For this half-yearly waterfront report, we analyzed Waterfront sales throughout the Puget Sound region, comparing Jan 1- June 30 for 2014, 2015, and 2016. The areas covered have been broken down into several regions: Northern Sound, North Seattle, Seattle, Seattle (Central), South Seattle, Eastside, Issaquah/Sammamish, Islands, and South Sound. Waterfront is defined as any homes residing next to: Bank, Bay, Bulkhead, Canal, Creek, Jetty, Lake, Ocean, River, Sound, Strait, or Tideland. We have included both single family residences and condominiums in our statistics.
Overall, there were 530 waterfront sales in 2014, 615 in 2015, and 586 in 2016, indicating an increased surge in waterfront sales in 2015, likely a result of an influx of buyers trying to take advantage of perceived high-value properties available along the waterfront. 2016’s slightly decreased total sales number indicates a more cautious wait-and-see approach from sellers, who may be hoping to capitalize on even further increases in overall market value and potentially higher sales prices should trends continue to match what we’ve seen from 2014 to 2016 regarding average sales prices increasing throughout the region.
Realogics Sotheby's has given the name “Gold Coast” to the Lake Washington shoreline stretching from Faben Point at the northwestern tip of Mercer Island to Beaux Art Village, and from there to Saint Edward State Park north of Kirkland’s Juanita neighborhood. The across-the-water city views of Bellevue and North Seattle from these locations, together with the quality of life in these world-renown lakefront communities, make Gold Coast homes among the most sought-after in the region. RSIR brokers bring extensive knowledge of this area to buyers and sellers of the best homes that the Puget Sound has to offer.
While living anywhere along Lake Washington would be a prized lifestyle, the most coveted shoreline remains the waterfront communities of West Bellevue, Medina, Hunts Point, Kirkland, Juanita, Beau Arts, Enatai, Newport Shores and the north end of Mercer Island. These sought after neighborhoods offer close proximity to job centers, access to preferred public and private schools and comprise the most valuable residential real estate in the Pacific Northwest.