Overall, the Seattle-Eastside waterfront market showed a resurgence of activity in Q1 with highly desirable properties (moderate topography, easy access, prime exposure and waterfront quality, etc.) transacting most quickly and at strong prices while homes lacking those essential qualities are passed over or sold at very negotiated prices.
The highest waterfront sale in the Seattle-Eastside region, closing at $8,850,000, was a 2008-built contemporary on Laurelcrest Lane in Seattle’s Laurelhurst neighborhood with 9,590 square foot complete with its own ADU, and situated on three lots with 145 feet of waterfront. This home sold at 89% of its listed price after 458 days on the market.
The lowest sale, at a mere $950,000, was a Richmond Beach home in Shoreline on 38 feet of Puget Sound saltwater. Built in 1940, the existing 1,450 square foot structure was of little to no value. It sold at 90% of its listed price after 136 days on the market.
The region’s strong start to Q1, with 27 private waterfront sales, contributed to reducing the overall month’s supply of inventory and primed the market for what looks to be a solid spring and summer peak season in 2017.