Puget Sound and Washington State Waterfront Real Estate BlogRecently posted or modified blog postshttps://www.washingtonwaterfronts.com/blog/Copyright WashingtonWaterfronts.com2023-02-27T20:38:25-07:00tag:washingtonwaterfronts.com,2012-09-20:762010 Reasons this Market is Different1. HOME EQUITY. Between 30-38% of US homeowners own their homes outright. Their percentage of equity has grown too: Over the past 2 years, Americans who own their homes have gained more than $6 trillion in housing wealth alone! Banking regulations enacted post 2008/9's crash fueled higher equity commitments and tighter lending standards too.
2. OWNERSHIP. The millennial homeownership rate of 43% was well below the national average of 65%, as of 2019 caused by delayed marriage, financial challenges of racial and ethnic minorities, less financial security and higher debt. As more millennials reach age 40, their household formation rate will accelerate due to higher marriage rates and more stable incomes. There are 72 million Millennials in the US.
3. NEW AND GROWING DEMAND. Add to the housing mix the 65 million Gen-Z generation that is entering housing now, fueling a surging demand for rentals, that fuels rent prices....that encourages people to buy as the costs can appear similar and even lower at times.
4. MONEY: The Greatest Wealth Transfer In History is already well underway, and its happening often well before death. Both Millennials and Gen-Z-ers will be gifted and inheriting from parents and grandparents over the next decade to help with housing. Now add in the appeal of these big, growing rental returns to investor buyers armed with cash aimed at hedging higher inflation.
5. SAVINGS. Consumers have over $3 trillion in savings, about $2 trillion more than pre-pandemic levels.
6. SUPPLY. The US has been UNDER-building by millions for the past decade-plus. All market forces are driven by supply and demand. Historically, the US has had a home supply of about 1.5 million homes available for purchase. The current inventory of single- and multi-family available homes is about 700,000, the lowest in more than 40 years. Home construction peaked in 2005, now with a deficit of about 3 million homes. It could take up to a decade or more to catch up.
7. NEW AUDIENCES. Some areas around the US that have seen enormous price surges in the past 24 months have been exposed to new, wealthier audiences that are staying. Work-From-Anywhere is here to stay.
8. REPLACEMENT HOUSING. The median age of a US home is about 44 years, the oldest on record. The demand for brand new or renovated homes keeps growing. Many homes will need massive repairs or replacement. Climate issues will also remove some existing housing stock.
9. NESTING. The concept of nesting and owning a home has not waned: its actually grown. The concept of owning more than one home has grown too and wealthier Baby boomers living longer, healthier lives have the money to own more than one home, often competing with first time buyers.
10. EMPLOYMENT. This time as the risk of recession rises, employment is high with even higher demand. Many are earning much more than 2 years ago. Many new economy jobs pay well.2022-06-02T12:15:00-07:002022-06-02T12:43:50-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:7255Market Update Webinar with Kyle RohrbaughThank you to everyone who joined us for a data-backed conversation on some surprising trends in real estate and mortgage lending. As the real estate market shifts and inflation rages there can be effective measures to consider.
In the recording below, you'll hear from Chris Murphy on residential real estate and Kyle Rohrbaugh on the mortgage environment. Enjoy!
<img src="https://fast.wistia.com/embed/medias/xjkp52pq5e/swatch" style="filter: blur(5px); height: 100%; object-fit: contain; width: 100%;" alt="" aria-hidden="true" onload="this.parentNode.style.opacity=1;" />
2022-04-06T14:28:00-07:002022-04-06T15:21:35-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:6471Waterfront Market Update - December 13, 2021The Washington State Waterfront Real Estate Market has been very active over the last two months. In this blog post, we look at the data through the end of November and look forward with our prediction for what the waterfront market will do in 2022.
The first thing we will look at is the number of actively listed single family waterfront homes in the Northwest MLS area. Remember, the NWMLS is one of the largest MLS's by geographic area in the United States and effectively spans from Lake Chelan all the way West to the Pacific Ocean and from the Northern border of Washington almost all the way down to Vancouver.
Actively Listed Single Family Waterfront Homes
Actively listed single family waterfront homes is one of our favorite stats because we think it clearly illustrates just how intense the competition is for waterfront property. In the chart above, which only looks at the last two years, it's very clear that we have an almost historic low for the number of actively listed single family waterfront homes. Our prediction is that we'll see this data point hit its historic low in either January or February of 2022, which may be the last time for a while inventory is this lean. For historical context, in the last 20 years, excluding last year, the lowest number of actively listed single family waterfront homes occurred in January 2006 at which time buyers has 1,250 waterfront homes from which they could choose. Then, last year, in February, this number reach the all time low of 248! We've creeping down to that number again right now and it is highly possible that we'll set a new record in Jan/Feb of 2022.
Number of New and Pending Waterfront Listings
This chart above illustrates exactly why we are in a decreasing inventory market. The number of pending transactions exceeds the number of new listings in October and November -- and we expect it to exceed the number of new listings in December, too. With the holidays consuming a lot of potential seller's bandwidth and the general belief that listing your home during the holidays produces lesser interest, we are seeing very few new listings hit the market. Concurrently, the news media is decribing several interest rate increases projected for 2022, so the pent up buying demand is experiencing an increased sense of urgency so they can lock in a very low interest rate on their mortgage.
Finally, these two charts above -- which are dynamic so you can scroll your mouse over them to see the specific data points -- illustrate what we've been reading about all year as the trend for real estate across the United States. Supply is very limited and prices are going up steadily. Until supply and demand shift back to a more balanced position, the price of real estate will continue escalating rapidly.
Looking forward to 2022
We expect waterfront real estate values to continue trending upward through 2022 and into 2023, primarily because of how few waterfront properties are currently listed and the significant pent up demand for vacation homes as the Covid-19 pandemic continues to hamper international and domestic travel. Having said this, it is anticipated that mortgage interest rates will increase next year, potentially into the mid-4% range. This means that some prospective buyers will be priced out of the market, which will slow demand. BUT, waterfront property has always been a luxury and, in general, about 50% of waterfront properties are purchased with cash. This means that the primary residence market will be more greatly impacted by the increase in mortgage rates, but we expect the demand for waterfront properties to be only marginally impacted by increased rates.
We hope you've had a wonderfuly 2021 and thank you again for reading our blog posts and using our website as a resource for your waterfront property search! As always, if there is anything we can do to help, please don't hesitate to <a href="https://www.washingtonwaterfronts.com/contact/">contact us</a>!2021-12-13T18:53:00-07:002021-12-16T15:55:31-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:6319Financing Trends for Waterfront Single-Family Homes on Mercer IslandKing County’s Mercer Island, located in the southern portion of Lake Washington, is a prime real estate location. Situated inside the Seattle metropolitan area, Mercer Island is easily accessed from both Seattle and Bellevue. The <a href="https://datausa.io/profile/geo/mercer-island-wa">annual median income for Mercer Island residents</a> is one of the highest in the country ($147,566), and the island’s stunning array of single-family waterfront homes reflects that.
Waterfront home inventory on Mercer Island has dramatically declined over the past five years — just as it has throughout Washington state. At the same time, median sold prices have risen impressively. From 2016 to 2020, median monthly inventory levels decreased by 45.5%. Across that same timeframe, Mercer Island waterfront home sales volume increased by 74.1%. In 2016, the median sold price for waterfront houses was $3.29M. In 2020, it was $4.55M.
Current Financing Trends: Mercer Island Waterfront Houses for Sale
Waterfront homes on Mercer Island have long attracted some of the highest listing and selling prices in the state, and that trend will likely continue. As mentioned above, the median selling price went from $3.29M to $4.55M from 2016 to 2020, an increase of 38.3%. In 2016, 57% of all waterfront homes sales were cash sales. In 2020, 53% of all Mercer Island waterfront home sales were cash. During the first quarter of 2021, when the median sold price of Mercer Island waterfront houses rose to $8.4M, 100% of waterfront home sales were cash sales.
Mercer Island Waterfront Inventory is Very Low
Low inventory levels are, perhaps, the most dominant story in the Washington State waterfront housing market. The table below compares Mercer Island’s annual monthly median inventory of waterfront property with other popular waterfront markets, including Seattle, Bellevue, Kirkland, and San Juan County.
2016
2018
2020
Q1, 2021
Mercer Island
22
15.5
12
2
Seattle
26.5
32.5
29
23.5
Bellevue
11
13.5
4
4
Kirkland
8.5
3
4
2
San Juan County
8.5
12
17
6
Low inventory levels, of course, affect almost every aspect of home buying and selling — especially in high-demand, high-end markets like Mercer Island. In addition to increasing competition among buyers, and the resulting increase in sold prices, low inventory levels almost inevitably shorten the length of time between when a house is listed and when offers are made and accepted. Low inventory levels also change buyers’ behaviors and strategies — especially in regards to financing.
<a href="https://www.washingtonwaterfronts.com/blog/single-family-residence-trends-in-washington-state-waterfront-property-predictions-for-the-rest-of-2021-and-beyond/">Waterfront home inventory in Washington will likely increase</a>, but when and by how much is not yet known. For the remainder of 2021, then, and well into 2022, homeowners on Mercer Island will enjoy a nearly ideal climate in which to list and sell their homes.
Cash is King on Mercer Island
High-end waterfront property in Washington state is often paid for with cash, but it’s particularly central to the market on Mercer Island. For comparison, here are the percentages of cash sales in some other areas in Washington state where the annual median sold prices of waterfront houses are well over $2M: Bellevue, Kirkland, and Lake Sammamish.
2016
2018
2020
Q1, 2021
Median Sold Price > $2M
Mercer Island
57%
66%
53%
100%
Bellevue
57%
47%
48%
100%
Kirkland
47%
45%
57%
80%
Lake Sammamish
45%
65%
56%
43%
Mercer Island Waterfront Homes Median Days On Market (DOM)
One way to assess the competitiveness of a particular real estate market is by looking at how long homes are listed before an offer (that is eventually accepted) is made. In 2016, Mercer Island waterfront homes were on the market before an offer was accepted for 60 days. In 2020, that number was just 10.5, indicating that buyers moved very aggressively and quickly to secure the home they wanted.
For buyers looking to purchase a home on the water on Mercer Island without the ability to pay cash, then, current financing trends — coupled with a significant inventory crunch and fast-moving buyers — present real challenges. However, we know some tried and true strategies for buyers with traditional financing to secure the house of their dreams. We’ll discuss those strategies below.
Price Per Square Foot for Mercer Island Waterfront Homes is on the Rise
As has already been shown, Mercer Island waterfront home prices are on the rise and have been for a while. Here’s a look at recent historical and current price per square foot ratios of homes sold, compared to other popular waterfront home locations, including Seattle, Bellevue, Kirkland, and Lake Sammamish.
2016
2018
2020
Q1, 2021
Median Price/Sq Ft
Mercer Island
$981
$1,000
$1,086
$1,834
Seattle
$739
$903
$978
$1,108
Bellevue
$880
$923
$1,261
$1,770
Kirkland
$848
$850
$1,583
$1,452
Mercer Island
$744
$838
$1,180
$1,116
As you can see, price per square foot ratios have been high for a while and are, overall, still increasing. Low inventory levels are partly to blame for the rapid increase in price per square foot ratio over the past five years, but investing in a waterfront home on Mercer Island has long been a sound financial decision that results in value gained over time.
Financing Mercer Island Waterfront Homes — Important Takeaways
Without a doubt, cash has the upper hand in the Mercer Island waterfront home market. For homebuyers with traditional financing, then, some real talk is essential.
Sold prices for houses on Mercer Island have been on the rise for more than five years — a reality that’s most likely going to continue for the foreseeable future.
Cash sales have historically outpaced conventional financing for Mercer Island waterfront home purchases. During the first quarter of 2021, cash sales obliterated any conventionally financed home purchases.
Because inventory is at an all-time low, the market is incredibly competitive for all homebuyers but especially for those with traditional financing.
Homebuyers without the cash to buy outright will need to act strategically and aggressively to purchase the waterfront home they desire on Mercer Island.
Yes, Home Sellers Prefer Cash, But There’s More to the Story
Homesellers prefer cash. It’s true, and cash sales are dominant in the Mercer Island waterfront housing market. If you’re a buyer looking to purchase waterfront property on the island, a cash offer will improve your chances of getting the home, but buyers with conventional financing shouldn’t lose hope.
How Buyers With Traditional Financing Can Maximize Their Offers for Mercer Island Waterfront Homes
For buyers without the ability to make a cash offer on a Mercer Island waterfront home, here are some strategies we recommend our clients employ that can work wonders — even in a competitive environment like the one we’re currently in:
Provide as hefty a down payment as you can.
Obtain a pre-underwriting approval letter from a <a href="https://www.washingtonwaterfronts.com/buyers/mortgage-pre-approval/">respected, local mortgage lender</a>, so you can prove the amount of funding you’re working with.
Make an offer well above the listing price to shut out competing offers. Homesellers may love cash but they love selling their home to a higher offer more.
Work with a licensed home inspector to obtain a pre-inspection prior to the offer review date. Doing so will allow you to waive the home inspection contingency provided there are no problems with the home’s condition that would need to be addressed.
Include an appraisal gap guarantee along with your offer. Doing so reassures the homeseller that, even if your lender’s appraisal comes in below your offer, you have the funds to make up the difference.
