Review of Q3 2015 Waterfront Home Sales
Eastside waterfront fared remarkably well in the third quarter with several homes entertaining multiple offers before selling at or near their listed price—a break from the norm at this price point where listing prices are often heavily negotiated. The highest sale was a regal Mediterranean estate on Shoreland Drive in West Bellevue with west facing views of Lake Washington and the Seattle skyline at $6.7 million. Built in 2008, it’s nearly 11,000 square feet of living space is situated on a 2/3 acre lot along 80 feet of private waterfront. The least expensive waterfront was a 1951 built home on a tiny .08 acre lot with 55 feet of waterfront along the shores of Lake Washington near the Seahawk’s training facility sold above list price at $1.07 million.
The Eastside's private waterfront consists of homes sited along Lake Washington from just north of St. Edwards State Park to Newcastle Beach Park; encompassing the cities of Kenmore, Kirkland, Bellevue, Medina, Newcastle and Renton.
Mercer Island private waterfront homes saw moderate gains in the third quarter—the Island’s most active quarter for waterfront sales each year. A couple of notable sales above list price but otherwise a slow, steady and sustainable pace for the Island’s prime waterfront market. The highest private waterfront sale was a rare Westside Gold Coast home on Boulevard Place with 100 feet of no-bank waterfront for $4.25 million. Its Northwest contemporary design with 4,450 square feet was built in 1981. The least expensive home was a medium-bank, 1989 built, 3,980 square foot home on 30 feet of waterfront on the southwest tip of the island sold above list price at $2.21 million.
Mercer Island's private waterfront homes are situated along the shores of Lake Washington around the perimeter of the Island. While it's an island, Mercer Island is connected to Seattle and Bellevue via Interstate 90.
Coming on the heels of a very quiet year, out of nowhere Lake Sammamish pulled off 13 sales in its very active third quarter. The highest private waterfront sale was a 2003 Todd Erickson built, 4,650 square foot modern on situated on 50 feet of west-facing no-bank waterfront. Its dramatic architecture, master spa-bath, and outdoor living room contributed to an above list sale price of $3.33 million. On the budget side of the spectrum, a tiny 1952 original cabin along a narrow sliver of land abutting an incredible 295 feet of Lake Sammamish sold for $1.2 million.
Lake Sammamish is the sixth largest lake in the state of Washington, located 8 miles east of Seattle and just north of the I-90 corridor.
Not to be left out, Seattle posted 14 waterfront sales in the third quarter. The highest private waterfront sale at $3.92 million was a 1962 Laurelhurst gem located on 140 feet of prime no-bank waterfront with stunning Mount Rainier views and a large boathouse for entertaining. The lowest sale was of a 1924 Cedar Park cabin on Riveria Place with 30 feet of waterfront and its own dock for just shy of $1.1 million.
Seattle';s waterfront homes are sited on either west shore of Lake Washington to the east or Puget Sound (saltwater) to the west.
Click the images below to see the full report for each area.