If you’re looking to buy a home in Mercer Island or West Bellevue, don’t miss this weekend’s progressive open house event. Passport to Luxury, a showcase of a dozen recently completed high-end homes, will take place this Saturday and Sunday, July 20 and 21, from 12 to 4 p.m.
The homes on the tour are all built by JayMarc Homes, a local developer that in the last decade has become one of the area’s biggest builders of single-family homes. The selection being showcased on the Passport to Luxury tour range from five to seven bedrooms and start at the low $2 millions to more than $4 million.
“We’re thrilled to showcase this premier collection of homes at the height of the summer sales season,” Mark Rousso, president of JayMarc Homes, said in a statement. “At a time of rising consumer confidence and lowering interest rates, we’ve delivered 11 contracts for new homes since March alone, and now we offer a new collection of premium residences in the midst of this excitement in the market.”
While median home prices in King County have dropped 2.3 percent since June of last year, median home prices in June have jumped 15 to 16 percent year-over-year in Mercer Island and West Bellevue, respectively. This growth can likely be explained by the area’s nationally ranked public-school districts, the myriad jobs brought by Bellevue’s tech boom, and the connection that will soon be offered by Sound Transit’s LINK light rail expansion into Bellevue and Mercer Island.
“West Bellevue and Mercer Island are two of the high watermarks in the regional metro area,” said Dean Jones, president and CEO of Realogics Sotheby’s International Realty, which has partnered with JayMarc Homes to present Passport to Luxury. “These are unique real estate microclimates that are bucking the regional trends, and values are continuing to expand.”
Interested brokers and homebuyers are welcome at the progressive open house this weekend, during which they will receive a “passport” that they can get stamped at each home they visit. Fully complete passports will be entered for a prize drawing in July — the winner of which will get an all-expenses-paid trip to Loreto, Mexico. Homebuyers who buy in the month of July will also be offered a $25,000 buyer bonus.
This evening, July 18, there will be an open house preview reception for brokers from 5 to 8 p.m. at the Delhi Estate (8520 NE 25th St., Clyde Hill), which will feature a discussion about the state of the Eastside residential market.