Work with a knowledgeable and experienced <a href="https://www.washingtonwaterfronts.com/about/">Washington waterfront real estate agent</a>.
When to Buy or Sell a Mercer Island Waterfront Home
Competition for Mercer Island waterfront houses is incredibly high right now — as are listing prices. A true seller’s market, there’s never been a better time to list and sell your Mercer Island waterfront home.
If you’re looking to buy a home on Mercer Island, current conditions are tough, yes, but they don’t necessarily mean you should wait until market conditions cool off. Why?
Prices for waterfront homes on Mercer Island have been high for many years and will most likely stay at the top of the waterfront market.
Mortgage rates are still low. If you wait until prices drop, the odds are that mortgage rates will rise. The result? You’ll end up paying more in the long run due to higher interest rates.
If you’re interested in purchasing a home on the water on Mercer Island, we can help. <a href="https://www.washingtonwaterfronts.com/about/">Contact a Washington Waterfronts team member today</a>.
2021-11-16T12:04:00-07:002021-12-02T08:58:19-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:6284Financing Trends for Waterfront Single-Family Homes on Lake WashingtonKing County’s Lake Washington is home to some of the most sought-after waterfront real estate in the country. As waterfront home inventory has declined over the past five years along Lake Washington, sale prices have skyrocketed. From 2016 to 2020, median monthly inventory levels decreased by 45.9%. Across the same timeframe, the transaction volume of Lake Washington waterfront home sales increased by 80.25%, and the median sold price rose 28.1% from $3.22M to $4.125M.
If you’re looking to buy or sell waterfront property on Lake Washington, it’s important to understand just how common cash sales are. According to our proprietary Washington waterfront home data, cash sales represent over 50% of all waterfront home sales on Lake Washington.
Read on to learn more about current and historical financing trends for <a href="https://www.washingtonwaterfronts.com/lake-washington/">waterfront single-family homes on Lake Washington</a>.
Financing Trends For Lake Washington Waterfront Houses For Sale
Waterfront homes on Lake Washington have always been sold at a premium. Over the past five years or so, they — like waterfront homes throughout Washington state — have attracted much higher prices. As described above, between 2016 and 2020, the median sold price for Lake Washington waterfront single-family residences rose from $3.22M to $4.125M. In the first quarter of 2021, the median sold price was an impressive $6.55M.
Even more remarkable? Almost every waterfront home on Lake Washington that sold in the first quarter of 2021 was paid for with cash — 94% of the total sales volume of $71.48M. In 2020, with almost $728M in total transactional sales, 56% of all Lake Washington waterfront homes sales were cash sales. Here’s some greater detail on financing data for waterfront houses on Lake Washington.
All-Cash Purchases for Waterfront Property on Lake Washington are on the Rise
Cash sales have played a significant role in waterfront home transactions on Lake Washington for years, but it’s not the only market where cash is king. Here’s a look at Lake Washington’s percentage of cash sales along with a handful of other parts of Washington with median sold prices over $1M: Mercer Island, San Juan County, Seattle, and Lake Sammamish. For comparison, some data is also provided for some areas in Washington where waterfront median house sold prices are under $1M: Whidbey Island, Pierce County, and Kitsap County.
2016
2018
2020
Q1 2021
Median Sold Price > $1M
Lake Washington
59%
58%
56%
94%
Mercer Island
57%
66%
53%
100%
San Juan County
59%
35%
38%
44%
Seattle
60%
50%
55%
64%
Lake Sammamish
45%
65%
56%
43%
Median Sold Price < $1M
Whidbey Island
41%
52%
44%
49%
Pierce County
18%
29%
31%
18%
Kitsap County
40%
39%
48%
45%
As you can see, cash sales are dominant in those parts of Western Washington State where median sold prices are higher than in other parts of Washington State. (For more examples, see these financing trends for Hood Canal.) For buyers looking to purchase a home on Lake Washington without the ability to use cash, this can present some challenges. We’ll discuss strategies for buyers with traditional financing below.
Median Sold Prices and Price Per Square Foot for Lake Washington Waterfront Homes is Increasing
Lake Washington home prices are on the rise and have been for a while. Here’s a look at historical and current median sold prices on Lake Washington, as well as the price per square foot ratio, compared to other popular waterfront home locations, including Seattle, Bellevue, and San Juan Island.
Median Sold Price
2016
2018
2020
Q1 2021
Lake Washington
$3,372,500
$3,743,000
$4,200,000
$6,700,000
Seattle
$1,200,000
$1,400,000
$1,650,000
$1,625,000
Bellevue
$3,950,000
$3,840,000
$4,800,000
$8,994,000
San Juan Island
$1,200,000
$1,395,000
$1,742,500
$1,395,900
Price/Sqft
Lake Washington
$925
$1,094
$1,329
$1,679
Seattle
$739
$903
$978
$1,108
Bellevue
$880
$923
$1,261
$1,770
San Juan Island
$549
$559
$618
$727
As you can see, for many parts of Western Washington State, waterfront home median sold prices and price per square foot ratios are increasing rapidly. It’s worth noting, however, that the current inventory crunch is not wholly responsible for high sale prices — especially on Lake Washington. 2016 data reveals that even five years ago, waterfront home sellers were able to command high prices. For buyers and sellers of Lake Washington waterfront property then, investing in a waterfront home on Lake Washington has long been and will likely remain a sound financial decision.
Lake Washington Waterfront Inventory is at Historic Lows
Low inventory levels are, perhaps, the most dominant story in the housing market — not only regarding waterfront homes in Washington State but across the country. The table below compares Lake Washington’s annual monthly median inventory of waterfront property with other in-demand waterfront markets, including Seattle, Bellevue, Olympia, and Mercer Island.
2016
2018
2020
Q1 2021
Lake Washington
61
45.5
33
14
Seattle
26.5
32.5
29
23.5
Bellevue
11
13.5
4
4
Olympia
47.5
39
17
8
Mercer Island
22
15.5
12
2
Low inventory levels, of course, affect many aspects of home buying and selling. In addition to increasing competition among buyers, which can result in higher sale prices, low inventory levels can also shorten the length of time between listings and offers. Low inventory levels also tend to change buyers’ strategies — especially those seeking to finance waterfront purchases with traditional mortgages.
It is likely that <a href="https://www.washingtonwaterfronts.com/blog/single-family-residence-trends-in-washington-state-waterfront-property-predictions-for-the-rest-of-2021-and-beyond/">waterfront home inventory in Washington will increase soon</a> but not dramatically. This means the remainder of 2021 and 2022 should provide an ideal market and climate for homeowners looking to sell their homes.
Financing Lake Washington Single-Family Residences — Key Takeaways
Cash is a major player in the Lake Washington waterfront home market. With that in mind, here are some key takeaways for individuals looking to buy waterfront property there.
Sold prices for houses on Lake Washington have been on the rise for more than five years.
It is common for cash sales to outpace conventional financing for Lake Washington waterfront home purchases.
Because inventory is at an all-time low, current conditions make for a very competitive market for homebuyers.
Homebuyers without the cash to buy their dream waterfront home outright will need to act creatively and aggressively.
Home Sellers Prefer Cash — But That’s Not The Whole Story With Lake Washington
Waterfront home sellers tend to prefer to be paid in the way that is quickest and most secure (so long as it also provides the highest price), and cash is certainly the fastest and most secure. But it isn’t just homesellers’ cash preferences that account for the large percentage of cash sales on Lake Washington.
Simply put: <a href="https://www.seattletimes.com/seattle-news/data/wealth-without-working-king-county-ranks-8th-in-u-s-for-income-from-assets/">There is a lot of wealth in King County</a> and on Lake Washington in particular. Making a purchase in cash — if you’ve got it — is an easy way to purchase a property at what amounts to a discount, since there is no lender involved to collect interest on a mortgage over time. There’s also tax deferment considerations for individuals who have recently sold an investment property and need to reinvest that cash in another investment property to avoid paying capital gains and recapture taxes.
How Buyers With Traditional Financing Can Maximize Offers on Lake Washington
For buyers without the ability to make a cash offer on a waterfront home on Lake Washington, here are some effective strategies to sweeten a conventionally financed offer:
Obtain a pre-underwriting approval letter from a <a href="https://www.washingtonwaterfronts.com/buyers/mortgage-pre-approval/">respected, local mortgage lender</a> before looking for a home, so you know — and can prove — the amount of funding you’re working with.
Provide a sizable down payment.
Obtain a pre-inspection with a licensed home inspector prior to the offer review date so that you can waive the home inspection contingency with your formal offer. (Only do this if there are no visible issues with the home’s condition.)
Offer well above the listing price.
Along with your offer, include an appraisal gap guarantee. This lets the homeseller know that even if your lender’s appraisal comes in below your offer, you have funds available to make up the difference, so there will be no need for further negotiation.
Make sure you choose to work with a knowledgeable and experienced <a href="https://www.washingtonwaterfronts.com/about/">Washington waterfront real estate agent</a>.
When to Buy or Sell a Waterfront Home on Lake Washington
Competition for Lake Washington waterfront property is high right now — as are prices. It is a true seller’s market, so if you’ve been considering selling your Lake Washington waterfront home, now is a great time.
If you’re looking to buy, current conditions don’t necessarily mean you should wait to purchase your dream home on Lake Washington. Here’s why:
Prices for waterfront homes on Lake Washington have been high, will most likely stay high, and will almost certainly move higher in the future.
Mortgage rates are at record low levels, so you’ll pay more in the long run than if you wait and mortgage rates rise — even if home prices do come down a little.
Low inventory levels might continue for a while; if a home is listed that you know you’ll love, you’ll want to move on it to ensure you’re able to buy what you want.
If you’re interested in purchasing a home on Lake Washington, we can help. <a href="https://www.washingtonwaterfronts.com/about/">Contact a Washington Waterfronts team member today</a>. 2021-11-04T11:56:00-07:002021-12-02T08:54:25-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:6283What's Hot in Waterfront Property for Kitsap County, WAKitsap County, WA, is a beautiful area with stunning coastal views that includes the Kitsap Peninsula, as well as <a href="https://www.bainbridgewa.gov/192/About-Bainbridge">Bainbridge Island</a> and <a href="https://parks.state.wa.us/476/Blake-Island">Blake Island</a>. Throughout Western Washington State, waterfront houses are in short supply with rising prices. Kitsap County is no different.
If you’re curious about what types of waterfront homes in Kitsap County are selling the fastest right now, read on.
What You Should Know About Waterfront Homes for Sale in Kitsap County, WA
For anyone interested in buying or selling a waterfront home in Kitsap County, knowing what buyers are most interested in can be very helpful. Here’s what our proprietary data shows.
Waterfront Homes in Kitsap County are Selling Fast
Over the past five years, the length of time Kitsap County waterfront property has spent on the market has steadily decreased. In 2016, the annual median days on market (DOM) for waterfront homes in Kitsap County was 47.5. In 2020, annual median DOM was 20. In the first quarter of 2021, it was just seven.
Here’s a comparison of Kitsap County annual median DOM with a handful of other counties across 2016, 2018, 2020, and the first quarter of 2021. Throughout all of Western Washington State, waterfront homes that sell are spending fewer and fewer days on the market before being purchased. Kitsap County's sold waterfront property is among the fastest selling in the region.
2016
2018
2020
1st Q, 2021
Kitsap County
47.5
20
20
7
King County
22
19
10
14
Pierce County
56
33
14
6
San Juan County
219.5
144
104
63
Waterfront Home Inventory Has Plummeted in Kitsap County
Kitsap County homes on the waterfront have long been desirable, and there are usually scores of homes on the market for homebuyers to choose from. That is no longer the case.
In 2016, the median monthly inventory for waterfront homes in Kitsap County was 118. In 2018, that number dropped to 64. In 2020? Just 45 homes were on the market each month. During the first quarter of 2021, the median number of waterfront houses on the market in Kitsap County was a meager 18.
Low inventory levels in an already high-demand market have, of course, increased competition between buyers, resulting in higher sales volume and higher selling prices. Here’s exactly what that has looked like in Kitsap County.
Between 2016 and 2020, the transactional sales volume of waterfront homes in Kitsap County rose from $228,992,672 to $339,577,851 — an increase of 48.29%.
In 2016, 301 Kitsap County waterfront homes sold. In 2020, the number of waterfront homes that sold in Kitsap County was 292, nine fewer than in 2016, yet the total sales volume increased by $110,585,179 — money that, for the most part, went into the pockets of Kitsap County waterfront homesellers.
In 2016, the median sold price in Kitsap County was $626,050. In 2020, that figure was $908,000. For the first quarter of 2021, the median sold price was $930,000.
Waterfront Home Sellers in Kitsap County Are Increasingly Getting Their Asking Price — & Then Some
The sales price to listing price (SP/LP) ratio is a helpful way to gauge a particular real estate market’s competitiveness. In 2016, the average sale-to-list ratio for Kitsap County was 95.89%. In 2018, it was 97.32%. In 2020, the SP/LP for Kitsap County was 98.93%. In the first quarter of 2021, the SP/LP was 101.43%.
Over the past five years, then, the Kitsap County waterfront home market has been getting more and more competitive. This is no surprise as inventory levels are at historic lows. As a result, homesellers in Kitsap County are unlikely to take less than their asking price. In fact, as data from the first quarter of 2021 shows, in many cases, buyers must be willing to offer more than the list price to get the waterfront home they desire.
