Life at the Water’s Edge: Waterfront Trends 2018
Realogics Sotheby’s International Realty recently released waterfront stats from around the Sound, revealing what’s been happening around the Sound since the start of 2018. Here, we have a look at the latest statistics from Seattle, where things are heating up on the water.
Queen Anne/Magnolia – Ballard/Greenlake – North Seattle
In the sub-region of Seattle north of downtown, and including North Seattle, Ballard, and Magnolia, there were 8 waterfront single-family home sales from January 2018 through the end of May 2018. The average price among these sales was $2,168,333, at $564.45 per square foot. Sales were closed at an average CDOM of 181 days. Although waterfront property is more plentiful in Seattle than in many other cities, sales are irregular due to the infrequency with which these properties change hands. Areas that have seen many sales in recent years may see very few sales for a period thereafter, not due to a lack of demand, but rather to a shortage of supply.
Leschi – Madison Park – Mount Baker – Seward Park
The Seattle (Central) sub-region comprises that portion of Seattle east from South Lake Union and southbound along the Lake Washington shoreline from the Montlake Cut to Bryn Mawr. There were 5 sales here from January 2017 through May 2018, at an average selling price of $1.8 million, and an average price per square foot of nearly $500. What was noted for the northern sub-region of Seattle is perhaps even more relevant here: single-family waterfront homes along the shores of Lake Washington are infrequently sold. There are only a small handful of such sales between Foster Island and Seward Park annually, while condo sales are somewhat less rarely seen. When they do hit the market, these homes are highly valued; and once sold, they might remain in family estates for generations. Sales on Lake Union and south of Seward Park are more frequent.
Considering making your next move to the water’s edge? Step into WillowDon Estate, steeped in history and positioned for today’s modern lifestyle with nearly two acres of tasteful Olmsted Brothers gardens leading to 174 feet of low-bank waterfront on Lake Washington’s coveted shores.