King County's waterfront home sales have followed Seattle's sales trend of bucking the pricing downturn. According to the NWMLS, while total number of waterfront home sales were down, prices were almost unchanged.
King County waterfront residential home, townhome, and houseboat prices were down just 4.9%, and condo prices were up 3.8% in 2008 vs. 2007. The two practically cancel themselves out, leaving King County waterfront prices flat for the two year period. This, of course, has to be taken in context with the steep drop in total number of sales, with house sales down 39% and condo sales down 43%.
Again, it looks like waterfront home owners are not forced to sell right now, so they don't sell if they don't get the price they want.
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