The summer sales season remains in full swing at Realogics Sotheby’s International Realty. Analyzing the trends from June 1 through the end of August, our sales jumped 120% year-over-year to $182 million for the summer months, which is an average of just over $2 million in sales per broker up from $1.65 million last summer.
Analysis by Google suggests that national home searches peak each July and 2014 demonstrated the highest volume of searches since 2008 – a great harbinger for sales this fall.
A spike in home sales was most visible on the Lake Washington waterfront, especially in the sought-after Eastside communities running from Juanita to the north, down through Kirkland, Carillon Point, Hunts Point, Medina, Enatai and all of Mercer Island.
ABOVE AND BELOW: Both the volume of home sales and median home prices for waterfront properties on the Eastside of Lake Washington increased substantially in 2014, rising 28% and 63%, respectively.
The top sale of the summer for Realogics Sotheby’s International Realty was a 49-acre estate stretched out upon more than 900 feet of riverfront at the base of Mount Si. The firm’s newly positioned Asia Desk was responsible for the sale, which helped the international buyer and successfully closed at $8.5 million.
While the summer months are coming to a close, brokers believe waterfront will continue to be in high demand with additional sales occurring off market.
The following is a snap shot of featured properties listed by brokers with Realogics Sotheby’s International Realty along the Eastside of Lake Washington including Mercer Island.