A Frenzy of Mercer Island Waterfront Real Estate Sales

 

Six Mercer Island waterfront homes were sold in October, a surprisingly busy fall month of sales with four of the homes selling in under a week. This follows a strong September which had four waterfront real estate sales on the island.

The waterfront homes were spread evenly around Mercer Island, with two North End, two West Mercer, and two East Mercer homes being sold.

North Mercer Island

The two homes sold on the North End of the island are a real constrast. The first is a steal for North End waterfront, and it sold for $1.5 million after less than a week on the market, at its full list price. With 23 feet of waterfront it's a smaller piece of Lake Washington frontage, but the 5 bedroom rambler is a good-sized home and there's rarely a piece of waterfront on the North End at this price.

The second North End home is a 9,000 square foot new construction beauty on Faben Point. I toured this home over a year ago when it was a nearly-$10 million listing, but it's been reduced significantly in the meantime. The home was built by a well-known local builder (who happened to be a neighbor), and the views and grounds are truly stunning. Its final sale price was $6.75 million.

West Mercer

A West Mercer Way home continued the trend of low-priced waterfront homes selling fast and for full price. This home actually eclipsed its list price of $1.46 million by selling for $1.65 million after just one week on the market. It's a reminder that there is still plenty of money in the waterfront and luxury market-if a property is priced aggressively. This property has 4000 square feet of living space, five bedrooms, a half-acre of land and 50 feet of waterfront.

Further South on Forest Ave, a home that has been listed since early 2008 at nearly $9 million finally found its pricing niche. This is an exceptional waterfront estate, with 100 feet of Lake Washington shoreline, a half-acre lot, and a 7,000 square foot home. The final selling price for the home was $4.15 million, and its final list price had been $5.3 million.

Easter Mercer

The final two home sales on the East shore of Mercer Island included a 7,000 square foot new construction home with 90 feet of low bank waterfront. The $4.5 million sale occured just 7 days after its listing, at 90% of its $4.95MM price tag. The 5 bed, 7 bath house covers 6000 square feet and the lakeside views are enhanced with something only new construction can offer-Nana walls open up the entire side of the home to the outdoor lakeside living.

Another East Mercer Way home sold in under a week. The $2.05 million sale was at 90% of its list price again, after just 6 days on the market. The modern-styled 1960 home is a 2 bed, 3.75 bath house covering 3000 sq ft. The real value in this property is its 89 feet of waterfront, beautifully maintained grounds, in-ground pool, and covered moorage.

Mercer Island Waterfront Real Estate - Homes Sold, October 2010
Address City Price Beds Baths Sq Ft
1835 W Mercer Way Mercer Island $1,498,000 5 3.25 4,430
4029 W Mercer Way Mercer Island $1,650,000 5 2.5 3,900
5910 E Mercer Wy Mercer Island $2,050,000 2 3.75 2,930
4737 Forest Ave SE Mercer Island $4,150,000 5 5.75 7,037
5428 96th Ave SE Mercer Island $4,500,000 5 7 6,000
2205 60th Ave SE Mercer Island $6,750,000 5 6.75 9,000

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.  Photo courtesy NWMLS, Kris Robbs, Ewing & Clark Mercer.

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Sam DeBord

Realtor® | Managing Broker

SeattleHome.com | Washington State Realty, LLC

206-658-3225 cell | 800-883-0712 fax

 

Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors

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Kennydale, Renton Waterfront Real Estate - Homes Sold Oct '10

Two homes were sold in Kennydale on Lake Washington's Southeastern shore during October. These homes, technically in unincorporated King County, have Renton postal addresses and many times have some of the best Lake Washington waterfront values in Greater Seattle.

The first sale was in the new construction development of Barbee Mill. The 3 bed, 3.75 bath home is one of many "attached single family homes" in the community. These are two homes attached by one common wall. The construction allows for more housing density and still high-end waterfront homes in the same location. With an elevator, dock, expansive lake views, and modern finishes, it's a nice alternative to traditional waterfront real estate.

