Q3 2017 REVIEW
The most active quarter of the year for waterfront in the Seattle region, Q3 saw two very distinctly separate markets. The more moderate waterfront price points below $4 million experienced an increase in the number of homes for sale while the pace of sales slowed. Turn-key homes with desirable waterfront access were few and far between and many buyers appeared unwilling to purchase a home that didn’t measure up to their expectations.
A number of highly coveted waterfront homes or settings transacted in the $4-10 million price point for top dollar, some after relatively short market times. Clearly, buyers at this price point know what they want and aren’t afraid to go get it. Two homes sold above $20 million on the Eastside, skewing the overall Eastside averages significantly.
The highest waterfront sale in the Seattle-Eastside region ($23.4 M) was a traditional 2015-built home in Medina on 1.84 acres with 80 feet of prime waterfront. The lowest sale ($1.5 M) was a 2330 square foot home in Kennydale built in 1931 and sited along 59 feet of south Lake Washington shoreline.
A total of 52 private waterfront sales transacted in the Seattle-Eastside region in Q3.
Check out the full Waterfront Report for a complete list of waterfront home sales by address and community.
© Copyright 2017, Windermere Real Estate/Mercer Island. Information and statistics derived from Northwest Multiple Listing Service.