This home is such a fun one to tour.  A welcome surprise to find new finishes on a quiet, established street in Winslow.  This home has undergone an amazing transformation; new entertaining kitchen, new baths and new hardwood flooring are just the beginning.  And it is all on one level, and walkable to all the great things in Winslow.  Come see for yourself on Saturday from 1-4pm instead of Sunday as Sunday is Mother’s Day ;)

1002 Nakata Ave NW on Bainbridge Island Liste by Jen Pells Windermere Bainbridge

1002 Nakata Ave NW on Bainbridge Island.

1002 Nakata Ave NW on Bainbridge Island listed by Jen Pells of Windermere

The great room showing new wood floors and custom propane fireplace.

1002 Nakata Ave NW on Bainbridge Island listed by Jen Pells of Windermere

Amazing entertaining kitchen with quartz counters, stainless steel appliances and quality fixtures.

1002 Nakata Ave NW on Bainbridge Island listed by Jen Pells of Windermere

Great coffee bar or cocktail bar in the large kitchen.

1002 Nakata Ave NW listed by Jen Pells of Windermere Bainbridge

Master bedroom suite has a full spa-like bathroom and extra large den; a great space for a private office or sunny exercise room.

1002 Nakata Ave NW on Bainbridge Island listed by Jen Pells of Windermere

Spa like master bathroom with double sinks and large custom tile shower.

1002 Nakata Ave NW on Bainbridge Island listed by Jen Pells of Windermere

Private, fenced backyard with mature and colorful plantings.

Details about the home:

  • 3 bedrooms with a den off of the master suite
  • 2 bathrooms
  • 1,866 square feet all on one level and vaulted throughout
  • .23 of an acre
  • Large, entertaining kitchen
  • Complete cosmetic remodel of home – including new window package and exterior doors
  • Clean lines with high end modern finishes and fixtures
  • Mature landscaping in private, fenced backyard
  • Walkable to Winslow and no HOA dues (plus you have a fenced yard and garage)
  • $748,000 asking price

Impressive modern remodel of this one-level, open-floorplan home tucked away on a quiet street in the heart of Winslow. Vaulted ceilings and clerestory windows highlight the new entertaining kitchen with quality cabinetry, stainless steel appliances and quartz counters. Great room with a custom propane fireplace and wood floors opens to a private backyard with colorful, mature landscaping. Spa-like finishes in new baths. New window package and paint. Close to shops, pool, library, schools, parks and ferry.

Click here to see the full Windermere listing detail.

Visit this home’s dedicated website here.

On May 12, 2017, in Homes, Listing, Neighborhoods, Open Houses, by

The 2017 market is slowly beginning to take hold, so before it does I wanted to make sure I crafted one of my favorite blog posts, my top 10 homes on the island for 2016. Last year 369 homes sold on the island.  I am proud to say I personally toured most of them and these are ten of my favorite homes. The list actually spans the island geographically from north to south and represents the various price ranges.  The sales prices have shifted as prices have moved up, however. Although the top sales number on my list is almost $3M, only two on the list are waterfront homes, which shows the value, beauty, and desirability throughout our island; from inland rural settings, to in-town neighborhoods, to views, to waterfront.

The lack of inventory continued to be the dominate theme in 2016, which is why you will see some multiple offers noted below.  Last year the multiple offer situation even crept up over the $1M mark, in several cases, which is a bit different from years past.

This is my 9th annual list.  To get a feel of the homes I like personally and see all nine of my lists in one place, click here.  Enjoy!

 

Toe Jam Hill Rd Sold by Jen Pells - Jen Pells' Top ten List of homes sold on Bainbridge Island for 2016

#10 | Toe Jam Hill Road

#10

Original List Price $528,000

Sale Price $662,500 (multiple offers)

Days on Market – 8

Date Sold 6/30/2016

Click here for more photos and the full listing detail.

For #10 we start on the extreme south end of the island on Toe Jam Hill Road.  This home came on the market in the frenzy of the summer market and I believe had six offers.  The home is perched high above a ravine and the interior style is beautiful, yet simple. Cork floors, Paperstone counters, floating walls, and built-in desks sum up the style.  The design style seems to run parallel to Sarah Susanka’s Not So Big House concept.  At just over 2,000 square feet the home still lives large, making use of every inch.  My clients were the successful buyers in the multiple offer situation and love the unique property they now call home.

