Magnolia, Queen Anne, Lake Union/Portage Bay, Laurelhurst/Windermere, Shilshole Bay/Salmon Bay, & West Seattle/Alki
Strong trends on the Eastside indicate lower inventory, shorter days on market and higher sales prices across the board, with some areas showing sales prices exceeding list prices. On Mercer Island total units sold have decreased 44% since 2014, while days on market have also sharply decreased 57.14% on Mercer Island (217 to 93) since 2014. Sales prices on Mercer Island have increased by 25.63% since 2014 ($2.7M to $3.4M).
Clyde Hill - Hunts Point - Medina - Yarrow Point
Four Points represents one of the highest-end waterfront markets available in the entire Seattle & Puget Sound area, comprising the communities of Clyde Hill, Hunts Point, Medina, and Yarrow Point. With an average sales price of other $4 million, Four Points offers a truly luxurious waterfront lifestyle.
Even with high asking prices, Four Points is showing the same general trend seen in all markets of much lower days on market compared to 2014 and 2015, with an almost 75% decrease since last year (282 days vs. 72 days).
Bellevue waterfront sales are not occurring with as much frequency as other areas on the Eastside but the sales that do occur are all in the multi-million dollar range. With only two sales this year, one at $4.68 million and one at $1.7 million, this is a market strictly for the high-end, with average square footage of 4,910 and price per square foot at $631.25. In fact, the most drastic change from 2015 to 2016 is the decrease in days on market. First half 2015’s one home sale was on market for just 181 days, compared to an average of just 53 for the two sales in 2016.
Strong trends in Kirkland/Juanita indicate lower inventory, shorter days on market and higher sales prices across the board. Total units sold have decreased 44% since 2014, while days on market have also sharply decreased 42.19% (average of 64 to 37) since 2014.
In Kirkland, although sales prices are very comparable to what they were in 2015, the high sale in 2016 so far is $3,955,160 compared to a high of only $2,937,500 in 2015. On the Eastside, Kirkland/Juanita stands out with an average square footage of 1,500+ compared to 4,000+ in all other areas. Because of this, Kirkland’s average sales price is the only one under $1M on the Eastside.