Market Spotlight: East of Lake Sammamish
NWMLS Area 540 extends from the eastern shore of Lake Sammamish to the eastern border of King County in the Cascade Range. It includes Issaquah north of I-90 (where Costco is headquartered), as well as the city of Sammamish, the towns of Snoqualmie and North Bend, and the census-designated place of Fall City. Skyline High School in Sammamish and Mount Si High School in Snoqualmie are among the state’s topranked public high schools according to U.S.News & World Report. Housing in this area is predominantly single-family, with SFRs comprising 68.9 percent of homes in North Bend, 85. 5 percent in Snoqualmie, and 93.0 percent in Sammamish in 2015. The area has been a consistent seller’s market over the past three years, with inventory loosening in January and tightening each spring.
The duration of supply averaged 39 days in 2015, 55 in 2014, and 54 in 2013. Despite wide-ranging types of communities comprising this area, the median sale price east of Lake Sammamish was 35.4 percent higher in 2015 than that of King County generally. At 10.4 percent, sellers in 2015 enjoyed stronger year-over-year gains than those in 2014. The profile of deviation from listed prices is markedly similar to that found south of I-90, as prices in both areas are equally consistent with the countywide trend. This is especially true in the area north of the freeway, as prices have not appeared to vary frequently by more than one percent from list.