Jen Pells' Top ten List of homes sold on Bainbridge Island for 2016 | Real Estate on Bainbridge Island

#9 | Village Circle

#9

Original List Price $749,000

Sale Price $749,000

Days on Market – 5

Date Sold 8/8/2016

Click here for more photos and the full listing detail.

For #9 we move into Winslow to Village Circle. In-town homes were in high demand last year (I don’t see that changing in 2017).  Price per square foot is highest in Winslow, where you trade lot size for the convenience of walking to Winslow and the ferry.  Hillandale (Village Circle) is one of my favorite in-town neighborhoods and this home has some of the best curb appeal in the hood.  Fabulous gardens and a meticulously cared for home.  The neighborhood was designed by Dick Allen, a developer who put care and thought into building a small community, not just a house.  The neighborhood has shared open space and trails that connect to town. This home is also just over 2,ooo square feet and was listed at the end of the summer and quickly acquired one great offer.  The timeless Colonial style of all the homes in the neighborhood and the creative weather vanes on each home have made it a favorite for buyers since it was developed back in 1999.

Jen Pells' Top ten List of homes sold on Bainbridge Island for 2016 | Real Estate on Bainbridge Island

#8 | Rose Avenue

#8

Original List Price $918,000

Sale Price $918,000

Days on Market –  12

Date Sold 1/29/2016

Click here for more photos and the full listing detail.

For #8 we move back down south to Rose Avenue in the Eagle Dale Neighborhood of the island.  This charming Craftsman struck a cord with me because of the bucolic acre it sits on and because of the stylistic interior the talented home owner created.  I loved the Carrera marble counters in the kitchen and the striking wallpaper throughout.  I also loved how the owners mixed mid-century modern decor into a Craftsman home.  I thought it worked well.  The vaulted ceilings upstairs make for interesting spaces for the bedrooms and the guest suite over the garage adds to the package.  This home came on early into the new year and a few of us felt it was priced a bit high, but after only 12 days on the market they found a happy buyer.

Jen Pells' Top ten List of homes sold on Bainbridge Island for 2016 | Real Estate on Bainbridge Island

#7 | Palomino Drive

#7

Original List Price $865,000

Sale Price $962,000 (multiple offers)

Days on Market – 6

Date Sold 3/11/2016

Click here for more photos and the full listing detail.

For #7 we stay on the south end, but move over to the west side, to Palomino Drive, which sits above the Crystal Springs Neighborhood. This home was priced low (in my educated opinion) and saw 4 or 5 offers and as you can see escalated almost $100,000. This home has a solid feel with lots of woodwork inside and  a classic cedar shingle exterior, but most importantly to me anyway, it has a very nice west facing view of the Sound. Oh those colorful sunsets! The home is over 3,600 square feet, has four bedrooms and a supreme shop in the basement.  I thought back to this home a lot in 2016 as one of the better values for the year.

Jen Pells' top ten List of homes sold on Bainbridge Island for 2016 | Real Estate on Bainbridge Island

#6 | Summer Hill Lane

#6

Original List Price $980,000

Sale Price $1,150,000 (multiple offers)

Days on Market – 7

Date Sold 10/31/2016

Click here for more photos and the full listing detail.

For #6 we move to the center of the island for Summer Hill Lane.  This home oozes charm.  It is a rare package in that it is a small home on a large piece of land, 1,715 square feet home on 2.5 flat acres.  And the main home is all on one level, plus a guest suite over the garage.  The lovely sunny garden setting, vaulted ceilings, exposed beams, Saltillo tiles, and classic white kitchen made me want to move right in – I really do love a white farmhouse.   I have said before that charm can be hard to find on the island.  When this home was listed said charm brought many buyers looking and five put forth offers.  The resulting escalation in price was dramatic at $170,000 over asking price.

Jen Pells' top ten List of homes sold on Bainbridge Island for 2016 | Real Estate on Bainbridge Island

#5 | Point Monroe Drive

#5

Original List Price $1,289,000

Sale Price $1,289,000

Days on Market – 6

Date Sold 7/7/2016

Click here for more photos and the full listing detail.

