Mercer Island waterfront real estate sales are on pace this year to triple 2009's sales numbers. With three Mercer Island waterfront homes sold in November, the total for the year comes to 29.
In 2009 there were just 9 waterfront homes sold on Mercer Island at this point in the year. While that was a particularly bad year for luxury real estate sales, 2010's improvements haven't been seen this strong nearly anywhere else. In fact, 6 homes were sold on Mercer Island's waterfront in October alone.
The three sales this month may be a dropoff relative to October, but they're actually a very strong month for total sales numbers. Mercer Island waterfront buyers have clearly decided that we've hit the bottom in their market.
The most affordable waterfront sales was a home in The Lakes neighborhood, in the middle of Mercer Island. The homes in this neighborhood are on small, man-made lakes and create a lower-priced opportunity to be on the water. This $900,000 home is a 1980s-built house that sold after just three weeks on the market.
On Lake Washington waterfront, the next sale was a "shared waterfront" home with moorage. At just under $1.5 million, it sold after 3 months on the market. I toured this home with clients, it's a beautiful architectural design, allowing a home owner to have a secluded, forest-type setting while still having Lake Washington moorage just at the end of the street.
The last sale was a $4.1 million home that was marketed for almost five months. The half-acre estate has 160 feet of waterfront footage, and a grand home of almost 8000 sq ft. Large yacht moorage, a sport court, and West-facing views make it a prime piece of Mercer Island waterfront.
Mercer Island Waterfront Real Estate - Waterfront Homes Sold, November 2010
Address Price Days on Market Beds Baths Sq Ft Date Sold
7530 80th Place SE Mercer Island $900,000 22 4 2.5 2,740 11/12/2010
8384 SE 50th Place Mercer Island $1,470,400 93 4 3.25 4,480 11/26/2010
8463 W Mercer Wy Mercer Island $4,100,000 141 5 5 7,860 11/10/2010
Comments(1)