Waterfront homes on Lake Washington have slowed a bit in sales as we move into late summer. While the real estate market in Seattle has been strong now for a few months, the lower-priced homes have been the biggest sellers. As more of these lower end homes sell, we should see some more move-up buyers getting into the waterfront real estate market.
Lake Washington Waterfront
There were two waterfront Lake Washington homes sold in July. The first is a large, contemporary home in Kirkland. Sitting on Juanita's Woodland Cove, this 3 bed, 4 bath home is over 4000 square feet. It has a Lake Washington shoreline of over 100 feet, a 3 car garage, dock, and boat lifts--exactly what you'd expect for a luxury waterfront home. Listed originally at $2.75 million, it eventually closed near $2.2 million after about 7 months on the market. Waterfront homes typically have longer marketing times, as their unique nature minimizes the potential pool of qualified buyers.
The second home sold is in Bellevue, just South of I-90. With almost 1/2 acre of land and nearly 100 feet of Lake Washington waterfront, it's a luxury builder's dream. The home was apparently a tear-down/restore project, as it doesn't nearly match most of the homes on the waterfront. The property sold suprisingly quickly, listed at $1.4 million and purchased for just over $1.3 million in less than one month. Expect to see a spectacular home on this lot in the near future.
Sam DeBord and Brian Wiegand
Seattle Homes and Seattle Condos for sale on SeattleHome.com
Seattle Waterfront Homes - RE/MAX Real Estate Brokers
This information not compiled or published by the Northwest Multiple Listing Service. MLS data used, may not include all sales
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