There were seven sales of Seattle waterfront homes this March, a marked increase over 2009 when only one home sold during the same month. 6 of the homes sold were on Lake Washington, and one was Puget Sound waterfront in Magnolia.
Seattle Waterfront home sales, March 2010
The first sale was a 2 bed, 1 bath house in Rainier Beach. The 1500 square foot home sits on 1/4 acre of land. The home was first listed almost 2 years for $699,000, with the final sale price being $565,000.
Just a few blocks South, a 1960s home on the lake sold for $748,000. The 3 bed, 2.5 bath home had been listed for around 7 months, starting out at $900,000. It has a boat house, deep water moorage, and a wrap-around dock.
On the North end, two homes in Cedar Park closed within blocks of each other. The first home is a 1940s-built 2 bed, 2.75 bath with 1440 sq ft of living space. It sold for $830,000 after just 9 days on the market (original list price $850,000). The 3000 sq ft lot has 45 feet of Lake Washington waterfront.
The second Cedar Park home was a $1.4 million sale that was marketed for 10 months. The 4 bed, 2.75 bath home is a large, newly-constructed home with 2500 square feet of finished living space. It has a 5000 sq ft lot and 50 feet of waterfront footage. The original list price was $1.484 million.
Over on the Sound, a large 1929 home sold in Magnolia. The 4 bed, 3.75 bath home has over 6300 square feet of living space. It came on the market at $2.95 million, and after 9 months of marketing its final sale price was $1.865 million. The lot is over one acre and has 57 feet of saltwater frontage.
The top two Seattle waterfront sales in March were in Laurelhurst. A home listed for $2.6 million 5 months ago ended up selling at $2.172 million. It's a 1920s-built Tudor with 5 beds and 4.5 baths. The property has 0.4 acres of land and 50 feet of Lake Washington waterfront with a boathouse and hoist.
The second waterfront Laurelhurst home jumped off the market in 3 days. The 5 bed, 3.75 bath, 1930s home was listed for $2.488 million and sold for $2.425 million. With 1/3 of an acre of land, the home has 50 feet of waterfront and 3500 square feet of interior living space. It's a colonial style home not far from the Laurelhurst Beach Club.
Waterfront real estate in Seattle has been seeing increasing year-over-year sales for months now, and that trend is likely to continue through this summer. While prices have fallen somewhat, the market is seeing more transactions and a stabilizing of inventory, which is good news for waterfront home owners who need to sell their homes.
Sam DeBord is a licensed real estate broker with SeattleHome.com, a division of Washington State Realty, LLC. He is a member of the Seattle-King County Association of Realtors and a Green-Certified Pro.
Sam DeBord and Brian Wiegand
SeattleHome.com – Washington State Realty – (206) 552-8820
Real Estate Brokers, Realtors, Green Certified Pros
SeattleHome.com – Washington State Realty – (206) 552-8820
Real Estate Brokers, Realtors, Green Certified Pros
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