For #5 we move to the northeast side of the island on Point Monroe Drive, commonly known here on the island as the Sand Spit. This waterfront home indeed sits on a narrow spit of land that juts out from Fay Bainbridge Park.  Here’s a link to a good aerial image of the spit.  This particular home is at the beginning of the U, closer to Fay Bainbridge.  The lot spans the entire spit and has waterfront on both side – one side the lagoon on the inside of the loop and the other the open waters of the Sound. The views of Mt. Baker and Seattle are crisp and stunning.  This home is bathed in beachy white tones and coastal coolness.  This home is also the rare low bank waterfront home – think sand and driftwood – available for sale under $1.5M. Wow. Not, a large house at just under 2,300 square feet but it has all the required spaces, three bedrooms and open concept living spaces. My favorite room is the large master suite upstairs that captures the primo views.

Jen Pells' top ten List of homes sold on Bainbridge Island for 2016 | Real Estate on Bainbridge Island

#4 | Watch Hill Drive

#4

Original List Price $1,450,000

Sale Price $1,360,000

Days on Market – 30

Date Sold 6/24/2016

Click here for more photos and the full listing detail.

For #4 we stop at Watch Hill Drive on the very south end of the island above South Beach Drive.  This unique home wowed me from the photos and I was not disappointed in person.  I was also not surprised to learn that this home was once on the island’s garden tour, Bainbridge In Bloom.  Lovely landscaping and traditional beds all overlook a southwest vista of Puget Sound and the Olympic Mountains. Plus terrific sun!  It is no wonder a wedding has been hosted here. The large 4,700 square foot home is separated into a master suite wing and a “kid” wing.  With two older kids I loved that, but some clients I showed it to with younger kids did not love that separation.  James Cutler designed the classic northwest style of the home.  I love the wood beams and rich, yet comfortable feel of the entire home.  I still think about this one a lot . . .

Jen Pells' top ten List of homes sold on Bainbridge Island for 2016 | Real Estate on Bainbridge Island

#3 | Knight Road

#3

Original List Price $1,425,000

Sale Price $1,385,000

Days on Market – 7

Date Sold 10/31/2016

Click here for more photos and the full listing detail.

For #3 we go back up north to Knight Road where this home makes its second appearance on my list.  This home was built by popular home builder Jefferson Fine Homes and designed by the highly sought after architect Peter Brachvogel.  Sited on over three private acres, this 3,700 square foot home exudes high quality craftsmanship inside and out.  Walls of windows, tall ceilings, and an open floor plan piqued the interest of many buyers again in 2016, just like it did in 2013.   The architect, Peter Brachvogel, created thoughtful spaces like a cozy media room set just off the kitchen, a large mudroom/laundry room with built-in lockers (my favorite space), and a remote full guest suite on the main level plus convenient bonus space over the garage.  The current owners fenced and defined the garden spaces and appeared to have taken fantastic care of the home.  It remains in excellent condition and sold for $283,000 more than it did in 2013.

Jen Pells' top ten List of homes sold on Bainbridge Island for 2016 | Real Estate on Bainbridge Island

#2 | Watch Hill Drive

#2

Original List Price $1,598,000

Sale Price $1,750,000 (multiple offers)

Days on Market – 6

Date Sold 6/14/2016

Click here for more photos and the full listing detail.

For #2 we go back to the the south end and back to Watch Hill Drive.  There are only five homes on Watch Hill Drive and two of them sold last year and they both made my list.  This second home was designed by architect Bob Maloney and its classic Colonial style is not one you see too often here on our island – although there seem to be a few on my list.  So, it too saw multiple offers.  Five.  The 4,300 square foot floorplan with all bedrooms upstairs, open living spaces on the main level and a guest suite and family room in the walk out basement made so much sense for so many buyers.  Not to mention that it has a striking view of Puget Sound and the Olympics, lightly filtered by interesting Madrona trees all on over 2.6 acres of gated property.  My clients were thrilled to prevail in this multiple offer situation and have already made some fantastic improvements to make this fine house their home.

