Q4 14 Seattle Waterfront Report
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SEATTLE | Waterfront Activity Report MERCER ISLAND 206.232.0446 thewaterfrontreport.com fourth quarter 2014
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The Seattle private waterfront market could best be described as steady in 2014 with prices of the most desirable properties up nicely. Seattle saw the number of private waterfront sales increase 44% to recover to more typical levels following a slower 2013. The average sale price was up 6% to $1.9 million. Several sales of larger than typical lots caused the average cost per waterfront acre to fall 21% to $6.1 million. The average cost per home square foot was up 2% while the average waterfront foot stayed the same.
Transcript of Q4 14 Seattle Waterfront Report
SEATTLE | Waterfront Activity Report
MERCER ISLAND206.232.0446 thewaterfrontreport.com
fourth quarter 2014
SEATTLE │ Quarterly Waterfront Report Q4-2014
*Reflected as a 12 month rolling average. ©2012-2014 Windermere Real Estate/Mercer Island. Data prepared by Windermere Real Estate/Mercer Island. For questions or comments, email [email protected].
TheWaterfrontReport.com │ Waterfront information and data for Seattle, the Eastside, Mercer Island and Lake Sammamish
Click to view this quarter's New, Pending, and Sold listings
$547$451
$500 $493 $505$553
$502 $503 $515
Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14
Average Cost per Home Square Foot*
$27$24
$28 $29 $31 $32 $31 $33 $31
Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14
Average Cost per Waterfront Foot (thousands)*
$1.6$1.5
$1.9$1.7 $1.7 $1.8
$1.6$1.8 $1.8
Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14
Average Sale Price (millions)*
$6.7 $6.9 $6.5$7.4 $7.7 $7.4 $7.2
$6.3 $6.1
Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14
Average Cost per Acre (millions)*
15.0
23.020.0
10.06.7
3.4 4.4
13.510.7
4.8
28.0
4.2 2.8
16.0
6.0
O-13 N-13 D-13 J-14 F-14 M-14 A-14 M-14 J-14 J-14 A-14 S-14 O-14 N-14 D-14
Month's Supply of Inventory
30
2320 20 20
1722
2732
29 28
21
14 1612
2 1 1 2 3 5 52 3
61
5 51 2
O-13 N-13 D-13 J-14 F-14 M-14 A-14 M-14 J-14 J-14 A-14 S-14 O-14 N-14 D-14
Active Listings to Pending Sales Active
Pending
The number of active listings currently offered for sale is represented by the bars, while the number of pending sales is graphed on the line.
This chart shows the number of months it would take to sell all active listings based on the rate of pending sales, assuming no new listings came to market.
The average cost per acre, as solid pricing benchmark, is determined bydividing the average sale price by the lot size of the property in acres.
The average sales price represents the total of all the sales prices, divided by the number of homes sold each quarter.
The cost per waterfront foot fronting Lake Washington, Lake Sammamish, or Puget Sound, by dividing the average sale price by the linear waterfront footage of all parcels.
The average cost per square foot of sold properties as determined by dividing the average sale price by the interior square footage of all homes.
Status Community Status Date Year Built Square Feet Lot Acres Waterfront Ft $ per Wtr Ft* $ per Acre* Sale Price List Price
Sold Lake Forest Park 12/30/14 2000 5,170 0.15 84 $23,571 $13,200,000 $1,680,000 $1,980,000
Pending Cedar Park 12/27/14 1949 890 0.25 46 $16,848 $3,075,397 $775,000
Sold Cedar Park 12/22/14 1934 2,300 0.31 60 $22,500 $4,411,765 $1,335,000 $1,350,000
Sold Sheridan Beach 12/16/14 1938 4,320 0.66 66 $28,788 $2,891,933 $1,800,000 $1,900,000
Pending Inspection Alki 12/15/14 1912 2,040 0.18 30 $35,500 $6,085,714 $1,065,000
Sold Beach Drive 11/21/14 1958 2,420 0.69 56 $19,991 $1,615,440 $1,050,000 $1,119,500
Sold Leschi 11/21/14 2002 5,350 0.11 46 $83,696 $35,321,101 $3,600,000 $3,850,000
Pending Cedar Park 11/18/14 1934 2,300 0.31 60 $22,500 $4,411,765 $1,350,000
Active Magnolia 11/17/14 1968 4,237 0.22 61 $30,951 $8,542,986 $1,888,000
Active Ballard 11/14/14 2010 4,752 0.15 51 $58,333 $20,238,095 $2,975,000
Sold Cedar Park 11/14/14 2006 2,880 0.40 75 $26,653 $5,060,759 $2,000,000 $1,999,000
Active Cedar Park 11/6/14 1949 890 0.25 46 $16,848 $3,075,397 $775,000
Sold Beach Drive 10/30/14 1955 2,130 0.18 50 $27,980 $7,948,864 $1,339,000 $1,399,000
Active Windermere 10/29/14 1996 1,010 1.77 263 $22,624 $3,361,582 $5,950,000
Active Windermere 10/23/14 0 0 1.03 127 $35,433 $4,356,244 $4,500,000
