Seattle Waterfront Home Sales Show Big Gains in May

Waterfront home sales in Seattle continued their 2010 resurgence with a big month in May. There were eight significant waterfront home sales last month, including four over $1 million. That number is twice the number sold in May 2009, and a big increase over the 5 waterfront homes sold in April, which was in itself a big improvement over last year.

Overall, the trend toward more waterfront real estate sales is getting stronger as the year goes on. We now have 29 waterfront homes sold so far in 2010, more than doubling the 13 sales at the same point last year.

The median sale price of a waterfront home at this point in Seattle a year ago was $1.0 million, and that number has moved up to $1.4 million so far this year. While that number can sometimes be misleading in a relatively small sample of sales, it rings true after analyzing the number and types of homes being sold. The ultra-luxury real estate market is still suffering in terms of prices, but there is far more liquidity this year, and there are a fairly large number of potential buyers looking for a good deal.

Address Sold Price Beds Baths Sq Ft
9664 Rainier Ave S $660,000 3 1.75 1,640
9946 Rainier Ave S $1,072,500 6 4.5 3,820
5357 S Kenyon St $1,550,000 4 3.5 4,680
2031 Fairview Ave E $750,000 2 1.75
2766 Westlake Ave N #A $575,000 2 1 900
4315 W Semple St $2,450,000 5 3.75 8,210
13734 Riviera Place NE $671,000 5 2.75 2,440
4306 55th Ave NE $2,500,000 6 4.5 5,161

  • June 10 2010 - Hunts Point
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Answers (2)

The gains must be because of the $8k tax credit!!!!
  • June 10 2010
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Ha!  That $8k might pay for 1 point of origination on the mortgage (not that many of these buyers are financing).
  • June 11 2010
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