2019/2020 Waterfront Report

The beautiful landscapes of the Pacific Northwest aren’t complete without our water views. From in-city waterfronts along our lakes and the majesty of the Puget Sound, to island living and vistas along Washington’s scenic port towns, there’s nothing like finding a piece of shoreline to call your own.

Realogics Sotheby’s International Realty exhibits 15 months of waterfront sales, from January 2019 through March 2020 across five subregions in Western Washington to provide our clients with the information they need before dipping their toe into the market.

These geographic profiles have been designed to thoroughly understand and communicate waterfront selling activity in the markets we serve. In this edition of the 2020 waterfront report, we provide a comprehensive survey of waterfront transactions from January 2019 through March 2020 of 14 areas across western Washington State.

2019/2020 Market Report

Realogics Sotheby’s International Realty proudly presents its annual summary of the Real Estate Market in Western Washington. Each year, this report reflects on how the news events of the past year could economically impact the home buying and selling process. It also offers key insights from nine counties and 37 communities around the Puget Sound, providing an in-depth analysis of data, information, factors in trends, news, and events that make an impact on our local housing market.

Dive in to this thorough review and please contact me if you have any questions!

Request a print copy here.

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Market Trends from Around the Sound: Q1-2018

Realogics Sotheby’s International Realty presents a look at the housing market trends for the first quarter of 2018, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.
 

Seattle  |  Single Family Homes

Seattle home prices remained red hot in the first quarter of 2018, as the median sales price reached $917,000, up over $30K from the final quarter of 2017 and 14.2% year-over-year. 
View report here.

 

Eastside  |  Residential

A shortage of homes available continues on the Eastside, as the average days on market decreased by 5 days to just under one month with the average sales price up 13.2%. 
View report here.

 

Bainbridge Island  |  Residential

Bainbridge Island continues to attract buyers, as the number of homes sold was up just over 28% from Q1-2017 despite a sharp 60.7% inventory decrease. 
View report here.

 

Seattle  |  Condominiums

Condominiums in Seattle continue to attract buyers as the average days on market in Q1-2018 was 15 days, down a staggering 34.8% compared to the first quarter of 2017. 
View report here.
 

More Coverage on Seattle Condo Activity Here 

What Do the Wealthy Want? Real Estate Of Course!

In a recent article on Think Advisor, "Global Wealthy Want More Real Estate," Michael S. Fischer breaks down the latest Savills/Wealth Briefing survey, which reveals that "private bankers and wealth managers found that 91% of global high-net-worth [HNW] investors were looking to increase or maintain the real estate holdings they own directly, and 87% intended to increase or maintain indirect holdings."

Some key statistics, indicated by the chart below, show that 72% of wealth managers' clients plan to purchase residential properties in the next five years and that "North America was the choice investment destination of investors."

Harriet Davies, who wrote a statement for the survey, said "demand for property is not only being driven by low interest rates," which are bound to increase in the current climate, but "structural shifts mean that real estate is likely to grow in importance for HNW investors." Thus "it is crucial that advisors understand the evolving role of real estate in portfolios," and for the real estate industry to embrace these market trends.