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The Puget Sound Business Journal Reports an Increase in All-Cash Buyers in Seattle Area

Cites Realogics Sotheby's International Realty Research

In an article from Janaury 22nd, Marc Stiles of The Puget Sound Business Journal reports that, “All-cash buyers dominate region’s luxury home market,” as “nearly two-thirds of the people who bought high-end homes last year in the Seattle area paid cash.” In the feature, Stiles citesRealogics Sotheby’s International Realty (RSIR) research which found that the most expensive sale of 2015 was a waterfront estate on Mercer Island at $13.8 million.

Stiles likewise describes that in these cash deals, “thirty-nine percent of the buyers were from overseas, primarily China.” This finding aligns with a recent article in The Seattle Times that included RSIR’s market research and found that luxury sales have increased in the area thanks to the presence of tech executives and foreign buyers. Of particular interest was that RSIR found that the distinctive waterfront neighborhood of Newport Shores in Bellevue attracted 13 sales during the past two years that exceeded $3 million and 86% of the surnames on these newly recorded titles appear to be on Mainland Chinese origin. There were no such sales in 2011, 2012 or 2013.

In response to this steady rise of Chinese nationals arriving to the Seattle/Bellevue metro area, RSIR and Tiger Oak Publications recently released a 92-page, all-Mandarin magazine called Seattle Luxury Living, which generated a front-page article in the Seattle Times and was a featured story on the Perspectives blog by Sotheby’s International Realty®.

This recent slough of news pieces also comes on the heels of Palace Magazine’s recently published special report that added Seattle to its list of top markets sought by Asian homebuyers. “We are proud to represent our region within this elite publication and be included amongst our peer markets,” said Dean Jones, President and CEO of RSIR. “There is now little doubt that Seattle is on the map overseas and I believe this wave of foreign direct investment is just getting started.”

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Featured on the Puget Sound Business Journal's "Home of the Day"

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Featured on the Puget Sound Business Journal's "Home of the Day"

I am excited to announce that my Quintessential Pacific Northwest Beachfront Retreat is featured as the Home of the Day on the Puget Sound Business Journal!

This luxury beach front retreat in a coveted South Beach enclave offers Sound and Mountain views from almost every room, 84' of no bank sandy beach, and western exposure for sunsets year round. 

The top quality custom home was designed with a fun and easy lifestyle in mind; Chef's kitchen, master suite on the main floor, 3 large bedrooms plus a huge bonus/flex room with 3/4 bath upstairs. And the expansive covered patio with outdoor kitchen and BBQ is perfect for entertaining and enjoying life on the beach!

View more at BainbridgeLuxuryBeachHouse.com

9333 NE South Beach Drive
Bainbridge Island, WA 98110

$1,698,000

  • 4 bedrooms
  • 3 full / 1 half bathrooms
  • 3,380 sqft
  • 11,761 sqft

Don't forget to vote for this coveted property as the Home of the Week here! 

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