Sales of waterfront homes in Seattle have continued to rise this summer, as the constricted number of available homes has finally begun to ease. While real estate inventory is rising across the waterfront and the entire local market, sales of waterfront homes are increasing at a rate nearly as fast as the pace of new listings.
77 waterfront homes have been sold in King County so far in July. That number is likely to rise as the last few days of the month's closings are recorded. This number already represents a 26 percent increase over June, and a stellar statistical month for the Seattle waterfront market.
We have to go back to the summer of 2007 to find this many waterfront homes being sold in one month. Just before the peak of the Seattle market we saw 70-80 waterfront home sales in May and June, but the market hasn't touched those numbers since.
For all the talk of Seattle's ultra-hot market beginning to slow, the waterfront doesn't seem to be cooperating. The end of summer will always bring the natural cyclical slowdown but, for now, record sales continue to boost waterfront competition and home prices.
© SeattleHome.com: - Sam DeBord, Managing Broker, Realtor
State Director, Washington Association of Realtors
Coldwell Banker Seattle: Coldwell Banker Danforth & Associates
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com
Source: NWMLS Stats - The Northwest Multiple Listing Service did not compile or publish this information.
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