Waterfront Median Sold Prices are on the Rise in Kitsap County
High desirability coupled with high demand and low supply has resulted in excellent sale prices for homesellers in Kitsap County.
The median sold price for Kitsap County single-family waterfront residences rose 45.04% between 2016 and 2020. From the first quarter of 2020 to the first quarter of 2021, it rose another 14.96%.
A Look At What Fast-Selling Homes on the Water in Kitsap County Have in Common
While most listed waterfront homes in Kitsap County are selling relatively fast, some are selling faster than others. Here is a closer look at the size, features, and amenities for those waterfront houses in Kitsap County that spent less than 10 days on the market (DOM) during the first quarter of 2021.
Average Square Footage, Price Per Square Foot, and SP/LP
Waterfront homes in Kitsap County that sold in 10 days or less during the first three months of 2021 had an average of 2,160 square feet, while the average square footage for homes that took longer to sell was 3,249 square feet. For waterfront homes that sold in 10 days or less, the price per square foot was $438.45. For those that took more than 10 days to sell, the price per square foot was slightly lower at $426.81. Homebuyers who move fast, then, seem to prefer waterfront homes that are more modest in size.
The sales price to list price ratio (SP/LP) of waterfront houses that sold quickly as opposed to those that took longer to sell sheds more light on what buyers are after and the options home sellers have. Kitsap County waterfront residences that took longer than 10 days to sell saw a SP/LP ratio of 92.55%, meaning that homesellers accepted offers that were more than 7% less than their listing price. Homes that sold in 10 days or less, on the other hand, had a SP/LP ratio of 103.87%. The takeaway? Homes that took longer to sell were listed at prices higher than buyers wanted to pay — even in the current tight market. This likely increased the amount of negotiating involved, which furthered the time to sale. A higher listing price also required many homeowners to accept an offer below their asking price.
Desirable Waterfront Views in Kitsap County, WA
While almost any type of waterfront view is universally enjoyed, some types of views are more desirable than others in terms of how fast a Kitsap County waterfront home sells. Here is a list of the waterfront types and views that homes with a DOM of 10 days or less in the first quarter of 2021 offered.
Waterfront and View Type
Percent of Properties Sold in 10 Days or Less in Q1 2021 with Attribute
Bay View
50%
Mountain View
50%
Puget Sound View
71%
Low Bank or No Bank
64%
Saltwater Waterfront
64%
Bulkhead
43%
Topographical Attributes, Site Features and Amenities
Waterfront homes in Kitsap County offer much more than awe-inspiring views. The land on which a home sits, the site’s features, and a home’s amenities all feature into homebuyers’ preferences. Here are some of the most common topographical traits, site features, and amenities for those Kitsap County waterfront homes that sold in 10 days or less in the first quarter of 2021.
Topography, Site Features, and Amenities
Percentage of Homes with Attribute (Less than 10 DOM - Q1 2021)
Garden Space
64%
Level Ground and/or Partial Slope
71%
Dock
57%
Deck and/or Patio
93%
Full or Partial Fencing
64%
Cable TV
57%
High Speed Internet
50%
Outbuildings
57%
Bath Off Primary Bedroom
79%
Contact Washington Waterfronts Today to Buy or Sell a Kitsap County Waterfront Home
Whether you’re looking to sell your waterfront property or you’d like to purchase a new waterfront home, we can help. Our waterfront specialists are knowledgeable, experienced, and dedicated to helping our clients reach their waterfront real estate goals. <a href="https://www.washingtonwaterfronts.com/about/">Contact us today</a>.
2021-11-04T09:10:00-07:002021-11-04T13:40:42-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:6233Single Family Residence Trends in Washington State Waterfront Property: Predictions for the Rest of 2021 and BeyondThe United States’ housing market has seen a remarkable recovery since the 2008 recession. So much so, that across the country, <a href="https://fred.stlouisfed.org/series/MSPUS">the median sales price for houses sold</a> has been increasing steadily and is at an all-time high thanks to historically low mortgage rates, intense competition, and low inventory.
In many ways, both here in Washington and throughout the rest of the U.S., the current lack of available homes on the market can be traced to both the ripple effects of 2008 and the ongoing COVID-19 pandemic. Overbuilding in the years leading up to the 2008 recession led to a dramatic cessation in new home construction in its wake. While demand has increased, the supply of new homes has not yet recovered enough to meet that demand. In addition, fewer homeowners listed their homes for sale amid the economic uncertainties of a global pandemic. Just how tight is the housing market? <a href="https://fred.stlouisfed.org/series/ACTLISCOUUS">Less than half a million single family residences were listed nationwide in April of this year</a>, down from just over a million homes in April 2020, an already incredibly low number.
The inventory crunch is beginning to ease slightly, but it’s unlikely that home prices will slow down anytime soon. We’ve done a deep dive into proprietary data to show how current market conditions are affecting buyers and sellers of Washington waterfront property, from lakefront to oceanfront to everything in between. Read on to find out more.
Washington State Waterfront Homes in 2021
Western Washington waterfront houses have long been among some of the most desirable in the country. In addition to thousands of miles of waterfront in the state, the concentration of wealth here has allowed for the construction of impressive homes that offer a combination of view, waterfront access, amenities, and privacy found nowhere else.
Of course, the real estate market realities facing the rest of the country have also affected waterfront realty in Washington. Here are some of the more salient details in the Washington waterfront housing market, and for the most part, the insights here hold true throughout western Washington — from Seattle to Bremerton to Lake Sammamish.
Waterfront trends over the past five years in Washington State
To get a more thorough understanding of the waterfront housing market in Washington state in 2021 and beyond, it's important to look at data that precedes the unique conditions of right now. Here are some broad but notable trends in the Washington waterfront real estate market as a whole from 2016 through the first quarter of 2021.
A quick note: While our proprietary data set only includes the first quarter of 2021, when looking at the overall trends of the previous five years, we can still draw some meaningful conclusions about what the rest of the year and into 2022 will likely bring. More on that later.
Median Sales Price vs Listing Price (SP/LP) for Western Washington State
2016
2017
2018
2019
2020
1st Q, 2021
95.82%
96.51%
96.78%
96.63%
98.50%
100.00%
Median DOM (Days on Market) for Western Washington State
2016
2017
2018
2019
2020
1st Q, 2021
43
35
27
29
16
10
Annual Monthly Median Total Inventory for Western Washington State
2016
2017
2018
2019
2020
1st Q, 2021
1471
1174
1073
957
544
241
Financing Trends for Western Washington State: Percentage of Waterfront Home Sales Made in Cash
2016
2017
2018
2019
2020
1st Q, 2021
29.5%
28.9%
31.9%
30.8%
30.3%
33%
The overall trends for waterfront homes in Washington state show a real estate market that, over time, has been consistently what we refer to as a seller's market — even before the pandemic. The subtle but meaningful rise in cash purchases coupled with the dramatic drop in the length of time a house is listed before it's purchased (DOM) creates a less than advantageous climate for buyers with conventional mortgages, although there are numerous strategies that can help <a href="https://www.washingtonwaterfronts.com/blog/what-a-tight-waterfront-housing-market-means-for-buyers/">waterfront home buyers with traditional financing compete with cash offers</a>.
Read on to gain waterfront home insights specific to popular areas in Washington.
Washington State Waterfront Property Trends: King County
The most populous county in Washington, King County is also home to some of the most sought-after waterfront residences in the entire state. <a href="https://www.washingtonwaterfronts.com/seattle/">Seattle waterfront homes</a>, including downtown Seattle waterfront condos, often provide breathtaking Puget Sound and mountain views, while simultaneously offering access to all the cultural and entertainment offerings of the city.
King County has also seen a remarkable drop in inventory coupled with high sales prices, decreasing DOM, an overall increase in cash purchases, and a rising SP/LP.
Median Sales Price vs Listing Price (SP/LP) for King County, WA
2016
2017
2018
2019
2020
1st Q, 2021
97.89%
97.56%
98.31%
97.18%
98.93%
100.00%
In 2016, King County had a SP/LP ratio of 97.89% — the highest that year in all the 18 western Washington counties surveyed in this report. To highlight just how intense competition is for waterfront property throughout the region: As of Q1, 2021, 10 of the 18 counties had SP/LP ratios of 100% or better.
Median DOM (Days on Market) for King County, WA
2016
2017
2018
2019
2020
1st Q, 2021
19
19
15
19
10
11
Annual Monthly Median Inventory for King County, WA
2016
2017
2018
2019
2020
1st Q, 2021
185.5
155.5
155
174
112
54
Annual Median Sold Price for King County, WA
2016
2017
2018
2019
2020
1st Q, 2021
$855,000
$1,090,000
$1,000,000
$1,227,500
$1,249,888
$1,247,250
Financing Trends for King County, WA: Percentage of Waterfront Home Sales Made in Cash
2016
2017
2018
2019
2020
1st Q, 2021
46%
35%
43%
43%
44%
71%
Cash sales represented a sizable portion of King County real estate sales long before the effects of the pandemic and the current inventory squeeze became realities. For buyers without the cash to buy King County waterfront property outright, competition from cash buyers can represent a significant obstacle in purchasing the home of their dreams. <a href="https://www.washingtonwaterfronts.com/about/">Our skilled and experienced team can help</a>.
As you can see, even before the extreme inventory lows of 2020 and 2021, King County waterfront property sales prices were consistently rising. This trend indicates that waterfront property in King County will remain a solid and reliable investment for the foreseeable future.
Washington State Waterfront Property Trends: Pierce County
Home to Tacoma, Lakewood, and Mount Rainier, Pierce County offers city lovers and those looking to escape the city plenty of one of a kind waterfront homes, including stunning lakefront homes on <a href="https://www.washingtonwaterfronts.com/bonney-lake/">Bonney Lake</a> and <a href="https://www.washingtonwaterfronts.com/lake-tapps/">Lake Tapps</a>.
Here is a closer look at some of the waterfront home trends in Pierce County, WA over the past five or so years.
Median Sales Prices vs Listing Price (SP/LP) for Pierce County, WA
2016
2017
2018
2019
2020
1st Q, 2021
95.38%
96.36%
96.30%
96.20%
98.87%
100.00%
Median DOM (Days on Market) for Pierce County, WA
2016
2017
2018
2019
2020
1st Q, 2021
49
33
31
30
13
6
Annual Monthly Median Inventory for Pierce County, WA
2016
2017
2018
2019
2020
1st Q, 2021
167
139.5
117
86
60
26
Annual Median Sold Price for Pierce County, WA
2016
2017
2018
2019
2020
1st Q, 2021
$580,000
$610,000
$675,000
$709,375
$820,000
$950,000
Financing Trends for Pierce County, WA: Percentage of Waterfront Home Sales Made in Cash
2016
2017
2018
2019
2020
1st Q, 2021
18%
31%
29%
22%
31%
18%
Pierce County, Washington, as these numbers show, then, is also seeing a significant rise in waterfront home sale prices, along with depleted inventory. Waterfront buyers in 2020 and the first quarter of 2021 have proven especially aggressive, purchasing property in 13 days or less and 6 days or less, respectively. Another important note: For prospective buyers of waterfront property who will be financing their purchase with a conventional mortgage, Pierce County remains a more hospitable purchasing climate than King County — even in the midst of outsized demand and reduced supply.
2022 will likely see inventory expand. Prices, too, will likely continue to rise, although probably not at the current pace.
Washington State Waterfront Property Trends: Thurston County
Thurston County waterfront property real estate listings include stunning Olympia shoreline, lakefront along <a href="https://www.washingtonwaterfronts.com/long-lake/">Long Lake</a>, as well as beachfront along Carlyon Beach and other highly desirable areas.
Here are some of the current trends for waterfront homes in Thurston County:
Median Sales Prices vs Listing Price (SP/LP) for Thurston County, WA
2016
2017
2018
2019
2020
1st Q, 2021
96.27%
97.86%
96.57%
97.64%
98.19%
97.38%
Median DOM (Days on Market) for Thurston County, WA
2016
2017
2018
2019
2020
1st Q, 2021
26
27
23
24
10.5
7
Annual Monthly Median Inventory for Thurston County, WA
2016
2017
2018
2019
2020
1st Q, 2021
62
47
48.5
43
22
12
As you can see, inventory in Thurston County, WA has undergone the same depletion as other counties, affecting DOM, buyer behavior, and list and sold prices.
Annual Median Sold Price for Thurston County, WA
2016
2017
2018
2019
2020
1st Q, 2021
$438,750
$507,500
$550,000
$600,000
$620,137
$831,250
Financing Trends for Thurston County, WA: Percentage of Waterfront Home Sales Made in Cash
2016
2017
2018
2019
2020
1st Q, 2021
20%
19%
24%
33%
27%
17%
The jump in waterfront home sale prices in Thurston County between 2016 and the first quarter of 2021 is 89.46%, which is one of the most significant in western Washington state. While home sale prices could continue to rise in Thurston County throughout the rest of 2021 and into 2022, it’s unlikely they will rise at the pace seen here. Regardless, Thurston County waterfront houses are becoming increasingly valuable and represent a valuable investment opportunity for buyers who desire waterfront property in Washington state.
Cash financing has not been as prevalent in Thurston County as it has been in other Washington counties. For buyers looking to finance, this means a waterfront home in Thurston County, WA might be more easily attained than in areas where cash makes the market more competitive.
Washington State Waterfront Property Trends: Puget Sound
Puget Sound is a large body of ocean water nestled between the Olympic Peninsula to the west, <a href="https://www.washingtonwaterfronts.com/seattle/">Seattle</a> and the Washington State mainland to the east, Tacoma to the south, and Admiralty Inlet and the Strait of San Juan de Fuca to the north. <a href="https://www.washingtonwaterfronts.com/puget-sound/">Puget Sound waterfront</a> offers a diversity of shoreline, including cities like Seattle, <a href="https://www.washingtonwaterfronts.com/bellevue/">Bellevue</a>, and <a href="https://www.washingtonwaterfronts.com/everett/">Everett</a>; as well as islands like <a href="https://www.washingtonwaterfronts.com/bainbridge-island/">Bainbridge Island</a>, <a href="https://www.washingtonwaterfronts.com/fox-island/">Fox Island</a>, and <a href="https://www.washingtonwaterfronts.com/vashon-island/">Vashon Island</a>; and less populated areas such as <a href="https://www.washingtonwaterfronts.com/agate/">Agate</a> and <a href="https://www.washingtonwaterfronts.com/suquamish/">Suquamish</a>.
Median Sales Prices vs Listing Price (SP/LP) for Puget Sound
2016
2017
2018
2019
2020
1st Q, 2021
96.66%
97.35%
97.56%
97.30%
99.01%
100.00%
Median DOM (Days on Market) for Puget Sound
2016
2017
2018
2019
2020
1st Q, 2021
32
23
20
22
12
7
As the median days on market have dropped considerably, the sales price to list price ratio has steadily risen.
Annual Monthly Median Inventory for Puget Sound
2016
2017
2018
2019
2020
1st Q, 2021
62
47
49
43
22
12
Annual Median Sold Price for Puget Sound
2016
2017
2018
2019
2020
1st Q, 2021
$545,000
$599,900
$650,000
$700,000
$782,000
$800,000
Financing Trends For Puget Sound: Percentage of Waterfront Home Sales Made in Cash
2016
2017
2018
2019
2020
1st Q, 2021
24.71%
24.56%
26.63%
26.48%
25.52%
30%
There has not been a significant change in the percentage of waterfront property in Puget Sound purchased with cash over the past five years and into 2021. However, certain areas in Puget Sound — King County, for instance — have seen considerably more cash purchases and will likely continue to.
While waterfront homes for sale on Puget Sound have long been desirable, current market realities have compounded to create an environment of intense competition. While we anticipate that current inventory levels will rise throughout the rest of 2021 and into 2022, waterfront homes in Puget Sound will still continue to list and sell at historically high prices — and quickly, too — for the foreseeable future.
Washington State Waterfront Property Trends: Hood Canal
Separating the Olympic Peninsula from the Kitsap Peninsula, Hood Canal offers over 212 miles of diverse shoreline that includes everything from forests to wineries to coves. <a href="https://www.washingtonwaterfronts.com/hood-canal/">Waterfront homes in Hood Canal</a> offer breathtaking views and unparalleled privacy in a part of the state known for its wilderness, its excellent fishing and shellfish hunting, as well as its year-round outdoor recreation.
Here are some of the current trends in the Hood Canal waterfront housing market.
Median Sales Prices vs Listing Price (SP/LP) for Hood Canal
2016
2017
2018
2019
2020
1st Q, 2021
94.67%
96.49%
96.24%
96.03%
99.89%
101.50%
Median DOM (Days on Market) for Hood Canal
2016
2017
2018
2019
2020
1st Q, 2021
73
53
34
26
14
7
As we’ve seen in other areas, as the median days on market have dramatically dropped, the sales price to list price ratio has steadily risen, indicating a competitive market that favors sellers.
Annual Monthly Median Inventory for Hood CaNAL
2016
2017
2018
2019
2020
1st Q, 2021
107
78
61
45
25
11
Annual Median Sold Price for Hood Canal
2016
2017
2018
2019
2020
1st Q, 2021
$383,000
$437,000
$470,000
$560,501
$610,000
$800,000
Financing Trends For Hood Canal: Percentage of Waterfront Home Sales Made in Cash
2016
2017
2018
2019
2020
1st Q, 2021
33.14%
36.76%
31.87%
29.71%
35.80%
28%
As was to be expected, the trends in the Hood Canal waterfront housing market reveal themes that are common throughout most of the state: Home prices are steadily rising, and waterfront home sellers on Hood Canal are increasingly getting what they ask for their homes. Competition is fierce. Although we expect the historically low inventory numbers to increase in 2022, even if mortgage rates rise as expected, houses on the water in Hood Canal will continue to sell fast and at excellent prices.
Cash financing of waterfront property in Hood Canal has stayed relatively consistent at about one-third of all purchases. That trend will likely continue, meaning there is more room in this area for homebuyers with traditional financing than in some other areas.
It should be noted that the total number of waterfront homes sold in the first quarter of 2021 was just 25 — a small sample size, but not an insignificant one, given the fact that low inventory levels have been and will continue to be a major factor in purchasing and selling trends on Hood Canal well into 2022.
Washington State Waterfront Property Trends: Lake Washington
Located in King County, Lake Washington is the state's largest freshwater lake. Situated right between Bellevue and Seattle, owners of <a href="https://www.washingtonwaterfronts.com/lake-washington/">Lake Washington waterfront homes</a> enjoy an unbeatable location, which is just one of the reasons why Lake Washington homes are among the most sought after in the state. There is also the reason of the homes themselves, which often feature stunning designs, luxurious amenities and awe-inspiring views of the city and mountains. Whether used as a primary residence or a vacation home, Lake Washington waterfront property, in many ways, sets the standard for waterfront homes in Washington state.
Median Sales Prices vs Listing Price (SP/LP) for Lake Washington
2016
2017
2018
2019
2020
1st Q, 2021
94.24%
94.82%
98.05%
95.43%
97.83%
93.08%
Median DOM (Days on Market) for Lake Washington
2016
2017
2018
2019
2020
1st Q, 2021
35
42.5
15
47.5
14
43
Annual Monthly Median Inventory for Lake Washington
2016
2017
2018
2019
2020
1st Q, 2021
61
53.5
45.5
54
33
14
Annual Median Sold Price and Price per Sqft for Lake Washington
2016
2017
2018
2019
2020
1st Q, 2021
Annual Median Sold Price
$3,220,000
$3,034,000
$3,412,500
$3,112,500
$4,125,000
$6,550,000
Median Price Per Sq Foot
$925
$1,046
$1,094
$1,084
$1,329
$1,679
Financing Trends For Lake Washington: Percentage of Waterfront Home Sales Made in Cash
2016
2017
2018
2019
2020
1st Q, 2021
59%
44%
58%
49%
56%
94%
The exclusivity and desirability of waterfront property along Lake Washington's shores is hard to overstate. While the sales price to list price ratio and days on market may seem to suggest a more sluggish housing market compared to other parts of the state, the reality is that homes on Lake Washington are listed at a much higher premium than waterfront houses in other areas. As such, their SP/LP is lower, but — as you can see — they still command a much higher price per square foot and, overall, sell at a much higher price than waterfront homes in other areas. As Lake Washington waterfront inventory has decreased, that trend has only gotten more pronounced.
We expect Lake Washington homes on the water to continue to command high prices and to attract cash buyers well into 2022 and beyond.
Washington State Waterfront Property Trends: Mercer Island
Nestled inside Lake Washington, Mercer Island is connected by a bridge to Bellevue on the east and Seattle on the west, which makes for an easy commute to either metropolitan center — just one of the many reasons Mercer Island is one of the premier locations for waterfront homes in Washington state.
Median Sales Prices vs Listing Price (SP/LP) for Mercer Island
2016
2017
2018
2019
2020
1st Q, 2021
93.81%
96.69%
97.76%
95.95%
97.24%
92.41%
Median DOM (Days on Market) for Mercer Island
2016
2017
2018
2019
2020
1st Q, 2021
60
4
15
41.5
10.5
34
Annual Monthly Median Inventory for Mercer Island
2016
2017
2018
2019
2020
1st Q, 2021
22
19
15.5
18
12
2
Annual Median Sold Price and Price per Sqft for Mercer Island
2016
2017
2018
2019
2020
1st Q, 2021
Annual Median Sold Price
$3,285,500
$3,576,000
$3,180,000
$4,230,000
$4,555,000
$8,398,000
Median Price Per Sq Foot
$981
$969
$1,000
$935
$1,086
$1,834
Financing Trends For Mercer Island: Percentage of Waterfront Home Sales Made in Cash
2016
2017
2018
2019
2020
1st Q, 2021
57%
42%
66%
26%
53%
100%
The <a href="https://www.washingtonwaterfronts.com/mercer-island/">Mercer Island waterfront home market</a> has much in common with Lake Washington's; in large part, because of its location, exclusivity and the luxury quality of homes on the water there. A highly competitive climate has pushed home prices higher, but Mercer Island waterfront property was among the most expensive and competitive even before the current pressures of the Covid-19 pandemic, low mortgage rates, and low inventory. Home prices on Mercer Island will stay high into 2022 and beyond, although they will likely not appreciate at the rate we've seen in the last couple of years.
Washington State Waterfront Property Trends: Bainbridge Island
One of the most beautiful natural places in all of western Washington state, Bainbridge Island lies to the west of Seattle in Puget Sound. Just a ferry ride away from Pier 52 in Seattle, it is connected on the northwest side to the mainland via a bridge. It is a place with an abundance of forest, farms, wineries, trails, and much more.
Median Sales Prices vs Listing Price (SP/LP) for Bainbridge Island
2016
2017
2018
2019
2020
1st Q, 2021
95.55%
96.18%
97.92%
96.63%
98.07%
95.05%
Median DOM (Days on Market) for Bainbridge Island
2016
2017
2018
2019
2020
1st Q, 2021
28.5
32.5
15.5
24
15
19
Annual Monthly Median Inventory for Bainbridge Island
2016
2017
2018
2019
2020
1st Q, 2021
27
19
17.5
27
11
5
Annual Median Sold Price and Price per Sqft for Bainbridge Island
2016
2017
2018
2019
2020
1st Q, 2021
Annual Median Sold Price
$1,220,000
$1,467,500
$1,400,000
$1,825,000
$1,855,000
$1,380,000
Median Price Per Sq Foot
$515
$573
$589
$552
$684
$769
Financing Trends For Bainbridge Island: Percentage of Waterfront Home Sales Made in Cash
2016
2017
2018
2019
2020
1st Q, 2021
56%
35%
41%
47%
67%
57%
The past five years have not brought about as much change in <a href="https://www.washingtonwaterfronts.com/bainbridge-island/">Bainbridge Island waterfront home sales</a> as in other parts of the state. Yes, there has been declining inventory, but for the most part, it appears that home prices have only increased nominally. Median DOM hasn't seen a dramatic drop, and cash sales in the first quarter of 2021 were roughly the same as they were in 2016. Still, price per square foot has increased by 49% since 2016, which indicates a very healthy and competitive market. We expect that trend to continue well into 2022 and beyond.
Washington State Waterfront Property Trends: Whidbey Island
North of Seattle, situated in Puget Sound but reaching almost to the Salish Sea, sits Whidbey Island, a lush island of pristine beaches, unforgettable restaurants serving some of the country’s best seafood, one-of-a-kind shops, enviable views, and year-round recreational opportunities. Home to the small and quaint cities of Coupeville, Langley, Oak Harbor, and Clinton, roughly one-third of the island's 69,000 residents live in rural parts of the island. <a href="https://www.washingtonwaterfronts.com/whidbey-island/">Waterfront homes in Whidbey Island</a> are highly sought after not just for the views they provide, but also because of the genial and comfortable pace of island living.
Median Sales Prices vs Listing Price (SP/LP) for Whidbey Island
2016
2017
2018
2019
2020
1st Q, 2021
96.03%
95.05%
98.35%
97.03%
98.04%
100.00%
Median DOM (Days on Market) for Whidbey Island
2016
2017
2018
2019
2020
1st Q, 2021
53
68
21
33
15
8
Annual Monthly Median Inventory for Whidbey Island
2016
2017
2018
2019
2020
1st Q, 2021
72
61
40.5
46
26
7
Annual Median Sold Price for Whidbey Island
2016
2017
2018
2019
2020
1st Q, 2021
$650,000
$674,000
$725,000
$725,000
$861,000
$880,000
Financing Trends For Whidbey Island: Percentage of Waterfront Home Sales Made in Cash
2016
2017
2018
2019
2020
1st Q, 2021
41%
47%
52%
48%
44%
49%
The challenges and opportunities that exist for sellers and buyers of Whidbey Island waterfront are in keeping with other parts of Washington. Inventory will slowly begin to rebound toward the end of 2021 and into 2022, but prices will likely continue to be high — competition, too.
Washington Waterfront Single Family Residences: Predictions for 2022
The Washington State waterfront real estate market in 2021 has been more competitive than anything our team has ever experienced. Available inventory was as low as 21% of the last leanest market since the digitization of real estate records (268 actively listed single family waterfront homes in 2021 compared to 1,250 actively listed single family waterfront homes in 2006). Record low mortgage interest rates fueled the already surging demand for waterfront property, and inventory remains very limited at only 35% (442 actively listed waterfront homes) of the 2006 low (1,250).
The Seller’s Market Will Continue
As a whole, our expectation for the 2022 Washington waterfront real estate market is that the record low inventory and readily available resources (cash and/or low interest rate mortgages) will maintain the competitiveness for waterfront properties. Taking into account the Fed’s statements that they will be increasing the Fed Funds Rate, we anticipate that the 10-year treasury will also increase slightly and, subsequently, so will 30-year mortgage rates. While this is likely to occur, because of the percentage of waterfront purchases that are made with cash, and the fact that real estate is an excellent inflation hedge, we don’t anticipate too significant of a reduction in demand for waterfront properties. We also anticipate that more people who currently own waterfront property, who have been thinking about selling but are waiting for prices to “peak,” will list their waterfront properties for sale in 2022, gradually increasing the supply. Broadly speaking, a slight increase in supply and a slight decrease in demand due to marginally higher cost of ownership will move the waterfront market moderately away from being one of the best seller’s markets in history and decrease the competition for waterfront listings very slightly. Having said this, pending any significant economic changes, it will still be a long time before the waterfront market becomes balanced on the spectrum of seller’s market vs buyer’s market.
Accordingly, our expectation is that waterfront real estate prices will continue to increase through 2022, though potentially not at the rapid rate of appreciation that we have experienced in 2021. The length of time waterfront listings will stay on the market will still be very short; however, this will be a function of the original listing price, location of the property, marketing expertise of the real estate broker listing the property, and the presence of certain amenities on the waterfront property, such as docks, moorage, and bulkheads, to name a few.
Effects of Vacation Home Regulation on Waterfront Property in 2022
One external influence that may impact certain markets is the advanced regulation of vacation rental homes. A homeowner’s ability to subsidize the ownership cost of their waterfront home through vacation rental income while they are not using it has been one of many factors fueling the demand for waterfront properties. Certain municipalities, specifically Chelan County, are actively talking about restricting the ability for homeowners to rent their second homes on a nightly basis. If these regulations are approved, demand for second homes in those markets will reduce; however, we expect the demand will be reallocated to other booming vacation rental markets, such as the Washington Coast, or three-season riverfront destinations like Packwood.
With our expectation that waterfront real estate prices will continue to go up and mortgage interest rates will also increase, if you are in the market to purchase a waterfront property, our recommendation is to speak with our preferred lender today and be as ready as possible to move quickly on the waterfront property that you believe you will enjoy for years to come.
If you currently own a waterfront property, we recommend selling when you have the least possible competition and the highest amount of demand. Depending on the characteristics of your property, if it has many of the most highly demanded elements, you may be able to realize more in the sale of your property right now (due to escalation clauses and competing offers), rather than waiting for the inherent market appreciation that we expect to occur over the next 18 months.
Discover more about your options. <a href="https://www.washingtonwaterfronts.com/about/">Reach out to one of our Washington Waterfront specialists today</a>.2021-10-26T09:18:00-07:002021-10-27T13:35:19-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:6148Waterfront Market Update - October 14, 2021The single family waterfront real estate market has begun its seasonal decline for 2021. As illustrated in the chart below, the number of actively listed single family homes peaked in July of this year and stepped down slightly in the two months following. The seasonal cycle for 2021 represents somewhat of a return to normalcy with respect to the seasonal increase and decrease of actively listed single family waterfront homes. In 2020, amidst the initial surge of the pandemic, inventory peaked in April with 791 actively listed single family waterfront homes and then swiftly declined to the lowest inventory in recorded history at 268 single family waterfront homes in February of this year. At the peak in July, there were 475 actively listed waterfront homes, which is still well below the last historical low in early 2006 of 1,250 actively listed waterfront homes.
Actively Listed Single Family Waterfront Homes
<img src="https://assets.site-static.com/userfiles/628/image/Stats.png" width="556" height="487" />
Although we saw significantly more waterfront homes listed in 2021 as compared to 2020, the demand has been stronger than ever. As long as a waterfront property is not astronomically overpriced, it will most likely sell at or above the listing price. The chart below illustrates the pent up demand for waterfront properties, especially in August and September where the blue and green bars are virtually identical. This means that the absorption rate of new waterfront listings is nearly 100%.
Number of New and Pending Waterfront Listings
<img src="https://assets.site-static.com/userfiles/628/image/Stats_Comparison.png" width="586" height="494" />
The charts below are dynamic, so we encourage you to scroll your mouse over them to see what the values are for the County in which you are seeking a waterfront property. As always, if there is anything we can do to help with your waterfront home search, or if you would like to learn about our industry leading waterfront marketing platfrom, please don't hesitate to reach out!
2021-10-14T09:20:00-07:002021-12-12T18:57:28-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:6134What's Hot in Waterfront Property for Thurston County, WA<img src="https://assets.site-static.com/userfiles/628/image/Thurston-County-Waterfront.jpg" width="1200" height="801" alt="Thurston County Waterfront Homes for Sale" title="Thurston County Waterfront Homes for Sale" />
Homes on the water in Thurston County, WA, have experienced a substantial increase in home sale prices over the last half-decade. So much so, that the median sold price for waterfront property in the county increased 34.26% from 2016 to 2020. If the median sold price from the first quarter of 2021 holds for the remainder of the year, sales prices will have increased more than 61.81% since 2016 and just over 29% in the space of only a year.
On top of that, waterfront housing inventory in Thurston County is in limited supply. It remains true, however, that some waterfront homes are more attractive to buyers — and more lucrative for sellers — than others. In this article, we explore the trends in the Thurston County waterfront property market to highlight what features and amenities are particularly desirable right now.
If you’re interested in purchasing or selling a home on the water in <a href="https://www.washingtonwaterfronts.com/olympia/">Olympia</a>, <a href="https://www.washingtonwaterfronts.com/lacey/">Lacey</a>, <a href="https://www.washingtonwaterfronts.com/tenino/">Tenino</a>, <a href="https://www.washingtonwaterfronts.com/tumwater/">Tumwater</a>, or any other city or area in Thurston County, we can help. <a href="https://www.washingtonwaterfronts.com/about/">Contact a waterfront specialist at Washington Waterfronts today.</a>
Continue reading to learn what’s hot in waterfront single family residences for Thurston County, Washington.
Waterfront Property for Sale in Thurston County — Here’s What You Should Know
If you’re interested in purchasing or selling a home on the water in Thurston County, you should be equipped with as much data as possible. In the following sections, we explore:
Historically low waterfront inventory levels in Thurston County
Rising sold prices in Thurston County
What types of homes spent the fewest days on market (DOM) in the last five years
Inventory for Homes on the Water in Thurston County is Historically Low
Demand for waterfront properties in Thurston County continues to outpace inventory levels. While limited inventory is a relatively new problem for the rest of the country, the number of waterfront homes for sale in Thurston has been in decline for a while.
In 2016, the annual median monthly number of waterfront homes on the market was 62. In 2020, that number was 22. During the first quarter of 2021, that number has gotten still lower, with a median monthly inventory of just 12 waterfront properties.
Even as the number of waterfront homes on the market in Thurston County has decreased over the past five years, the number of homes sold has increased, as have median sold prices and the overall sales volume. More on this below.
Thurston County Waterfront Home Sold Prices and Overall Transactional Volumes Continue to Rise
While there can be many reasons for the current inventory declines, one reason is that waterfront property owners in Thurston County are reluctant to let go of a good investment. The table below illustrates the rising median sales prices of homes on the water in Thurston County, along with the total transactional sales volume, which indicates the strength and competitiveness of the waterfront market there.
Year
Median Sold Price
Total Transactional Volume
2016
$438,750
$68,450,020
2017
$507,500
$72,023,314
2018
$550,000
$85,388,333
2019
$600,000
$97,680,675
2020
$600,000
$121,759,616
Q1 2021
$831,250
$15,638,192
Waterfront Homes in Thurston County Don’t Stay on The Market Long
Homes on the water in Thurston County, WA, don’t stay on the market long. According to our proprietary data, the median days on the market (DOM) for waterfront property in Thurston County from 2016 was 26. That number dramatically decreased in 2020 when the median DOM was 10.5. In the first quarter of 2021, DOM was just seven days.
Common Attributes of the Fastest-Selling Thurston County Waterfront Single Family Residences
Whether you’re interested in buying or selling a waterfront home, you should know what characteristics make a Thurston County waterfront property more likely to sell faster.
Per our Q1 2021 Washington Waterfronts proprietary data, we’ve learned that homes that stay on the market for 10 days or less have some or all of the qualities listed in the sections below.
Some of the Best Views in Washington
Waterfront homes in Thurston County for sale offer a variety of remarkable views. Take a look at some of the most common views of waterfront properties that sold the fastest in Q1 2021 in the table below, keeping in mind that many of the fastest selling waterfront homes have views that include multiple natural attributes (e.g. a mountain view and a view of Puget Sound, a lake view and a mountain view, etc.).
Most Popular Views
Percent of Properties Sold in 10 Days or Less in Q1 2021 with Attribute
Lake View
50%
Mountain View
25%
Puget Sound View
50%
Bay View
50%
Multiple Natural Attributers View
58%
Unique Land Features and Topographical Attributes
Waterfront homes in Thurston County with garden space, level ground, partial slope, fruit trees, and woods tend to sell the fastest in 2021. The table below gives the specifics.
Land Features and Topographical Attributes
Percent of Properties Sold in 10 Days or Less in Q1 2021 with Attribute
Garden Space
67%
Level Ground
67%
Partial Slope
67%
Fruit Trees
58%
Woods
42%
Outdoor Spaces and Amenities
When someone buys a home on the water in Thurston County, they are interested in more than the waterfront. Buyers often want a unique outdoor space from which to enjoy the view, as well as other features and amenities that make living easier. Here are some site features and amenities common to fast-selling Thurston County houses.
Site Features and Amenities
Percent of Properties Sold in 10 Days or Less in Q1 with Attribute
Deck
67%
Patio
67%
Deck and Patio
50%
Cable TV
67%
High Speed Internet
83%
Outbuildings
67%
Interestingly, 25% of the homes that sold in 10 days or less also had a second kitchen, while just 12.5% of those with a DOM of over 10 days had that amenity.
Contact Washington Waterfronts Today
Waterfront homes for sale in Thurston County, WA, are limited, and prices will likely stay high or continue to rise. Homes on the water in this part of Washington offer an excellent investment opportunity for buyers. Of course, for home sellers wanting to get a great price for their waterfront property, it’s an excellent time to sell.
Whether you’re interested in buying or selling waterfront property in Thurston County, we can help. <a href="https://www.washingtonwaterfronts.com/about/">Contact Washington Waterfronts</a> today to speak with a Thurston County waterfront property specialist.
2021-09-30T08:00:00-07:002021-09-30T08:37:25-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:6106What's Hot in Waterfront Property for King County, WA<img src="https://assets.site-static.com/userfiles/628/image/King-County-Waterfront-Real-Estate.jpg" width="1200" height="800" alt="King County Waterfront Real Estate" title="King County Waterfront Real Estate" />
What's Hot in Waterfront Property for King County, WA
Waterfront property for sale in King County rarely stays on the market for long. From 2016 through the first quarter of 2021, King County waterfront properties that sold were on the market an average of 24 days. However, certain types of waterfront homes sold in a fraction of that time. Even in a time of tight waterfront inventory, with median sale prices skyrocketing from $855,000 five years ago to more than $1.2 million today, there are some features and amenities that will make a waterfront property in a hot market even more desirable.
Whether you’re interested in buying or selling a waterfront home in King County, we can help. <a href="https://www.washingtonwaterfronts.com/about/">Contact the Washington Waterfronts Team</a> today to speak with an experienced waterfront real estate agent, and read on to learn what waterfront property trends — based on WashingtonWaterfronts.com’s proprietary data — are driving the fastest home sales in King County, Washington.
Waterfront Property Value Is on The Rise in Washington State
In line with most of the country, waterfront property value (specifically in King County) is much higher than historical averages. Listed below are the annual median waterfront property sales prices from 2016 to Q1 2021.
2016: $855,000
2017: $1,090,000
2018: $1,000,000
2019: $ 1,227,50
2020: $1,249,888
2021, Q1: $1,247,250
Most indications suggest that waterfront home value will continue to rise for the remainder of 2021. Keep reading to learn what makes a waterfront property sell fast — and at a price that is above the original listing price — in King County.
Washington Waterfront Home Sales Data
Days on Market for Waterfront Homes Sold in King County
Days on Market (DOM) refers to the number of days a home is actively listed before it sells. Generally, the longer a waterfront property stays on the market, the more negotiation room it leaves potential buyers.
In 2016, the median DOM for King County waterfront property for sale was 29 days. Compare that with the first quarter of 2021, when the median DOM for King County waterfront property was just 16 days. Just under half of all King County waterfront homes that sold in the first quarter of 2021 did so within just 10 days of being listed.
List Price to Sale Price Ratio for Waterfront Homes Sold in King County
Waterfront home sales and prices in King County have long been robust and reliable. Back in 2016, before the <a href="https://www.washingtonwaterfronts.com/blog/2020-waterfront-market-in-review/">current Washington state waterfront housing inventory crunch</a>, the average list price to sale price (SP/LP) ratio of waterfront homes sold was just over 96%, meaning that waterfront home sellers in King County, on average, agreed to only a 4% price concession from the price at which they listed their homes for sale.
In the first quarter of 2021 the SP/LP was just under 98% — not a dramatic difference from the 2016 average. However, the SP/LP of waterfront home sellers whose houses sold within 10 days or less of their listing was almost 106%, meaning that homeowners were being paid, on average, 6% more than their listing price.
But we can take the data further: By removing those quick-selling waterfront homes’ effect on average SP/LP, we find that waterfront homes in King County that took longer than 10 days to sell during the first quarter of 2021 saw an average SP/LP of just 90%.
The takeaway? The data reveal consistent demand and high sale prices for waterfront homes in King County, Washington overall. But it is critical to price your home appropriately at the market value recommended by your waterfront real estate broker. Overpricing a waterfront property can have significantly detrimental impacts on the eventual selling price of your property, which is often times less that the market value originally recommended by your broker.
Waterfront Property Trends to Know in King County, WA
Homes with a waterfront view in the greater Seattle area typically spend fewer days on the market than traditional single-family residences. Homes on the water are selling faster primarily due to the following factors:
There are limited waterfront homes for sale in King County
There is an increase in cash sales in Western Washington
Investors covet waterfront property in King County as solid long term investments
Are you curious about what makes a waterfront home attractive enough to buyers to entice them to move quickly, offer more than the listing price, and/or engage in a bidding war? Listed below are a handful of the key attributes shared by the fastest-selling (within 10 days of listing) waterfront properties in King County.
Average Square Footage and Price Per Square Foot
The fastest-selling properties on the water in the first quarter of 2021 had an average of 2,457 square feet. Waterfront homeowners hoping to quickly sell homes that are smaller or larger than that don’t need to worry, however. The smallest property that sold in 10 days or less was just 172 square feet, and the largest was more than 7,000 square feet. Additionally, the price per square foot for waterfront homes sold in 10 days or less was $743.50.
If you compare that data with homes that took longer than 10 days to sell in 2021, the following patterns emerge: Waterfront homes that took longer to sell were larger than their faster selling counterparts (2,900 square feet on average), and they cost more per square foot (just under $800), too.
For homeowners hoping to sell their King County homes in a shorter period of time, then, a more conservative price per square foot may make sense. However, those with patient capital could consider waiting to find a buyer at a higher listing price.
Waterfront, Desirable Views, and Topographical Attributes
The type of water a home fronts, the view its inhabitants enjoy, and its topography can all affect how quickly it sells. Listed below are a few of the more notable topographical, waterfront, and view-related attributes exhibited by Q1 2021’s fastest selling King County waterfront homes.
Waterfront, View, and Topography
Percent of Properties Sold in 10 Days or Less in 2021, Q1
Low Bank
43%
Lakeside
43%
Lake View
47%
Mountain View
37%
Garden Space
40%
Level and/or Partial Slope (vs sloped or steep slope)
73%
Wooded
33%
Site Features
The best waterfront properties in King County also include amenities and site features that improve the quality of life for all who live and visit there. The table below offers a snapshot of the types of site features common to those waterfront homes selling the fastest in King County in 2021.
Site Features & Amenities
Percent of Properties Sold in 10 Days or Less in 2021, Q1
Deck
83%
Cable TV
77%
High Speed Internet
67%
Patio
50%
Bath of the Primary Bedroom
50%
Parking for an RV
43%
<br />It’s worth noting that 90% of the waterfront houses that sold in 10 days or less in 2021 had either a deck and/or a patio. Outdoor space is valued as especially attractive to today’s motivated buyers. Waterfront homeowners looking to sell in coming years, who are also looking to improve their property, should consider whether or not a deck or patio addition might improve their home’s appeal.
Additionally, waterfront homes in King County that lack a bath off the master bedroom could add one to increase a home’s appeal and value.
Contact Us To Learn More About Waterfront Property in King County, Washington
Washington waterfront homes for sale are transacting faster than ever, especially in King County. If you’re in the market to buy or sell a home on the water, our waterfront real estate professionals can help. Start your search for the best waterfront properties in King County with our <a href="https://www.washingtonwaterfronts.com/idx/search-form/">interactive waterfront property finder</a>, or <a href="https://www.washingtonwaterfronts.com/contact/">contact us to list your waterfront property</a> today.2021-09-22T06:20:00-07:002021-09-22T07:13:31-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:6086What A Tight Waterfront Housing Market Means for Sellers<img src="https://assets.site-static.com/userfiles/628/image/San-Juan-Island-Waterfront.jpg" width="1200" height="801" alt="What A Tight Waterfront Housing Market Means for Sellers" title="What A Tight Waterfront Housing Market Means for Sellers" />
A Tight Waterfront Housing Market Gets Tighter: What it Means for Sellers
It’s a seller’s market for premium waterfront property in Washington State, but how long will the good times last for waterfront home sellers?
If we base our answer on historical precedent, we can expect the Washington waterfront housing market to continue on an upward trend. However, there are no guarantees. If you’re thinking about selling your home on the water, read this guide and you will learn the following:
Key insights from the Washington waterfront real estate market
Attributes that make a waterfront property more attractive to buyers
How long you can expect it to be a seller’s market
How to decide if it’s the right time to sell your home on the water
How to choose the best offer for your waterfront property
Tips to get your home on the water ready for sale
Our waterfront specialists at the Washington Waterfronts Team are dedicated to helping you achieve your real estate goals and secure the best contract for your waterfront home, while providing you with a fantastic transactional experience.
Use our <a href="https://www.washingtonwaterfronts.com/about/sold-waterfront-properties/">interactive waterfront property finder</a> to see the kinds of listings we represent, or <a href="https://www.washingtonwaterfronts.com/contact/">contact us today</a> to get connected with a waterfront real estate agent.
Continue reading to learn about the tight waterfront housing market and what it means for sellers.
Key Insights from the Washington Waterfront Real Estate Market
While the rest of the country is experiencing a tight real estate market, Washington waterfront property values have been on the rise for quite some time now. Below, we’ve provided a few key insights into current and historical figures for homes on the water in Washington.
Waterfront Property Prices in Washington State
Historically, waterfront property in Washington is a sound investment. Most properties on the water or with prominent waterfront views have experienced a significant increase in property value. Listed below are historical comparisons of waterfront property values in popular Washington cities.
2016 Median Sold Price
2019 Median Sold Price
Q1 2021 Median Sold Price
Seattle
$1,180,000
$1,495,000
$1,650,000
Bellevue
$3,506,000
$3,565,000
$7,600,000
Kirkland
$2,850,000
$2,650,000
$4,100,000
Sammamish
$1,890,000
$2,597,500
$4,342,500
Waterfront property value is on the rise, but that doesn’t mean that every waterfront property will sell quickly or for the asking price. Working with a proven waterfront real estate agent can help ensure that you get the maximum value under the best circumstances.
Median Days on Market (DOM) for Homes on the Water in WA
It isn’t uncommon for high-end waterfront homes to spend more time on the market than single-family residences not on a shoreline — even in a market where inventory is tight.
Waterfront homeowners understand the significant value of their waterfront properties and are generally comfortable waiting to sell until they receive an offer that matches or exceeds the listed price. With that in mind, the median days on the market for Washington waterfront properties have increased in some cases and decreased in others.
2016 Median DOM
2019 Median DOM
Q1 2021 Median DOM
Seattle
19
28
13.5
Bellevue
35
39
50.5
Kirkland
23
6.5
79.5
Sammamish
9.5
7
4
Monthly Median Inventory of Washington Waterfront Properties
Many experts predict that record low housing inventory will systematically increase through the end of 2021 and throughout 2022. For now, just about every area with waterfront views in Washington State is experiencing a considerable lack of inventory compared to previous years.
Take a look at a few examples of waterfront inventory levels below.
2016 Median Inventory
2019 Median Inventory
Q1 2021 Median Inventory
Seattle
26.5
42
23.5
Bellevue
11
7
4
Kirkland
8.5
3
2
Sammamish
3.5
8
2
Common Attributes of Waterfront Homes That Sell Fast
If you intend to sell your home on the water, you should know what’s hot in the market and what can potentially derail a quick sale. Based on our data, waterfront homes that motivate buyers to move the fastest have a few common attributes. They include, but are not limited to:
Homes with easy access and close proximity to the water
Properties with great waterfront views (i.e., city views, mountain views, waterbody views, etc.)
Waterfront homes with ample garden space
Homes on the water with a terrace
Waterfront properties with a deck/patio and a dock
Waterfront properties that offer privacy (i.e., gated community, fence, wooded view, etc.)
Should I Sell My Waterfront Property?
While this ultimately depends on your lifestyle and financial goals, we generally recommend selling a property with limited competition is more advantageous to sellers than waiting for competition to increase. Waterfront properties in Washington can be a great long-term investment. However, we're in the midst of a historically high-priced housing market. With that in mind, it is safe to assume that the value of your waterfront property value will not continue to rise at the astronomical rate at which it has over the last two years.
For many, now may be the best time to sell their property on the water because of:
Record-low interest rates
High demand and low inventory (expect the inventory levels to change soon)
Historically high waterfront property valuations
If you’re thinking about selling your home on the water with a waterfront view, we suggest <a href="https://www.washingtonwaterfronts.com/about/">connecting with one of our experienced waterfront specialists</a> to discuss your options.
How to Choose The Best Offer On Your Waterfront Property
In today’s waterfront market, you’re likely to receive several offers for your waterfront home quickly after listing. Whether or not you should accept those offers depends on a few factors. Understanding how a waterfront offer works, how much risk you can bear, and your personal goals can help you choose the offer that works best for you.
Consider the Contingencies
Contingencies offer an opportunity for a potential buyer to exit or renegotiate terms.
For that reason, it’s important to consider how contingencies could affect your net proceeds or the amount of time it takes to close. Common contingencies in waterfront property contracts include:
Inspection contingency
Financing contingency
Septic contingency
Well contingency
Home sale contingency (albeit very uncommon in today’s market)
As a seller, we recommend accepting an offer with as few contingencies as possible to increase the likelihood that your contract to sell will close swiftly and as close to the terms originally agreed upon in the mutually accepted offer.
Cash Offer Vs. Conventional Mortgage
In many cases, cash offers are preferred even at a lesser price than conventionally financed offers because they typically result in a faster sale and fewer complications. However, not every cash offer is the right offer.
We recommend discussing the pros and cons of each offer on your home with an experienced waterfront real estate professional. In some cases, it can pay dividends to wait for a better mortgage-based offer than accept a fast cash offer. Further, a buyer with a <a href="https://www.washingtonwaterfronts.com/buyers/mortgage-pre-approval/">pre-approved mortgage</a> will sometimes close faster than a buyer making a cash offer.
Proof of Funds Letter
Requiring a proof of funds letter is a valuable approach to both cash buyers and buyers purchasing with a mortgage. For buyers with financing, a proof of funds letter helps ensure that buyers with conventional mortgage-based offers have enough money for the downpayment and closing costs. For cash buyers, a proof of funds letter illustrates to the seller that the buyer factually has enough liquid non-contingent funds to close the sale at the offered purchase price. Moving forward in a waterfront property sale without proof of funds can be risky.
As real estate agents specializing in homes on the water in Washington, we recommend leaving your home on the market until you receive the proof of funds document from potential buyers.
Choosing the Best Offer Over The Highest Offer
The highest offer on a waterfront home isn’t always the best offer. Before you accept an offer from the highest bidder, you should evaluate the pros and cons of accepting their offer over others.
For example, the highest bidder may require strict contingencies or request additional time in the closing process. In contrast, someone who bids slightly lower may offer a faster closing time, a higher down payment, etc.
A Few Tips to Get Your Home on The Water Ready For Sale
Attracting the best offer for your waterfront property can take some work. Before listing your home on the water for sale, our waterfront real estate specialists recommend:
Making all needed repairs
Knowing your waterfront property rights and how they will transfer
Having your waterfront home inspected before listing
Removing any obstructions to your waterfront view
Paying a professional housekeeping company to clean your home
Taking professional pictures
Professionally staging the entire property and especially the waterfront living areas
At the Washington Waterfronts Team, we work closely with waterfront property homeowners to sell their waterfront property at the best possible terms. <a href="https://www.washingtonwaterfronts.com/about/">Contact us</a> today to begin the process of listing your Washington waterfront property.2021-09-16T07:37:00-07:002021-09-16T08:15:53-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:6068Financing Trends for Waterfront Homes on Puget Sound<img src="https://assets.site-static.com/userfiles/628/image/Buying-a-waterfront-home.jpg" width="1200" height="799" alt="Buying a waterfront home in Washington State" />
Financing Trends for Waterfront Single Family Homes on Puget Sound
Slightly more than 57% of Puget Sound waterfront homes for sale were sold to cash buyers in Q1, 2021. In larger cities like Seattle and Bellevue, the number is even higher — 64% for Seattle and 100% for Bellevue, although both Seattle and Bellevue cash purchases have historically been higher than other parts of Puget Sound. For context, 36 percent of national <a href="https://www.cnbc.com/2020/12/11/buying-a-house-heres-where-all-cash-deals-are-most-competitive.html">real estate sales are all-cash</a>.
Add to the high percentage of cash sales, <a href="https://www.washingtonwaterfronts.com/blog/2020-waterfront-market-in-review/">a historically low supply of waterfront property</a> on Puget Sound and around Washington state, and many would-be waterfront property owners are finding themselves priced out of the market or unable to compete with cash buyers.
In this article, we uncover historical and recent financing trends for waterfront single-family homes on Puget Sound. If you’re interested in purchasing or selling a waterfront home in Washington State, <a href="https://www.washingtonwaterfronts.com/contact/">reach out to Washington Waterfronts today</a>.
Puget Sound Waterfront Homes For Sale — Financing Trends
We’ve analyzed tens of thousands of real estate transactions on Puget Sound in the last five years (2016 – 2021). Here’s what we learned:
The percentage of all-cash waterfront property sales on Puget Sound stayed roughly the same from 2016 – 2020. However, the first quarter of 2021 showed an increase of 17% in overall cash sales.
The average median sale price (based on sale prices from 2016 – 2020) of waterfront properties on Puget Sound increased by 43%.
The median number of days on the market decreased from 32 days to 12 days from 2016 to 2020.
The annual median of the total number of homes for sale throughout the Puget Sound area declined significantly from an average annual monthly median of 15 waterfront properties for sale to six.
Most waterfront property sales on Puget Sound are financed with conventional home mortgages or they are purchased with cash (especially <a href="https://www.washingtonwaterfronts.com/seattle/">Seattle waterfront properties</a> and <a href="https://www.washingtonwaterfronts.com/bellevue/">Bellevue waterfront properties</a>). However, a small percentage are financed with FHA, VA, and other types of loans.
Though limited, our 2021 waterfront property sales data suggests that prices for homes on the water on Puget Sound continue to be on the rise (much like the rest of the market), and availability is sparse.
Financing Homes on The Water in Washington State — Key Takeaways
The percentage of all-cash waterfront property sales has slightly increased in the last five years. However, the number of waterfront homes for sale is down considerably.
At the same time, the average sale price of a waterfront home in Puget Sound is up from $818,800 in 2016 to $1,212,00 in the first quarter of 2021.
There are more all-cash buyers, fewer waterfront properties for sale, increased demand, and higher prices. That’s a significant squeeze for homebuyers with conventional mortgages interested in waterfront homes for sale. In other words, the current waterfront property market in Washington favors sellers, which means the <a href="https://www.washingtonwaterfronts.com/blog/what-a-tight-waterfront-housing-market-means-for-buyers/">waterfront property market is much more challenging for buyers</a>.
Continue reading to learn more about how all-cash real estate transactions can affect your ability to close waterfront properties for sale in Washington state.
Cash Vs. Financing Waterfront Properties in Washington State — What Do Sellers Prefer?
There are fewer <a href="https://www.washingtonwaterfronts.com/puget-sound/">Puget Sound waterfront homes for sale</a> and higher demand — a classic seller’s market. With that in mind, waterfront property sellers are more inclined to accept an all-cash offer vs. a conventional mortgage-based offer because:
An all-cash offer on a waterfront property is almost guaranteed to close faster than a traditionally financed option.
All-cash offers for homes on the water can be less complicated than conventionally financed offers.
Individuals with Puget Sound waterfront homes for sale prefer not to worry about financing issues that can hold up a sale.
Almost always, waterfront property owners can bypass the appraisal process and subsequent issues by accepting an all-cash offer.
Overall, home sellers want security, expediency, and the highest price when putting their waterfront property on the market. Since there is nothing more secure than immediate cash, homeowners are more likely to accept an all-cash offer.
However, that doesn’t mean that you can’t get the waterfront property of your dreams with a conventional mortgage. It just means that you’ll have to be a bit more assertive and creative. Continue reading to learn how to compete with cash buyers for homes on the water.
Strategies to Combat Cash Offers on Puget Sound Waterfront Homes For Sale
Here are a few strategies to compete against cash offers on waterfront properties in Washington State:
Increase your down payment and/or increase the “earnest money” deposit.
Obtain a pre-underwriting approval letter from a <a href="https://www.washingtonwaterfronts.com/buyers/mortgage-pre-approval/">local mortgage lender</a>.
Conduct a pre-inspection with a licensed home inspector before the offer review date so you can waive the home inspection contingency with your formal offer.
Offer a substantially higher purchase price than what you assume a cash offer might be to incentivize the Seller to assume a longer closing period and more potential volatility with your financed offer.
Proactively review everything about the property before making an offer so you can waive all contingencies within reason.
When you make an offer, include an appraisal gap guarantee. How does an appraisal gap guarantee work? If the buyer’s lender’s appraised value of the property is less than the contractual purchase price, an appraisal gap guarantee is a commitment from the buyer that they will pay a specific amount in additional down payment to close the sale. In other words, the buyer will use cash to make up the gap between the appraised value and the contractual purchase price, up to a certain amount. This is an important demonstration made by the buyer that they don’t care if the property appraises less than the contract price, within reason, and that they have liquid non-contingent funds to pay for the difference without requiring further negotiation between the parties. An appraisal gap guarantee generally includes language that sets out a path forward if the difference between the appraised value and the purchase price exceeds the cash commitment made by the buyer.
Work with an experienced <a href="https://www.washingtonwaterfronts.com/about/">waterfront real estate agent</a> in Washington State.
Whether you’re interested in purchasing or selling a waterfront home in Washington State, we can help. <a href="https://www.washingtonwaterfronts.com/">Contact Washington Waterfronts</a> today.
2021-09-09T06:55:00-07:002021-09-09T07:11:56-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:6044What A Tight Waterfront Housing Market Means for Buyers<img src="https://assets.site-static.com/userfiles/628/image/MLS_30.jpg" width="1800" height="1200" alt="What a Tight Waterfront Housing Market Means for Buyers" />
A Tight Waterfront Housing Market Gets Tighter: What it Means for Buyers
Nationwide, the real estate market is in an unprecedented territory — that’s especially true for waterfront properties for sale in Washington State.
The recent real estate boom is mostly favorable for waterfront property sellers making it more difficult for buyers to find and close on their dream home on the water.
In this guide, we discuss:
Historical Washington state waterfront home sale trends
The current market for homes on the water in Washington
Why buyers are feeling the pinch
Best options for buyers in the current market
How to win a bidding war for a home on the water
If you’re in the market to buy a waterfront property in the state of Washington, we can help. Our team of waterfront specialists has more than a decade of experience helping clients buy their ideal home on the water.
<a href="https://www.washingtonwaterfronts.com/">Search our interactive waterfront property finder</a> or <a href="https://www.washingtonwaterfronts.com/contact/">contact us</a> to speak with a Washington Waterfront real estate specialist today.
Waterfront Property Buyers Are Feeling The Pain — Here’s Why
Homes on the water in Washington are not the only type of real estate experiencing a boom. It’s happening all over the nation, regardless of location or property type. Waterfront real estate experts say that it is more challenging than ever to close on a waterfront property because:
Prices for newly constructed and existing homes on the water are on the rise
Record low inventory levels
The effects of COVID-19
There are more cash buyers than ever before
Continue reading to learn what a tighter waterfront real estate market means for buyers in Washington.
Waterfront Real Estate is in High Demand
Right now, prices for single-family residences on the water are at an all-time high. When inventory is low and demand is high — as it is right now with waterfront homes in Washington state — it increases any type of asset’s value. For perspective, look at examples of historical price trends below for waterfront residences in popular areas of Washington.
2016 Median<br />Sold Price
2018 Median<br />Sold Price
Q1 2021 Median<br />Sold Price
King County
$855,000
$1,000,000
$1,247,250
Pierce County
$580,000
$675,000
$950,000
Island County
$595,000
$675,000
$919,000
Jefferson County
$440,000
$574,235
$829,500
Snohomish County
$417,050
$550,000
$680,000
In some cases, Washington waterfront real estate prices have surged by more than 60% within five years.
Historically Low Inventory Levels
Record <a href="https://www.fool.com/the-ascent/mortgages/articles/housing-inventory-hits-a-record-low-what-it-means-for-buyers/">low inventory levels</a> are impacting both waterfront and traditional single-family residence buyers. Low waterfront property inventory in Washington creates an environment with fewer choices and more competition for available properties.
Compare historical and present median monthly waterfront inventory levels in the table below.
2016 Median<br />Inventory
2018 Median<br />Inventory
Q1 2021 Median<br />Inventory
King County
185.5
155
54
Pierce County
167
117
26
Island County
109
63
10
Jefferson County
63
32.5
11
Snohomish County
99
72.5
12
In addition to the examples provided above, inventory levels for homes on the water in Washington have experienced a significant decline in just about every county.
The Effects of The Pandemic
Many factors have helped create and accelerate the current waterfront property buying environment. However, COVID-19 has played a particularly prominent role in the recent surge in demand for single-family residences on the water in Washington.
More people are working from home. As a result, families want more space — which often requires purchasing a new, larger property. In addition, interest rates are at an all-time low. So, homebuyers are scrambling to lock in a mortgage rate with favorable terms before things change.
These two factors have accelerated the homebuying timeline of many seeking a home on the water.
More Cash Buyers on The Market
In 2016, about 37% of all waterfront home sales in Washington were made by cash buyers. The numbers from Q1 2021 illustrate that about 45% of waterfront property sales are cash offers. However, in certain areas, well over 50% of waterfront property purchases are cash offers.
While the increase in cash sales might not seem like much at first glance, it can have a major effect when there is already low inventory and high demand. (Learn more about how cash buyers are affecting the Washington waterfront landscape.)
Should I Wait to Buy a Waterfront Property?
It depends. At Washington Waterfronts, our waterfront specialists encourage our clients to move fast but wait patiently. That means that you should be prepared to move on a property with your best offer at any moment. Still, you should also wait for a waterfront property for sale that you are comfortable with aesthetically and financially.
Further, <a href="https://www.cnbc.com/2021/06/17/why-experts-say-you-might-want-to-wait-to-buy-a-new-house.html">mortgage rates are at historically low levels</a>. If you plan on buying a waterfront home in Washington with a conventional mortgage, many experts suggest that there may never be a better time.
Lastly, and potentially most importantly, property values for homes on the water in Washington State have increased year-over-year for the last five years. If this historical precedent continues to hold true, the longer you wait to purchase a home on the water, the more you will likely have to pay.
Tips For Winning Bidding Wars For Homes on The Water
Low inventory plus high demand equals bidding wars. With so much competition for luxury waterfront property in cities like Seattle, Bellevue, Kirkland, Hansville, etc., you can expect a healthy amount of competition.
Listed below are a few tips to help you win a bidding war for your dream waterfront property.
Move Fast
Five years ago, the median days on the market (DOM) for Washington waterfront properties for sale was 43 days. In the first quarter of 2021, Washington waterfront properties stayed on the market for just 10 days. In the hottest markets, homes can sell even faster.
In other words, you have to act quickly with your best offer for a home on the water — especially if you are making an offer with a conventional mortgage.
Offer More Money
Obviously, the easiest way to win a bidding war is to offer more money. However, it does come with some complications. If you plan on offering more money for your dream waterfront property, our Washington Waterfront real estate specialists recommend:
Keep your offer within reason
Double-check your finances to be sure you can afford a larger mortgage
Have enough cash to make up for the gap in appraisal value and approved mortgage amount (if any)
Offering more money for a waterfront property can be an excellent strategy unless you are up against a similar cash offer. Learn more below.
Make a Cash Offer
If you’re in the midst of a bidding war, nothing speaks louder than cash. Generally, homeowners are more likely to accept reasonable cash offers over higher priced conventionally financed offers.
However, if you don’t have enough liquidity to make an all-cash offer, you can still offer to increase your down payment. Depending on the situation, it can help sweeten the deal a bit to entice the seller to accept your offer.
A few ways you can make your waterfront property offer more attractive include, but is not limited to:
Propose a sooner closing date (i.e., instead of 30 days, you propose 10 or 15)
Remove home inspection contingencies
Remove the home appraisal contingencies
Offer a higher down payment than the next highest bidder
There’s perhaps only one thing that can compete with a reasonable cash offer, that’s a buyer who builds a personal relationship with the seller. Continue reading to learn more.
Get a Mortgage Pre-Approval
A <a href="https://www.washingtonwaterfronts.com/buyers/mortgage-pre-approval/">mortgage pre-approval</a> doesn’t always result in mortgage approval. However, it does offer many potential advantages. Waterfront property buyers who have a mortgage pre-approval can confidently search for their dream home on the water.
Additionally, a mortgage pre-approval also decreases closing time while enhancing your credibility as a viable waterfront homebuyer.
Build a Relationship With the Seller
Many home sellers don’t want to sell their homes to just anybody. They want to know that they are selling it to people who will take care of the home and benefit the neighborhood.
Taking steps to build a relationship with the seller can help to differentiate you from others who make similar offers on the home.
Some ways that can help you build a better relationship with waterfront property owners include:
Writing a personable offer letter
Offering to rent the property back to the sellers while they search for a new home
Having your waterfront real estate agent schedule a one-on-one meeting with the seller
Washington Waterfronts — Your Dream Home on the Water
The waterfront property real estate market in Washington State is competitive, investor-friendly, and unique. With that in mind, it pays dividends to work with an experienced real estate agent for homes on the water.
Our real estate specialists at Washington Waterfronts are creative solution finders who work tirelessly to help you achieve your goal of owning a Washington waterfront home. <a href="https://www.washingtonwaterfronts.com/about/">Contact us today</a> to begin your journey to waterfront property ownership.
2021-09-02T09:55:00-07:002021-09-02T11:08:12-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:6042Should You Pay Above the Appraised Value of a House<img src="https://assets.site-static.com/userfiles/628/image/MLS-51.jpg" width="5153" height="3433" />
In today’s highly competitive housing market with scarce supply, buyers around the country are finding that the only way to win a bid on a house is to go all out, often paying well above the home’s appraised value.
