Summer Warm Up With Home Buying – Many Taking The Plunge Into Waterfront

By RSIR Staff |

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.

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Source: Google Data, January 2008–July 2014, Indexed Search Query Volume, United States.

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.

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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.

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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.

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PICTURED ABOVE: An international buyer was represented by the Asia Desk of Realogics Sotheby’s International Realty to purchase this 14,000 sq. ft. home, which remains the most expensive non-lakefront property sold since the market peaked in July 2007.
PICTURED ABOVE: Lynn Sanborn and Barry Bergner of Realogics Sotheby’s International Realty partnered to sell this $2.88 million home on the Kirkland waterfront, which is currently pending.
Prosperity Point
PICTURED ABOVE: Becky Gray and Connie Blumenthal of Realogics Sotheby’s International Realty partnered to sell this $7.28 million home on the Mercer Island waterfront, which is currently pending.

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.

Vila A Lago, Hunts Point
Villa A Lago, Hunts Point
Carillon Point, Kirkland
Carillon Point, Kirkland
Serenity Mercer Island
Serenity Mercer Island
Elegant Hunts Point Estate
Shimmering Lake Estate, Medina
Shimmering Lake Estate, Medina