Home sales on Bellevue's waterfront made another incremental gain during 2011. While the luxury and waterfront markets nationwide are grinding their way back to healthier levels of sales, we're seeing a similar trend across the greater Seattle market.
Sales of waterfront homes on the Eastside increased in general in the past year. Bellevue, in particular, held strong with 50 waterfront home sales (these Bellevue sales do not include homes in Medina, Hunts Point, Yarrow Point, and Beaux Arts which are all sometimes referred to as "Bellevue waterfront homes").
The number of multi-million dollar waterfront homes sold in Bellevue decreased in 2011, with 9 homes over $2 million sold as compared to 12 in 2010. This is partially due to a smaller pool of buyers at the upper reaches of the market, as well as price decreases over the last few years lowering the aggregate pricing of the luxury market.