Seattle Luxury Real Estate Finishing Up Strong Summer Sales

 

Sales of luxury real estate in Seattle have been strong all summer long, and continue to outpace 2009's sales of luxury homes in a big way. July had 31 sales of homes over $1 million and 5 home sales over $2 million. This is in comparison to last July's sales of 23 and 2 homes, respectively. Sales in the summer of 2010 have repeatedly outperformed 2009 by 30%-50% in the $1 million-and-up range.

Sales in the $2 million and up range are up 200% vs. last year, with 18 home sales reported in this range between April and July. While prices have taken a hit on many high-end homes, many sellers of luxury real estate have made realistic price adjustments on their listings and have gotten this market moving back in the right direction.

With the expiration of the tax credit, we've seen a large dip in total sales nationwide, but that affects the luxury real estate market much less than other market segments, as the tax credits are very small inducements at these prices. The greater economy and employment markets will continue to weigh on the luxury market, but it seems that luxury bargain hunters are starting to come out of the woodwork.

Current Listings:
Seattle Homes For Sale
Seattle Waterfront Homes
Seattle Houseboats and Floating Homes

Have a question about a specific home, or real estate in general? Give me a call or send me an email any time:

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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