"Life on the shores of Puget Sound, as well as its neighboring straits & harbors, lakes & archipelagoes, offers all the pleasures and adventure that draw people to the water’s edge."
WHAT'S IN THE REPORT:
This annual waterfront report is released in July based on data for the five-month period from January to May 2018. Annual data reported for trends are based on preceding calendar years and the current year to-date. We analyzed waterfront sales throughout the Puget Sound region, including those with frontage on the Sound and connected channels north to the Canadian border; the upper reaches of Hood Canal; all navigable lakes and rivers; and smaller lakes and tributaries, excluding creeks and ponds. We have included only single family residences in our statistics, and have referred to condominium sales only tangentially. The geographic areas covered include sub-regions that could reasonably be treated as integrated markets: Seattle (North); Seattle (Central); South King County; the Eastside; Mercer Island; the Four Points; Bellevue; Kirkland; Redmond/Sammamish; Bainbridge and Vashon Islands; North Sound; the San Juan Islands; the South Sound and Hood Canal.
puget sound WATERFRONT ANALYSIS:
This report mainly concerns price trends. The price of each waterfront property is influenced by normal location factors affecting the value of any real estate. However, waterfront sales may also be influenced by features such as docks, moorage, and beach or tidelands access, which may be conditioned on easements or otherwise shared, especially in more densely populated areas. Furthermore, the length of frontage varies widely outside these areas. All these factors should be considered when comparing waterfront home prices, whether of adjacent properties or in different corners of the region.
Since 2014, waterfront prices have generally been on an upward trend—it should be noted that in several areas, particularly the Four Points and Kirkland, the number of sales on even an annual basis are easily skewed by outliers and too small to reliably discern trends as to price and volume. The annual prices for the preceding years and the current year to date are shown in the table below.
key REPORT trends:
There were 115 sales in the North Sound region from January 1st to May 31st 2018, which far out-paced any other area surveyed in the report.
The lowest cumulative days on market reported was in Seattle Central—comprising Leschi, Madison Park, Mount Baker and Seward Park—at 43.5 days.
The highest recorded sale in King County (and Washington state) was a waterfront estate in Medina at $26,750,000, which represented by Realogics Sotheby's International Realty broker Becky Gray.
Bellevue had the highest average waterfront sales price for the recorded period at $5,400,000, while Snohomish County reflected the lowest at an average price of just under $450,000.