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Top 10 House Flops For Sale in King County

Posted on April 22, 2010January 2, 2012 by The Tim

Since I took the time to take a complete snapshot of all the SFH on the market in King County yesterday, I thought we could have a little more fun with the data.

Here are the top 10 flops in the county by percent decrease from the previous sale to the current asking price. I’m excluding anything where the previous sale was prior to 2000 or less than a year ago. I’m also excluding short sales. While I have filtered some homes out of the list that were obviously just there due to some sort of data entry or retrieval error, some of these may still be due to a lot split or something similar.

Rank Address Last Sale Sale Date List Price % Drop
1 9441 SE 70th Pl, Mercer Island $1,500,000 06.26.2008 $749,950 -50.0%
2 17022 Military Rd S, SeaTac $450,000 08.23.2007 $244,950 -45.6%
3 19908 3rd Ave NW, Shoreline $696,500 04.27.2007 $425,000 -39.0%
4 29305 202 Ave SE, Kent $715,000 02.14.2003 $450,000 -37.1%
5 13050 SE 41st St, Bellevue $1,300,000 08.24.2007 $845,000 -35.0%
6 9148 7th Ave S, Seattle $375,000 12.05.2007 $249,900 -33.4%
7 3612 W Fulton St, Seattle $1,345,000 05.05.2006 $899,000 -33.2%
8 14910 NE Woodinville Duvall Rd, Woodinville $695,000 01.22.2007 $469,000 -32.5%
9 5129 S Morgan St, Seattle $932,500 12.07.2006 $629,500 -32.5%
10 28812 118th Ave SE, Auburn $724,950 10.30.2006 $499,900 -31.0%

And here are the top 10 in the county by the percent drop per year.

Rank Address Last Sale Sale Date List Price % per Year
1 9441 SE 70th Pl, Mercer Island $1,500,000 06.26.2008 $749,950 -31.7%
2 17022 Military Rd S, SeaTac $450,000 08.23.2007 $244,950 -20.4%
3 9148 7th Ave S, Seattle $375,000 12.05.2007 $249,900 -15.7%
4 19908 3rd Ave NW, Shoreline $696,500 04.27.2007 $425,000 -15.3%
5 13050 SE 41st St, Bellevue $1,300,000 08.24.2007 $845,000 -15.0%
6 2399 140th Way SE, Bellevue $1,030,000 12.12.2007 $725,000 -13.8%
7 2030 S Main St, Seattle $295,000 05.01.2008 $229,750 -11.9%
8 14910 NE Woodinville Duvall Rd, Woodinville $695,000 01.22.2007 $469,000 -11.4%
9 5129 S Morgan St, Seattle $932,500 12.07.2006 $629,500 -11.0%
10 629 11th Ave, Kirkland $1,600,000 10.24.2007 $1,200,000 -10.9%

Ain’t real estate grand? It’s like a forced savings account where you can lose ten percent per year, leveraged! Sweet!

Here’s a summary of all the homes that meet the criteria listed above, no matter their listing price to previous sold price ratio.

Flop Stats Snapshot
Total # on market: 2,747
Number of flops: 661 (24%)

Avg. Sale date: Sep. 2006
Average loss: -9.7%
Loss rate: -3.3% / yr

Number of non-flops: 2,086 (76%)

Avg. Sale date: Mar. 2004
Average gain: 35.7%
Gain rate: +4.7% / yr

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Prices Flopping all Across the Eastside
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Tim’s Top Ten of Twenty-Ten

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