How Is The Current Seattle Floating Homes Market Compared To 2005?
This was a question I got this week via email so I will share the info with you, too.
Actually, the answer is interesting and since I keep hearing brokers around Seattle talking about 2005 prices and comparing them to where we are now, I think it is a good note to pass on on the differences between traditional Seattle real estate and Seattle floating homes.
Keep in mind before I give you these numbers that this market is SMALL. In fact, I have had people not to me that they hoped I had other sources of real estate income besides floating homes because they are a "difficult market". Exact words...from a competitor. The fact of the matter is, though, that there are around 500 Seattle floating homes on Lake Union and Portage Bay. This does not include Seattle houseboats which are vessels (boats) or barges. It is a small market and turnover is LOW. People who live on floating homes tend to stay.
2005 Numbers -
12 Seattle floating homes sold
Avg $/sq foot $570.94
High Sales Price: $1,303,000
Low Sales Price: $312,500
Median Sales Price: $562,000
2010 Numbers -
13 Seattle floating homes sold
Avg $/sq foot $707.44
High Sales Price: $2,080,000 (Molly & I sold it:))
Low Sales Price: $350,000
Median Sales Price: $740,000
The numbers between these years went up and down again, but overall, we are still higher than we were n 2005 today for Seattle floating homes sales. There were a total of 71 Seattle floating homes sold via the MLS in years 2005 thru 2010.
Let us know if you want to see any Seattle Houseboats!
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