The Barbee Mill home sold for $1.6 million. It had been marketed for nearly a year (properties are often marketed prior to finishing the home in new construction developments), with an original list price of $2.3 million. Its current list price at the time of sale was $1.9 million.

The second sale was a traditional Lake Washington waterfront estate, with a 16,000 square foot lot and an expansive 95 feet of waterfront. This is double the lake frontage of many parcels, and a lot of this size would go for about double this price just a few miles to the North.

The home is a 4 bed, 2.5 bath early 1980s structure with about 2600 square feet of interior living space. It sold after over a year on the market at $2.2 million. Its original list price had been $2.55 million, and it's list price at the date of closing was $2.375 million.

Kennydale/Renton Waterfront Homes Sold on Lake Washington - October 2010
Address Price Beds Baths Sq Ft
2907 Mountain View Ave N Renton $2,200,000 4 2.5 2,624
4113 Williams Ave N Renton $1,600,000 3 3.75 3,550

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.

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Kirkland Waterfront Homes Sold, Oct 2010

A single Kirkland waterfront home was sold in October, on the northern shore of Juanita Bay. The South by Southwest-facing home is located on Juanita Drive, on some of the calmest waters of Lake Washington.

This short sale real estate transaction was originally listed at $1.8 million, and sold after about 5 months on the market at a final price of $1.1 million. The expansive lot covers 27,000 square feet, including 110 feet of Lake Washington frontage. At 2730 square feet, the home isn't particularly large for a home on waterfront property, but it's an adequate house with a private pool and ample moorage.

Kirkland Waterfront Homes Sold - October, 2010
$1,100,000 - 8801 NE Juanita Dr 2 beds, 2.25 baths, 2730 square feet

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.

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Seattle Waterfront Homes Sold- Oct 2010

There were six waterfront homes sold in Seattle in October, with prices ranging from a $700,000 floating home to a $6.7 million Lake Washington estate. Sales of high-end waterfront real estate continue to show signs of life in 2010, even as much of the market is significantly off its 2009 numbers.

In Portage Bay, a large, fairly new floating home sold for $700k. There are some houseboats and floating homes that sell for under $500k but this is the entry price point for a full-sized, traditional style home on Lake Union area waterfront.

In Northeast Seattle's Cedar Park neighborhood, two waterfront homes sold for $900k and $1.06MM. Cedar Park has some of the most truly-waterfront homes in Seattle–many sitting right on top of the shoreline or partially over the water on pilings. Fixers in this neighborhood start in the $700k range and remodeled properties quickly reach $2MM.

On Eastlake's Fairview Ave, one of the premier floating homes in the city sold for $2.08MM. This home sits on the prime outermost corner of Dox Co-op's moorage, with sweeping views of the city. The only floating homes in the city that garner higher prices are new construction, 3 story floating homes that can reach $3MM.

In Laurelhurst, a beautiful Lake Washington estate sold for $5.4 million. This Webster Point home faces Southeast across the lake in one of Northeast Seattle's most-coveted neighborhoods. With tons of waterfront moorage, the lakefront shoreline stretches 87 feet.

The top sale of the month (and the summer) was a Washington Park luxury estate. The extremly private property covers 18000 sq ft and hosts a 6500 square foot home with walls of glass facing Lake Washington. 120 feet of waterfront footage is appointed with extensive lake moorage suitable for large watercraft.

Seattle Waterfront Homes Sold – October 2010

Address City Price Beds Baths Sq Ft
1210 E Shelby St #G Seattle $700,000 2 1.75 960
11036 Riviera Place NE Seattle $899,000 3 2 2,000
12754 Riviera Place NE Seattle $1,060,000 3 1.75 2,700
2219 Fairview Ave E #15 Seattle $2,080,000 3 1.75 2,800
3006 Webster Point Rd NE Seattle $5,400,000 5 3.75 5,301
4205 E Highland Dr Seattle $6,700,000 4 4.75 6,490

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.

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