Seattle Area Waterfront Home Sales, January 2010

Waterfront home sales in Seattle are typically slow in the winter, and January 2010 was no exception. Only a handful of homes sold last month on the water, but there were some significant properties that moved.

Many Seattle residents may not know Three Tree Point, but it's a small peninsula just South of Seattle in Burien. Windy roads switch back through a tall, wooded path as you head West to the point. Many homes have sweeping views of the Puget Sound, while the waterfront properties vary from soft-sloping driftwoood shores to steep banks and cliffs.

A small 3 bed/1 bath home on Maplewild Ave sold for just over $350k in January, a surprisingly low price compared to most of the multi-million dollar homes on the waterfront in Three Tree Point. Of course, this home is a walk-down access, meaning no driveway or garage. It's not your typical home, but if you didn't mind hoofing it down the trail to the home, you'd be buying some of the least-expensive waterfront on the Sound. This home was on the market for a few years--it really needed a unique buyer.

 

On Lake Washington, a new construction home in Renton's Kennydale neighborhood sold for just over $2 million. This home, part of the Barbee Mill development, was a 3 bed/3.5 bath, 3500 sq ft home. The home was listed for around 7 months, which is still a fairly short marketing time for a waterfront home in this price range. Many times multi-million dollar waterfront homes take a year or longer to sell, as the market of potential buyers is limited.

 

The largest sale on the waterfront in January was in Bellevue on Lake Sammamish. The 5 bed, 7.5 bath home has almost 12,000 sq ft of living space and may be the largest home on the lake. I had a chance to visit it this fall, and it's a truly stunning home, with entire walls that open up to the lake. The sale closed at a bit over $5.5 million, after having been on the market around 14 months.

 

Source: Individually compiled NWMLS statistics. The NWMLS database and statistics do not include many new construction pre-sale units, private sales or auction sales. These statistics were not compiled or published by the Northwest Multiple Listing Service.

 

 

Sam DeBord and Brian Wiegand
SeattleHome.com - Washington State Realty - (206) 658-3225
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