The waterfront real estate market in Seattle continued to top 2009's sales numbers with 6 waterfront home sales in June and 5 of those being traditional houses. While the total sales are down slightly from the 8 sales in May, we're still significantly higher every month this year than we were in 2009.
In May of ‘09 we had a half dozen waterfront home sales in Seattle. All but one of those sales, however, were houseboats and floating homes, which average much lower sale prices than traditional waterfront houses. This June there was just one houseboat included in our numbers and all of the houses were $1 million+, which made the median sold price fairly high at $1.6 million.
While the general Seattle real estate market seems to be in a bit of a lull, waterfront sales seem to have slowed from their breakneck pace in Spring to a healthy trot this summer. There area clearly still a lot of buyers with the ability to purchase waterfront real estate in this market, and they're negotiating for the best prices possible.
Waterfront home sellers may take these price discounts as a bad sign, but the overall market has really benefitted from the past 6 months' activity and established a new pricing model for them to follow. We really had very little guide in 2009 with the dearth of quality sales data, so the current sales are giving everyone a bit of a meridian for the next six months of waterfront real estate pricing.
Seattle Waterfront Real Estate Sales, June 2009
Address
Beds, Baths, Sq Ft, Sold Price
11045 Arroyo Beach Place SW
3 3.5 3,050 $2,200,000
2915 Harris Place S
3 2.5 1,910 $400,000
3736 W Commodore Way
5 2.75 3,930 $1,350,000
2481 Perkins Lane W
2 1.75 2,520 $1,600,000
2401 N Northlake Wy #9-E
1 1.5 620 $249,138
357 NW 113th Place
3 2.5 2,626 $540,000
10305 Bedford Ct NW
4 2.5 3,136 $1,100,000
4408 55th Ave NE
6 3.75 5,450 $2,500,000
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