South Beach Drive Sold by Jen Pells - Jen Pells' Top ten List of homes sold on Bainbridge Island for 2016 | Real Estate on Bainbridge Island

#1 | South Beach Drive

#1

Original List Price $2,995,000

Sale Price $2,900,000

Days on Market – 31

Date Sold 5/3/2016

Click here for more photos and the full listing detail.

For #1 we don’t go far, just down to South Beach Drive.  I love a home built by Jerry Reese and I seem to sell a few of his every year.  This one is indeed one of my very favorites.  I love the light on the south end and I love the walking trails along the water in Fort Ward Park. This home is right in the heart of the good things on the south end – one of my favorite stretches of the island for walking and jogging and taking in Mt. Rainer views. The 3,900 square foot home is reminiscent of homes in the Hamptons.  Again, not something you see a lot of here in the Pacific Northwest, so very appealing to buyers when available.  A large white kitchen is sited to take in the best views and a detached guest house is almost more charming than the main home.  The entire package is on low bank waterfront on the south end, a pretty amazing find for my lucky buyers who are now thrilled to be calling this home.

Again, to get a feel of the homes I like personally and see all nine of my lists in one place, click here.

Bainbridge Island Real Estate Jen Pells Windermere Bainbridge

That Was Fast

Today much of our world (the island) went back to work and school after the two week winter holiday season.  We put the 2016 real estate market to bed only last week and jumped into the 2017 market today at out first office meeting.  Last year seemed fast and furious, although as you can see below the volume of sales, overall, was on par, if not slightly less than 2015.  The lower inventory with the steady stream of buyers meant more multiple offer situations, hence the frenzy I am still feeling from 2016.

More Money Moving to the Island

Many buyers were downsizing out of higher priced markets (California, Vancouver BC, Manhattan, even Bellevue) into our island’s luxury homes, sometimes at half the price.  The fact that the Pacific Northwest and Bainbridge Island, specifically, is still a relative bargain over places like California will keep the market going strong into 2017, I predict.

Land Under Construction

Land volume was down in 2016, but several large parcels acquired in 2015 are now being developed into neighborhoods like the DR Horton neighborhoods on Wyatt and Weaver. Those developments will help relieve the inventory shortage a bit.

Bainbridge Island Real Estate Jen Pells Windermere BainbridgeChart Your Own Course

The market is always changing.  Whether you are a buyer or seller there are strategies to consider for your success.  We are a very seasonal market (most activity in the summer). Depending on your goal knowing the ins and outs of timing and preparation as you enter the market (as buyer or seller) can translate into thousands of dollars saved or earned. Being a buyer or seller in the slower shoulder market can be advatageous for some, although waiting until peak summer market could be better for others.   If you are thinking about jumping into the market in 2017, let’s chat.

 

 

2016 Real Estate in Numbers

 

369  total single family home sales (378 in 2015)

 

104 condo sales (90 in 2015)

 

169 sales under $700,000 sales price (205 in 2015)

 

94 sales over $1M sales price (72 in 2015)

 

26 sales over $1.5M sales price (25 in 2015)

 

$5,970,000 top home sales price ($3,025,000 in 2015)

 

$740,000 median home sales price ($666,000 in 2015)

 

$177,000 lowest home sales price ($66,000 in 2015)

 

2,744 sq ft average size of homes sold (2,774 in 2015)

 

49 pieces of land sold (68 in 2015)

 

$2,500,000 top land sales price ($3,360,000 in 2015)

 

$222,000 median land sales price ($235,000 in 2015)

 

$20,000 lowest land sales price ($60,000 in 2015)

 

2.62 acres average size of lots sold (1.85 in 2015)

All data taken from the NWMLS as of 1/3/2017.

North Town Woods Neighborhood on Bainbridge Island - Jen Pells Bainbridge Agent

The North Town Woods Neighborhood on Bainbridge Island.

Just the Facts

It’s election season, which means we hear assertions from candidates that sometimes warrant a bit of fact-checking. The same rules apply to real estate. At Windermere Bainbridge, we’ve heard a lot of mis-perceptions and embellishments about the state of our local market. “The bubble is bursting!” “Prices are being slashed!” “Prices are going up!” “Our market has peaked!” “Our market has gone crazy!” We’ve heard all this and more. So we’re here to set the record straight. Think of us as your real estate fact checkers. The fact is we are in the midst of a very healthy (not crazy) market that is moving in a manner we have been predicting for some time. Let’s explore the specifics.

