Hunts Point - Kirkland/Juanita - Medina
Mercer Island - Newport Shores - West Bellevue
Here we treat Bellevue west of I-405, the Four Points, Kirkland, and Mercer Island as an integrated market. The same dynamics affect all of these “Gold Coast” markets more or less uniformly. All are near local job centers and in close proximity to either the SR 520 or I-90 bridges to Seattle, with access to preferred school systems and the region’s most coveted real estate. From July 2016 through June 2017, 78 waterfront homes were sold in this broader sub-region at an average selling price of $4.07 million. Homes were sold at prices exceeding eight million dollars in Medina, Hunts Point, and northern Mercer Island. Prices per square foot throughout the sub-region averaged $965, peaking at over $1,400 for three sales in Medina.
Although there was an average 103 cumulative days on market (CDOM) in this sub-region, this figure was skewed by sales in Bellevue, on Mercer Island, and by one notable outlier in Kirkland. In only nine of 23 Eastside communities with waterfront sales did CDOM surpass 90 days. Five communities saw an average CDOM between 60 and 90 days, three from 30 to 60 days, and six of those 23 communities saw waterfront homes sell within less than a month.