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2026-08-12
First look at Issaquah: a cash offer nobody saw coming
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First time writing to you about Issaquah, and the market out there did not make it a quiet debut. Below: the $5.3M cash sale that closed in Issaquah Highlands last month, what the numbers say about who is actually buying out there right now, and where I'd send you hiking this weekend if you asked.
Confluence Park in Issaquah
The $5.3M cash sale everyone in Issaquah Highlands is still talking about
A 9,440-square-foot place up in Issaquah Highlands went for $5.3M, cash, in 37 days on market. Built in 2014, five bedrooms, five and a quarter baths, hot tub, hardwoods throughout, a view lot. It listed at $5.7M and still moved fast enough to make agents talk.
That was not a one-off up there. A second Issaquah sale closed six days later for $1.85M cash, just 4 days on market.
Fast and cash-heavy is not the whole story though. The same week as that $5.3M sale, another Issaquah Highlands listing finally closed at $635,000 after sitting 188 days on market. The top of the market and the rest of it are not moving at the same speed.
Nice Kitchen! And I rarely care much about the Kitchen so long as it is a gas stove
The Issaquah Report
| MARKET | the numbers came in for May: median sale price $1.08M, up about $115K from April. 159 homes active, 52 sold, and things are moving in about two weeks. |
| RATEWATCH | my lender friends are quoting 6.69 on a 30-yr this week. on a $750K loan that pencils to about $4,850 a month. |
| PROPERTY | Why would a newer construction $635,000 home sit on the market for 188 days? |
| WEATHER | partly sunny, high near 85. |
| SUNRISE | 5:59am |
| SUNSET | 8:27pm |
| MOON | new moon |
| WATER TEMP | Lake Washington 72°. genuinely swimmable. |
| SEASON/SKY | smoke has drifted in off the fire on the east side, so some afternoons the sky goes hazy gold instead of blue. check air quality before you commit to a long hike this week. |
Northwest Pulse
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A humpback whale was observed Friday near the Vashon Island area, giving you a chance to watch for marine activity this weekend. |
| ☀ |
Saturday's UV index reaches 7 near Puget Sound, so plan outdoor time before 10 a.m. or after 4 p.m. if you're heading out. |
| 🐻 |
Heads up: a black bear was reported near Fall City recently (verified on iNaturalist). Keep pets and trash secured. |
Come Find Me There
I'll be at Cafe Juanita in Kirkland on Wednesday, 8/12 at 3pm. No list, no RSVP, just come find me and say you read this. I'll be the one ordering too much.
Tap to call Cafe Juanita · find it on the map
Featured Neighbor
This week it is Sonny Halbawy, a builder with deep commercial experience who still builds custom homes across the Pacific Northwest. When water gets into a house and turns into mold, he is the one doing the remediation work most people hope they never need. And when he is not working at all, he is flying around Mount Rainier. I had the privilege of hopping into a Cessna with him and my daughter, and I have not stopped talking about it since. If you are building, fixing, or just dreaming about a project, you want to know Sonny.
Happenings
| SAT | Issaquah Farmers Market. downtown at the foot of the Alps, good excuse to pair it with a morning hike. |
| SUN | Poo Poo Point (Chirico Trail). steady climb up Tiger Mountain to the paraglider launch, wide Issaquah Valley view. |
| Margaret's Way and Debbie's View. forested switchbacks up Squak Mountain to a clearing that looks toward Rainier, quieter than the Tiger trails. |
The Upcoming List
Homes I know are coming up for rent before they hit the market. Readers see them first — some never list anywhere else.
Open this week's list →
this link is yours — it changes with every letter
What Else I Do
Most of what I do is get properties listed, and listed well. Whether you're selling a home or leasing one out, I run a seven-day listing launch. When you want to move fast, I can take you from first call to live in seven days. Some homes need a little prep first, and I'll tell you that straight the day we meet.
A few other ways to work with me, whenever you want them.
Thinking of selling? Let's sit down and look at what your home would actually do in this market right now. Real numbers, and a plan.
Leasing it out? I don't just sell homes. I'll get your place rented to a qualified tenant and run the listing the same seven-day way.
Buying? Let's meet, talk through what you're really after, and build a game plan before you fall for the wrong house.
Building, remodeling, or fixing a problem? A full remodel, mold remediation, or a brand-new home from the ground up. I've got a deep network of builders, contractors, and specialists I trust, and I'll help you quarterback the whole thing. Tell me what you're facing and I'll point you at the right people.
Just looking to rent? See what's ready right this minute. Take a look here.
No funnel. Just reply.
Talal
P.S. Ask me anything about the market. Reply to this email with your question and I'll answer one of them out loud in next week's letter.
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Talal Pharoan, John L Scott Broker
425.230.6655 · pharoan.com |