ASSERTION: “Sales are down compared to last year and we are moving downward!”

FACTS: We have said for some time that the lack of inventory was holding our sales in check. When we started the 2016 business year (on January 4th to be exact), there were 53 houses available on all of Bainbridge Island. The first quarter ended with only 47 homes available. This lack of choices crippled sales and reflected a 21% drop from first quarter 2015 sales. But this lack of inventory also helped push prices up, bringing more sellers into the market. Consequently, our inventory began to grow, which meant sales did too. By the end of the second quarter, inventory had grown to 92 homes. (Still low compared to Q2 2008 when we had 291 homes available, or to 2012 when the recovery had set in and we had 189 homes available.) Our year-to-date sales number also dropped from 21% down to 15% by the end of the second quarter. Now, with the third quarter wrapped up, our available inventory is 98 homes (compared to 77 last year at this time) and the number of third-quarter sales rose by almost 5%. Hardly a sign of a decreasing market.

North Town Woods Neighborhood on Bainbridge Island - Jen Pells Bainbridge Agent

The Leslie Landing Neighborhood on Eagle Harbor on Bainbridge Island,

ASSERTION: “Prices are being slashed!”

FACTS: It’s true we are experiencing price reductions. This is a normal phenomenon created by sellers being unrealistically optimistic and buyers being informed and disciplined. The demographics of our marketplace bring more experienced buyers than many other markets. They are informed, know the risks of overpaying, seek professional advice and are careful. It’s like the old expression, “It’s the seller’s job to ask and the buyer’s job to say no.” Here also, sellers who seek (and listen to) competent professional advice in pricing will often experience less disappointment, along with a quicker and often more profitable experience. (There are reams of data showing that properly priced homes net more than overpriced homes that adjust downward.) Prices are still rising. The median price is up 17% from last year. The median price of homes sold during the third quarter this year was $765K, compared to $648K last year. This strength is reflected in the shift of sales in specific price ranges. There were 47 sales below $600K in the third quarter last year, but only 35 this year. Conversely, sales over $600K grew from 61 in 2015 to 78 this year! This indicates a shift upward in the prices of all homes. Hardly a sign of falling prices.

Bainbridge Island Real Estate 2016 Jen Pells

A new home built by Freestone, in the Stetson Ridge Neighborhood, on Bainbridge Island.

ASSERTION: “Prospects for new inventory are stagnant!”

FACTS: Developers from all over the nation are eagerly investing in our market, which is also a signal of strength. Two new home projects are currently being marketed in Wing Point and a project by DR Horton is under construction on Wyatt Way. The “Roost,” Grow Village Phase 3 and another DR Horton project at Torvanger/Sunrise are coming out of the ground. The long anticipated project at Pleasant Beach Village will start next month and another neighborhood at Weaver and Finch are in the planning/design phase. These projects will continue to bolster inventory and provide our healthy buyer pool even more choices. Hardly a sign of stagnation.

Bainbridge Island Real Estate

A townhome/condo in The Winslow Mews on Bainbridge Island.

ASSERTION: “The condo segment is too limited to grow!”

FACTS: Our condominium market is experiencing similar strong activity. At the end of the third quarter last year there were 5 active condominium listings; this year there were 26 available. Last year, 25 condos sold during the third quarter; this year 42. And prices are up over 8%. As home prices continue to rise, condos provide attractive alternatives. Pleasant Beach and Grow Phase 3 are both great examples of single family home alternatives in areas where services and amenities are concentrated. They are both examples of our comprehensive plan to enable growth while maintaining our rural feel. Hardly a sign of a weak market segment.

We are very happy with our current conditions and don’t see anything on the horizon that would likely disrupt the trend in the near future. Crystal balls are dangerous (we certainly learned that in 2007/2008) but our region shows every indication of continued strength. Seattle is strong and more and more people are trying to escape from the challenges of its growth. Kitsap is also strong, with sales up and growing. Barring some big surprise, we see strength continuing at least through next year. The Bainbridge real estate market is looking good, and that’s a fact!

Bainbridge Island Real Estate Market 2016 Jen Pells Windermere Realtor