Tagged : Seattle Luxury Homes

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Seattle luxury real estate, including all of King County, has seen a great deal of increase over the last couple years.  Historically, $1 million was considered luxury real estate in Seattle, Mercer Island, Medina, Hunts Point, etc., but those days have long passed.  In 2015, there were 2,617 luxury homes sold if you use $1 million as the benchmark.  Using that same benchmark, in 2016 there was 3,547 luxury properties sold.  The number of sales drop drastically if you use $2 million (438 in 2015, 556 in 2016), $3 million (132 in 2015 & 172 in 2016), $4 million (54 in both years), and $5 million (32 in 2015, 31 in 2016).

Using $2 million and up as the benchmark for luxury real estate, we see 2017 is off to a strong year.  There were 29 luxury homes sold

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Seattle Waterfront

Seattle waterfront homes had a strong year in 2016, continuing where 2015 left off.  Sales of Seattle waterfront homes in Seattle saw year over year increases in most numbers.  Single family waterfront homes, excluding condos and houseboats, saw an increase in average price ($2,175,991 vs 1,896,089), average price per square feet ($588 vs $581), and sales price as compared to list price (99% vs 97%).  Seattle waterfront homes overall sales were down slightly (58 sales vs 61 sales) and the average days on market did increase (97 vs 80).

The highest sale in 2016, was a Laurelhurst watefront east-facing home on Lake Washington on just over 1 acre of land.  It sold for $9,750,000.  The highest sale in 2015, was also in Laurelhurst although the

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King County’s housing market is showing no signs of the typical winter season slowdown, even with inventory at its lowest point in a decade. With nearly 1,500 fewer homes on the market in November than in October, sellers have less competition and are seeing “condensed traffic” at open houses, meaning only buyers who are serious about purchasing homes. As we typically see fewer buyers house searching during the holiday season, buyers may also find a slightly less competitive market in December.

Prices continue to rise, and the median sales price in King County was up to $499,950 in November (compared to $440,000 in October) a 13 percent increase over November 2014, according to statistics from the Northwest Multiple Listing Service (NWMLS). In

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It’s no secret that Seattle’s housing market is one of the strongest in the nation, but what is a little surprising is the growth in the luxury homes sector. According to a recent story by the Puget Sound Business Journal, 537 homes sold for more than $1 million in just four Bellevue ZIP codes alone over the past year, 108 more than 2014 and an increase of 25 percent. 60 homes sold for over $3 million in those areas, up 43 percent over last year.

In Seattle as a whole, 901 homes have sold for $1 million or more so far in 2015, compared to 689 in 2014, according to statistics from the Northwest Multiple Listing Service. Of those sales, more than a quarter (241) occurred in the Central Seattle area comprising the neighborhoods south of the ship canal,

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As we head into the holidays, real estate experts in the area predict that the Puget Sound market will not see the typical slowdowns associated with the season. Listings often drop off during this time of year, as potential sellers are more focused on holiday events, but with sustained demand for homes in our region, the next few months are going to be a great time to sell a home. The area comprising King, Kitsap, Pierce, and Snohomish counties saw the highest number of pending sales in a decade in October, and those high sales volumes are predicted to continue.

Though median sales prices for single-family homes are down in King County on a monthly basis, from $490,250 in September to $480,000 in October, prices are up by 7 percent over the year,

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