The annual Realogics Sotheby's International Realty waterfront report was recently released, with a fresh new website to boot. The report is typically released every August with data from the last twelve months, so in this case: July 2016 through June 2017. The report focuses on waterfront sales throughout the Puget Sound region, "including those with frontage on the Sound and connected channels north to the Canadian border; the upper reaches of Hood Canal; all navigable lakes and rivers; and smaller lakes and tributaries, excluding creeks and ponds." Additionally, only single family home sales were used in the study.
It's no surprise that the highest recorded sale from the study was on Mercer Island at $9,751,880. The lowest recorded sale was in Yelm at $25,000 (who says waterfront property has to be expensive? ;)). There is a great map on the RSIR Waterfront website with the median selling prices by county. King came in at number one with a median price of $1.5 million. Kitsap came in third after San Juan county ($1.3 million) at a median price of $735,000. I've said it before and I'll say it again: Kitsap rocks! Our county boasts a reasonably priced, yet still elegant ad upscale, housing market. It's one of the reasons I love this region so much!
The Kitsap Peninsula was separate from Gig Harbor and Bainbridge Island in the report, stating, "This peninsula offers saltwater frontage from Hood Canal to the Puget Sound, and homes are often more affordable than the equivalent properties in exurban communities along the I-5 and I-90 corridors. Waterfront prices here are distinctively influenced by city and mountain views, and access to ferries." The report goes on to state that the average price per square foot was $260.21 and average sales price was $577,552.
Alternatively, on Bainbridge Island the average price per square foot was $507.17 with an average sales price of $1,412,732. The average number of days on the market was slightly shorter in Bainbridge (87 days) as opposed to Kitsap (96 days). The full report has details on every area of Puget Soundand even includes videos and featured property listings. To see all the details, you can visit RSIRwaterfront.com
To see my currently active waterfront listing in Poulsbo, click here: Private Hood Canal Waterfront Estate.