Sangiovese, Cabernet Sauvignon, Carménère and Petit Verdot.
Fortunately, during my visit to the Pontin’s they were pouring their Carmenere and Sangiovese. Both of these sell out quickly so it was nice to be there before that happened. Which is not usually how it goes for me. Pontin’s 2013 Carmenere expressed all the fabulous elements characteristic of the grape. It had less tannins than Cabernet Sauvignon, and is a milder red, with fruity dark cherry and spicy notes.
Carmenere is often used as a blending grape but finding a 100% version is worth the pursuit. Give it a try.
Salut to Fall!
Wine country is in full harvest mode. Grapes are arriving by the truckloads, crush, press and punch downs have begun. All should find comfort knowing that vintage 2015 is into full primary and may be even secondary fermentation right now.
If you’ve been dreaming of living in wine country now is a great time to visit, experience harvest, get your hands purple, taste some wine and find that home!
Hollywood Hill market recap:
There are currently 9 homes on the market priced between $589,000 and $3,499,000
8 homes are pending priced from $369,950 and $1,150,000.
54 homes have sold since the first of the year that closed between $383,000 and $1,365,000.
The average market time for a home to sell on the Hill is around 48 days and sellers are getting on average 99.86 % of their asking price.
SIGNS OF HARVEST IN THE ‘HOOD
Consumed with multiple and crazy all cash offers it is hard to believe that the haunting past of the recession still casts a shadow. The truth of the matter is that Woodinville’s wine country is just starting to hit home values that can be considered pre-recession values.
The good news is Hollywood Hill is officially showing signs of recovery. For buyers that means, stay in the fight, it is a good time to invest and for sellers your questions about when to sell have been answered. Now is a very good time to sell!
Helping home buyers and sellers since 1989
57 homes sold and closed !
$766,933 – was the average sold price for 2014:
98.57 % was the percent sellers received of their list or asking price.
29 – were the average number of days it took to sell a home.
$248.33 – was the average price per square foot sellers received.
One thing a seller considering selling in 2015 can take away from this data is that homes on average sold in less than 30 days in 2014.
2015 appears to be on a quicker pace. As a seller on the Hill, if your home doesn’t get a showing and doesn’t sell within that 30 day window, you might need to change your strategy. If you tried to sell your home in 2014 and didn’t have success 2015 may be your year.
Buyers should take note that sellers are getting 98.57% of their listing or asking price.
Hollywood Hill has little inventory therefore the best houses are coming onto the market and are sold quickly. Buyers need to be prepared to act. Pre-approval by a qualified lender and working with an agent that knows the neighborhood can be your keys to success.
Lakeshore Realty West
Maureen Nolan – 206-200-9849
This weeks wine for the weekend is vodka made from wine grapes. This vodka is a distilled spirit that qualifies as a festive holiday option instead of wine.
Unique to Washington and the the world Grapeworks Distilling is making vodka from single wine grape varietals like chenin blanc, riesling, gewürztraminer, and pinot gris. Ciroc, made famous by brand ambassador P-Diddy, is a vodka from France that makes vodka from wine grapes, also, but they use a blend of grapes.
Wine grapes destined for vodka follow a similar process to the grapes destined for wine. Once harvested they go through crush and fermentation. Grapeworks sources wine grapes from their own vineyard in Yakima. After fermentation the juice is brought to Woodinville and distilled into vodka using a very fancy, state of the art, Kothe Vodka Still.
Each wine grape imparts it’s own flavor profile to the vodka with flavors ranging from tart citrus and sweet pineapple, to earthy, peppery, spice. The riesling vodka is nothing like riesling wine it is smooth with sweet citrus and floral flavors. The gewürztraminer is not sweet at all but very smooth with notes of pepper.
Sip solo or add to your favorite cocktail or try Food 52’s horseradish bloody Mary made with Grapeworks gewürztraminer vodka for your next holiday brunch.
Grapeworks Distilling took over Woodinville Whiskey’s old location at 16110 Woodinville-Redmond Rd NE. They are open Friday through Sunday noon-5 p.m.