Sold Matthews Beach 10/17/14 1939 2,080 0.19 45 $27,222 $6,586,022 $1,190,000 $1,225,000
Pending Beach Drive 10/12/14 1958 2,420 0.69 56 $19,991 $1,615,440 $1,119,500
Pending Seattle 10/10/14 1940 1,760 0.14 43 $29,070 $8,802,817 $1,250,000
Pending Seattle 10/10/14 1940 1,760 0.14 43 $29,070 $8,802,817 $1,250,000
Pending Cedar Park 10/6/14 2006 2,880 0.40 75 $26,653 $5,060,759 $1,999,000
Pending Leschi 10/3/14 2002 5,350 0.11 46 $83,696 $35,321,101 $3,850,000
Active Windermere 10/1/14 1962 5,887 0.48 107 $32,664 $7,296,451 $3,495,000
Sold Beach Drive 9/30/14 1949 2,850 0.12 37 $33,782 $10,775,431 $1,130,000 $1,249,950
Pending Beach Drive 9/24/14 1955 2,130 0.18 50 $27,980 $7,948,864 $1,399,000
Active Lake Forest Park 9/20/14 2005 5,850 0.21 72 $50,000 $17,307,692 $3,600,000
Active Beach Drive 9/19/14 2003 4,186 0.12 80 $28,583 $18,742,623 $2,286,600
Active Laurelhurst 9/17/14 1954 5,350 0.48 37 $97,027 $7,448,133 $3,590,000
Pending Matthews Beach 9/17/14 1939 2,080 0.19 45 $27,222 $6,586,022 $1,225,000
Pending Sheridan Beach 9/16/14 1938 4,320 0.66 66 $28,788 $2,891,933 $1,900,000
Sold Laurelhurst 9/12/14 1923 4,210 0.59 75 $43,333 $5,555,556 $2,950,000 $3,250,000
Sold Magnolia 9/12/14 1910 5,370 1.71 120 $25,833 $1,812,865 $3,600,000 $3,100,000
Active Seattle 9/10/14 1940 1,760 0.14 43 $29,070 $8,802,817 $1,250,000
Active Seattle 9/10/14 1940 1,760 0.14 43 $29,070 $8,802,817 $1,250,000
Pending Cedar Park 9/10/14 1949 890 0.25 45 $17,222 $3,075,397 $775,000
Pending Lake Forest Park 9/5/14 2000 5,170 0.15 84 $23,571 $13,200,000 $1,980,000
Active Seattle 9/4/14 1992 4,300 0.18 70 $27,141 $10,856,571 $1,899,900
Active Seattle 9/4/14 1992 4,300 0.18 70 $27,141 $10,856,571 $1,899,900
Active Sand Point 9/3/14 1931 2,620 0.33 75 $23,933 $5,523,077 $1,795,000
Active Beach Drive 9/2/14 1928 2,400 0.12 40 $29,375 $10,042,735 $1,175,000
Pending Inspection Beach Drive 8/29/14 1949 2,850 0.12 37 $33,782 $10,775,431 $1,249,950
Sold Richmond Beach 8/28/14 1985 2,910 0.45 42 $30,833 $2,903,587 $1,295,000 $1,295,000
SEATTLE │ Waterfront Activity Report Q4-2014
*Based on the listed price. ©2012-2014 Windermere Real Estate/Mercer Island. Data prepared by Windermere Real Estate/Mercer Island. For questions or comments, email [email protected].
TheWaterfrontReport.com │ Waterfront information and data for Seattle, the Eastside, Mercer Island and Lake Sammamish
ABOUT | Windermere Mercer Island
In everything we do we put our clients first. We enable them to make sound real
estate decisions through professional representation, expert advice, and deep
neighborhood and community knowledge. Our clients enjoy a friendly, personalized
experience as we competently guide them through their real estate transaction to
achieve their hopes, dreams and goals.
Centrally located on Mercer Island, our team of talented Realtors® serves Seattle,
Mercer Island, and greater Eastside. Our neighborhood and community engagement
goes beyond being avid supporters of Island and regional organizations and events—
we are active neighbors and volunteers who enjoy making a difference in our world.
Data prepared and analyzed by Windermere Real Estate/Mercer Island from NWMLS provided data. For questions or comments, email Julie Barrows at [email protected]. ©2012-2014 Windermere Real Estate/Mercer Island
SEATTLE | Waterfront Facts
A N N U A L S N A P S H O T
AVERAGE SALE PRICE $1,900,083
HIGHEST SALE $4,500,000
LOWEST SALE $850,000
# SOLD IN 2014 36
AVERAGE DAYS ON MARKET 157
AVERAGE SQUARE FEET 3,709
AVERAGE YEAR BUILT 1959
AVERAGE LOT SIZE 0.35 ACRES
AVERAGE WATERFRONT FOOTAGE 62 FEET
Seattle’s waterfront homes are sited on either the west shore of Lake Washington to the east or Puget Sound
(saltwater) to the west. Notable waterfront communities on Lake Washington include Matthew’s Beach, Sand
Point, Windermere, Laurelhurst, Mount Baker and Leschi. The western shore is also home to the University of
Washington campus, which abuts the water just south of Laurelhurst down to the Montlake Cut and Portage Bay.
On Puget Sound, a bluff and the Burlington railroad track runs from Richmond Beach past waterfront landmarks
such as Carkeek Park, Golden Gardens, Shilshole Bay, and the Ballard Locks—separating many prominent water
view communities from the waterfront. Private waterfront homes are located just north of Discovery Park along
the inlet to the locks, in Magnolia along Perkins Lane, and in West Seattle along the Alki and Fauntleroy shorelines.
