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Waterfront Home Sales Strong on the Eastside, Double in King County

Waterfront home sales on the Eastside continued to show strong gains in April. There were six significant waterfront sales last month on Lake Washington and West Lake Sammamish. During the same period last year, there were only two such sales.

King County waterfront home sales have doubled in the meantime, with 26 sales in April vs. 13 last year. Year-to-date sales were also exactly double the number of sales in 2009, at 82 sales vs. 41. Median sale prices of waterfront homes were down about 10% in April vs. last year, but year-to-date sales are actually up in price around 5% in comparison to 2009.

The trend on the waterfront continues to be more buyers, and more discounts on prices. The Newport Shores home on Cascade Key, listed below, was originally listed at $8.75 million in late 2008. I had a chance to tour it with some clients, and it's really a one-of-a-kind property, with 200 feet of a radius waterfront looking out on Lake Washington.  Its final selling of $6.4 million represented an overall 27% reduction (over two years).

Eastside Waterfront Home Sales, April 2010:

Address City Beds Baths SqFt. Sold Price

6827 Ripley Ln N Renton 3 2.75 2950     $1,050,000
2458 W Lk Samm Pkwy NE Redmond 4 3.25 2800 $1,169,000
2850 W Lk Samm Pkwy NE Redmond 3 2.75 3000 $1,448,000
3234 W Lk Samm Pkwy SE Bellevue 4 3.25 3620   $1,525,000
11069 Champagne Pt Rd NE Kirkland 4 4.5 4570 $2,125,000
94 Cascade Key    Bellevue 5 5 7908  $6,400,000

Data not compiled or published by the NWMLS.

  • May 06 2010 - Newport Shores
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