The pace of waterfront transactions has been slowing over the past few quarters, driven in large part by fewer international buyers in the market. Even so, Q1 was markedly off for waterfront sales. The Eastside had 3 private waterfront home sales. Seattle had 8, Mercer Island had 2, and Lake Sammamish had no sales in the first three months on 2020.
The highest private waterfront sale in Q1 was on Lake Washington in Medina at $11.5 million. The most affordable waterfront sale was a $1.5 million Beach Drive West Seattle home with 22 feet of waterfront on Puget Sound. Note this report includes privately-owned, rather than shared, waterfront transactions only.
This top-level overview of the entire Seattle-Eastside private waterfront market, including Mercer Island and Lake Sammamish, provides a glance into the trends occurring in our region over time. Interesting, and certainly insightful, it in no way replaces an in-depth analysis on waterfront value provided by a savvy broker with years of local waterfront experience.
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© Copyright 2020, Windermere Real Estate/Mercer Island. Information and statistics derived from Northwest Multiple Listing Service and deemed accurate but not guaranteed.