Healthy Luxury Real Estate Sales Finish Summer

Luxury real estate sales in Seattle finished up the summer with a slightly slower August but strong overall sales numbers, in comparison with the summer of 2009.

Nineteen homes in the city of Seattle sold for over $1 million last month, with two homes coming in above $2 million. The top sale was a classic, elegant Queen Anne home on Highland Drive with sweeping city views. Its final selling price was $2.745 million.

For the summer (June-August), we saw 84 homes sell for over $1 million, a 29% increase over 2009's 65 sales. In the $2 million + range, we had 9 sales this year, nearly doubling the 5 homes sold in this category last year.

The top sale of the summer was a $6.25 million estate in Denny Blaine. The 8300 sq ft home on Maiden Lane was on the market for nearly a year before selling, but still brought top dollar for the current market.

The late summer slowdown has clearly affected total sales as well as luxury home sales a bit in August. We'll most likely see a bump at the end of September and beginning of October before we move into the winter lull.

Sam DeBord
Realtor® | Managing Broker
SeattleHome.com | Washington State Realty, LLC
ph: 206-658-3225 | email: sam(at)SeattleHome.com
Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors

Source: Individually compiled NWMLS data. The NWMLS did not compile or publish this information.

Connect with me:

 

 

 

August Waterfront Real Estate Sales on The Eastside

Waterfront real estate on the Eastside continued a strong summer season, with six million-dollar-plus sales of waterfront homes in August. Just three such homes were sold in 2009 in the same month.

Waterfront home sales on the Eastside have topped 2009 numbers for more than 6 months straight now, and it seems the trend is likely to continue. Although the overall market has slowed a bit from our strong spring, the sales of luxury and waterfront real estate are still more than double the sales numbers of one year ago.

The only segment missing from the waterfront market on the Eastside this month is the high-end luxury market. Recent sales of $5 million+ aren't outpacing last year as much as the $1MM-$5MM range.

Sales this month were located on Lake Sammamish and Lake Washington in Medina, Bellevue, and Sammamish. We also had a couple of "waterfront access" sales in the Kenmore area.

August 2010 Waterfront Real Estate Sales on the Eastside

Address City Price Beds Baths Sq Ft
1460 W Lake Sammamish Pkwy NE Bellevue $1,250,000 4 3.25 3,450
2103 E Beaver Lake Dr SE Sammamish $1,375,000 4 4.25 3,830
457 E Lake Sammamish Pkwy SE Sammamish $1,425,000 2 2.25 2,400
10315 SE 30th St Bellevue $1,575,000 3 3.25 3,940
2841 Evergreen Pt Rd Medina $2,100,000 3,620
49 Skagit Key Bellevue $2,675,000 3 3.00

 

Current Listings:
Seattle Homes For Sale
Seattle Waterfront Homes
Seattle Houseboats and Floating Homes

Have a question about a specific home, or real estate in general? Give me a call or send me an email any time:

Sam DeBord
Realtor® | Managing Broker
SeattleHome.com | Washington State Realty, LLC
ph: 206-658-3225 | email: sam(at)SeattleHome.com
Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors

Source: Individually compiled NWMLS data. The NWMLS did not compile or publish this information.

Connect with me:

 

 

Seattle Luxury Real Estate Finishing Up Strong Summer Sales

 

Sales of luxury real estate in Seattle have been strong all summer long, and continue to outpace 2009's sales of luxury homes in a big way. July had 31 sales of homes over $1 million and 5 home sales over $2 million. This is in comparison to last July's sales of 23 and 2 homes, respectively. Sales in the summer of 2010 have repeatedly outperformed 2009 by 30%-50% in the $1 million-and-up range.

Sales in the $2 million and up range are up 200% vs. last year, with 18 home sales reported in this range between April and July. While prices have taken a hit on many high-end homes, many sellers of luxury real estate have made realistic price adjustments on their listings and have gotten this market moving back in the right direction.

With the expiration of the tax credit, we've seen a large dip in total sales nationwide, but that affects the luxury real estate market much less than other market segments, as the tax credits are very small inducements at these prices. The greater economy and employment markets will continue to weigh on the luxury market, but it seems that luxury bargain hunters are starting to come out of the woodwork.

Current Listings:
Seattle Homes For Sale
Seattle Waterfront Homes
Seattle Houseboats and Floating Homes

Have a question about a specific home, or real estate in general? Give me a call or send me an email any time:

Sam DeBord
Realtor® | Managing Broker
SeattleHome.com | Washington State Realty, LLC
ph: 206-658-3225 | email: sam(at)SeattleHome.com
Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors

Source: Individually compiled NWMLS data. The NWMLS did not compile or publish this information.

Connect with me: