The newly released RSIRWaterfront.com takes an in-depth look 15 months’ worth of sales on the shorelines of 14 counties around Western Washington with monthly sales activity charts, average and median sales price trends, and topographic maps of 27 areas. To this data-centered analysis, we’ve added insightful remarks by our brokers, who afford an unrivaled understanding of life at the water’s edge.
For sellers, we address seasonality, market positioning, and other special considerations for waterfront properties. For buyers, we set forth key questions that will narrow selection criteria.
For both, we underscore the value of working with an expert broker. Our aim is to provide guidance to help buyers and sellers make sense of this diverse and ever-changing real estate market segment.
The Five Subregions
The five sub-regions analyzed in depth comprise all major markets for waterfront real estate in Washington State north and west of the Columbia River:
- Waterfront Center: the city of Seattle, Eastside King County to Sammamish, and the eastern shore of Bainbridge Island
- Waterfront East: King County west of Sammamish, Snohomish County to Lake Stevens, South Whidbey Island, Kingston on the Kitsap Peninsula, and Pierce County east of Lakewood
- Waterfront West: Grays Harbor, the South Puget Sound Basin, Hood Canal, and Kitsap County west of Kingston and Winslow
- Waterfront North: Central and North Whidbey Island, Camano Island, Port Townsend, Snohomish County north of Port Gardner, Skagit, Whatcom and San Juan Counties
- Mountain Lake and Riverfront: Chelan and Kittitas Counties
Maps (above): the five sub-regions for analysis of seasonal waterfront transaction data. Each mark is a single transaction during the subject 15-month period (January 2018 through March 2019).
When viewing summary findings from these different sub-regions, one common takeaway should be the similarity in proportional transaction volume trends between waterfront and non-waterfront sales. In most areas, the seasonality of waterfront sales is not so different from that of non-waterfront sales. The differences in median selling prices between waterfront and non-waterfront residential sales also should be observed.