Research Cites Rising Tides of Demand for Area Waterfront; Sales Rise 50% & Median Prices Climb 30%
Realogics Sotheby’s International Realty, the Pacific Northwest’s largest affiliate for the global real estate network, announced today the exclusive listing of 8909 North Mercer Way, Mercer Island – a 5 bedroom, 4.5 bathroom waterfront estate on the northeast corner of Mercer Island (just south of Luther Burbank Park). Represented by Becky Gray and Connie Blumenthal, the luxury real estate network will offer the 7,778 sq. ft. home for $7,248,000 to a global audience – an increasing trend for high-end homes, especially for those waterfront properties along Lake Washington.
“This exclusive opportunity is the crescendo to a concert of sales that occurred along this prized north end coastline of Mercer Island,” says Gray,the Eastside Global Advisor for Seattle-based Realogics Sotheby’s International Realty. “We are witnessing robust demand to live along the water’s edge throughout the Eastside. Mercer Island is perfectly centered between the bustling economies of Bellevue and Seattle with a renowned school district and casual elegance sensibility. I believe we are well-positioned for a quick sale, whether our buyer comes from around the corner or around the globe.”
Gray points to a noted rise with interstate and international homebuyers, which is occurring in the immediate area. Amongst the dozen or so contiguous waterfront lots along this coveted shoreline, ten of the lakeside homes have been offered for sale in the last six months and already half are sold including several to buyers relocating from out of state. Meanwhile, the median price of waterfront homes on Mercer Island (NWMLS# 510) have risen 30% for the first half of 2014 compared with the prior year and the number of waterfront homes sold has increased 50% in the same period of time. Currently just 33 waterfront homes and lots are offered for sale on Mercer Island ranging in price from $999,000 to $18,650,000.
“We named the home Prosperity Point given the fortuitous sales of late and unique geography of our land,” adds Blumenthal, a Mercer Island Real Estate Specialist and long term resident. “From this hillside perch we enjoy 180-degree views from due west through the north and clear due east. Residents of this community prefer the close proximity to downtown Mercer Island, the quick access to I-90 and the relatively protected waterways compared with the west side.”
Among its many other features, the Cape Cod-styled home is sited upon a shy half acre property boasting 100 linear feet of low bank waterfront and a large dock with deep water moorage. For more information visit www.OwnProsperityPoint.com.
Read the press release on Digital Journal here.