On the surface, this might seem like a risky move. You’re essentially starting with negative equity, which slows your ability to build equity in the house that can be used to refinance your mortgage or get a home equity line of credit (HELOC) down the road—not to mention selling the house without taking a hit to your wallet. But, there can be some instances where paying above the appraised value makes sense.
To help you decide whether paying above an appraised value is really worth it, we’ll dig into what appraisals are based on; when you should back away if a house is selling above its value; and when it’s OK to pay more than what it’s deemed “worth.”
How Appraisers Determine Market Value
What the seller, buyer and appraiser consider the “value” of a house can be vastly different. The seller is likely to focus on all of the benefits of the house to drive a higher sales price. The buyer is more likely to pick out the problems to negotiate a lower price. And the appraiser is meant to be the neutral party to determine the actual market value of the home.
The appraiser’s job is critical as it protects both buyers and lenders from paying more than the market value, and they must comply with regulatory standards. To determine the market value, appraisers typically follow the Uniform Standards of Professional Appraisal Practice (USPAP) guidelines. These guidelines include evaluating the house itself, such as checking out the general condition and evaluating any upgrades, the neighborhood and comparable sales.
Appraisers usually refer to sales within the past few months, but with home prices rising so quickly this past year, they’re looking at more recent sales to get a real-time picture of the market.
“Traditionally, we looked at homes that sold three to four months ago. That always worked well. But now, we have to look at what’s going on today, what’s under contract (and) what sold last week,” says Mary Davis, a licensed appraiser at C. Howard Davis Appraisals in Memphis, Tennessee.
The appraiser can change the appraised value of the property if the market changes. The type of changes that affect the real estate market could be anything from mortgage rates spiking to a natural disaster.
To change an appraisal based on outside influences, appraisers have to create a detailed analysis of why there’s been a material change and what caused it.
Because the appraisal is so integral to securing financing, real estate agents, sellers and buyers can get frustrated if the appraisal comes in low, especially if an equivalent home in the surrounding area has sold for what your home is listed at.
However, just because one buyer paid over the appraised value for a home in your area doesn’t prove that the market value has gone up. This sale could be an outlier, which is why appraisers have to look at several comps to establish value, says Karen Mann, an appraiser at Mann and Associates in Discovery Bay, California.
Another issue appraisers run into is renovated houses that have “over improvements,” which means that the home’s upgrades are excessive for the neighborhood. This is also known as functional obsolescence.
Usually, upgrades that fall into this category don’t count toward the value of the home. A good example is a home with a pool; if it’s the only pool home in a 5-mile radius, then that feature probably won’t be included in the appraised value.
Signs That You Shouldn’t Spend More Than Appraised Value
In a competitive housing market, it can be easy to get caught up in bidding wars and even the fear that you’ll somehow miss out on owning a house. And if you keep putting in offers that are rejected, it might feel like you have to push even harder to snag a home.
Pressure to get a house in today’s market has led people to surrender necessary contingencies designed to protect them and pay more than the appraised value. These can be risky tactics to make an offer stand out. It’s critical that you consider your budget and goals carefully, so you can avoid making a very expensive long-term mistake.
There are several factors you should consider before you pay over the value of the home.
Actual affordability. The first, and perhaps most obvious one, is can you afford it? If the appraisal comes in low, then you’ll have to make up the difference out of pocket. If that leaves you with an empty savings account and no safety net, this is not the healthiest for you financially.
Consider when you plan to sell the home. The other affordability issue comes in if you have to pony up the cash to sell your home sooner than expected. The closing costs to sell a home can run into the thousands of dollars. So if you pay more than the value, this could make it expensive to sell if you’re not in the home long enough to gain sufficient equity. If you sell the house in less than five years, you’re taking a significant risk since the value might not catch up with what you paid.
Is it true love? Finally, be honest with yourself about how much you like this home. If this is not your dream home and you’re buying out of fear or desperation, you could quickly find yourself with a case of buyer’s remorse. And selling a house that costs more than it’s worth takes time and money.
“Even if you do make up the amount in equity, the selling costs will quickly erode any gains, and you may be left with a loss,” says Nikki Gonzales, partner at Adeline Homes LLC, in Waco, Texas.
When to Pay More Than the Appraised Value
Housing inventory is at record-low levels and many homeowners are not as willing to sell, so buyers are left with slim pickings. What is available is often very expensive, and coveted by many other eager buyers.
So what happens when your dream home comes up for sale, and the price is above the appraised value? Some experts say it’s OK to pay above the market price if the following boxes are ticked:
First, make sure you can afford the monthly payments.
Make sure the gap you have to pay between the mortgage amount and the cost of the home does not leave you empty-handed in case of an emergency.
Next, make sure you can afford to sell if you have to. If you sell before the equity builds, you’ll have to put money on the table to offload it.
And finally, determine how long you plan on staying in the house. The more you pay over the appraisal, the longer you should plan to stay for the equity to catch up.
“The advice that I like to share with my clients is that you are paying the prices for that house that you would have normally paid about 18 to 24 months from now,” says Yawar Charlie,<br />director of estates division for the Aaron Kirman Group at Compass Real Estate. “Therefore, the calculation is you have to stay in that house approximately two years longer than you normally would have to turn around and regain the equity that you paid at the original purchase price.”
This article originally appeared in <a href="https://www.forbes.com/advisor/mortgages/should-you-pay-above-the-appraised-value/">Forbes Advisor</a>.2021-09-02T08:37:00-07:002021-09-02T14:54:19-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:5987FEMA Flood Insurance Changes 2021Starting October 1, 2021, FEMA, The Federal Emergency Management Agency of the US Department of Homeland Security, is making its first substantial change to flood insurance policies since its inception in 1978.
Right now, homeowners are required to purchase flood insurance in FEMA-designated flood zones; the only considerations include the property's elevation and whether it has a 1% annual chance of flooding. Starting October 1, considerations will include the cost of replacing the home, proximity to source of flooding, the type of flood risk (river, rain, etc), and FEMA will also include modeling of potential future climate change impacts, including sea level rise and wildfire risk.
Currently, a $1,000,000 home in Florida pays the same rate as a $200,000 home in Montana. Current findings are that homes of lesser value are paying more than their risk warrants for flood insurance, and higher value homes are paying less. FEMA premiums are currently raised at 10% each year, and this change will impact that percentage increase each year for a home as well.
Flood zones are evaluated every 5 years. Many zones not currently qualified as high risk are outside of the established flood zone. One notable example is Hurricane Harvey in Houston, where 200,000 homes were damaged or lost, and 75% of them did not have flood insurance, as many were not in FEMA flood zones. Congress will be re-evaluating how and when flood zones are determined later this fall 2021.
Ultimately, the current program doesn’t offer enough coverage to those who need it. This significant change will pivot the onus onto those who will more likely incur the risk.
According to the UNs new climate report, climate change and its environmental impacts are accelerating faster than ever. Homeowners may see future policy changes influenced by the increased risk of other natural disasters including storms, earthquakes, and fires.
This change will affect the values of many homes in the US. The cost of the insurance and how it affects a home’s perceived value, and also the up-keep of older homes.
You may be asking, what does this mean for me? If you are a waterfront home buyer, you should input the property you are considering purchasing into <a href="https://floodfactor.com/" style="font-size: 16px;">Flood Factor</a>. This is a service provided by First Street that evaluates the risk of flooding and climate change risk for all homes and provides their interpretation of the risk those properties have for potentially being impacted by these natural and unpredictable forces.
Insurance costs are almost certain to keep escalating as climate change continues to spark 'big damage' events...combined with rising construction costs. 'Climate-proofing' will become even more important in home construction, adding more costs, that may potentially be offset by lower insurance premiums. Insurance risk assessors consider numerous construction methods that offset risk...such as a new fire/wind resistant roof, security systems that monitor for flooding, leaks, etc, using building materials resistant to wind, hail, etc, and of course, elevating homes.
If you are currently a waterfront property owner and know that your property has a greater risk of being impacted by the upcoming FEMA changes, you may want to considering in the very near future before any negative impacts of future insurance costs affect the market value of your property. 2021-08-18T12:44:00-07:002021-08-18T12:54:34-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:5938Waterfront Market Update - August 4, 2021Greater Puget Sound <a href="https://www.washingtonwaterfronts.com/buyers/personalized-home-search/">waterfront real estate</a> market continues to be a hot commodity as we move into August and summer is in full swing! We keep an eye on several data points that we feel are pertinent to understanding the waterfront market and how to value waterfront properties appropriately. The first metric we have been tracking closely is the number of actively listed waterfront properties in the entire NWMLS area. This geographic area spans effectively from the Columbia River all the way to the Pacific Ocean and from the Canadian border down to what is effectively the Longview intersection with the Columbia River again. Within all of the data sets that we have included below, we are looking at strictly single family waterfront homes and we have excluded creekfront properties and properties that do not have shoreline, but are marketed as having tideland rights and/or beach rights. This leaves what we believe is true waterfront properties for comparison.
Actively Listed Single Family Waterfront Homes
<img src="https://assets.site-static.com/userfiles/628/image/Waterfront_Active_Listing_080421.png" alt="Actively Listed Single Family Waterfront as of August 4, 2021" title="Actively Listed Single Family Waterfront as of August 4, 2021" width="892" height="741" />
This chart illustrates that we are starting to see the seasonal increase in actively listed waterfront properties, however the number of actively listed waterfront homes is still well below the seasonal peak in 2019.
New Listings vs Pending Listings - August 4, 2021
<img src="https://assets.site-static.com/userfiles/628/image/New_and_Pending_Waterfront_Listings_080421.png" alt="New vs Pending Waterfront Listings - August 4, 2021" title="New vs Pending Waterfront Listings - August 4, 2021" width="886" height="737" />
The next data set that we monitor is the number of newly listed waterfront homes as compared to the number of listings that went pending during the same time period. As you can see in the chart above, the demand for single family waterfront is still very strong and buyers are consuming about three quaters of the waterfront properties that are listed.
The limited supply and pent up demand for waterfront properties can also be illustrated in the following dynamic chart that shows the number of months of supply in various counties across the Puget Sound and Hood Canal. (NOTE: We are unable to exclude creekfront properties from this dataset.)
Average Price of Waterfront in the Greater Puget Sound
Finally, the last, but far from least important, data set that we monitor is the average price for a single family waterfront home in the greater Puget Sound organized by County. Here are two charts that illustrate the varying values throughout our beautiful region. (NOTE: We are unable to exclude creekfront properties from this dataset.)
We hope you enjoyed this waterfront market update and, as always, please don't hesitate to contact us if there is anything we can do to help with your waterfront home search. Or, learn more about our proven system to selling your waterfront property for a premium value through our proprietary waterfront marketing platform!
Until next time, have a great Waterfront Wednesday!2021-08-04T14:31:00-07:002021-10-04T09:23:41-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:48892020 Waterfront Market in ReviewThe waterfront real estate market in the greater Puget Sound experienced an extraordinary year in 2020. The first quarter gave us a hint of the competitive landscape that was forthcoming, but the demand for waterfront properties as a result of COVID-19 created an atmosphere in which almost every waterfront listing, priced relatively appropriately, received many competing offers with limited contingencies.
The year concluded with the median waterfront inventory down -41.4% across the seven counties analyzed in this report, culminating in the fourth quarter with median waterfront inventory down -57%. Considering waterfront inventory was already lean in 2019, nearly halving the available listings produced a significant increase in the market value of waterfront properties.
Another clear indicator of the immense demand for waterfront properties is the fact that, despite inventory being nearly cut in half, the number of sold waterfront properties increased approximately 8% across the seven counties included in this report. Pierce County and Kitsap County captured the top two spots on the charts with more than a 19% increase in sold waterfront properties.
Although the median sold price of <a href="https://www.washingtonwaterfronts.com/buyers/personalized-home-search/">waterfront properties</a> is a function of the waterfront listings offered for sale and not a precise indication of the degree of value appreciation for the waterfront market as a whole, it is still fascinating to note that the median sold price of waterfront properties increased nearly 17%. Similar to the number of sold waterfront properties, the peripheral Puget Sound counties experienced the greatest increase in median sold price with Snohomish and Whatcom County over 20%. Island County experienced the greatest increase of median sold price at nearly 27%!
2021 is already off to an incredibly fast start. The proprietary web metrics we collect from WashingtonWaterfronts.com illustrates that demand is equivalent to what we would normally be experiencing in May – the heart of the high selling season. We expect inventory to increase somewhat as the year progresses, but not much. And, with mortgage interest rates still hovering around all time lows, demand should remain extremely high. If you are considering selling a waterfront property, 2021 will be an ideal time to maximize your selling price and experience a smooth transaction with limited contingencies.
<img src="https://assets.site-static.com/userfiles/628/image/Annual_Waterfront_Volume.png" alt="2020 Year End Annual Waterfront Sales Volume" title="2020 Year End Annual Waterfront Sales Volume" width="4374" height="2230" />
2020 Waterfront Report Statistics
<img src="https://assets.site-static.com/userfiles/628/image/Waterfront-Counties-2020-Annual-Market-Report-5.jpg" alt="2020 Waterfront Market Update - Year in Review" title="2020 Waterfront Market Update - Year in Review" width="1200" height="1553" />
<img src="https://assets.site-static.com/userfiles/628/image/Waterfront-Counties-2020-Annual-Market-Report-6.jpg" alt="2020 Waterfront Market Update - Year in Review" title="2020 Waterfront Market Update - Year in Review" width="1200" height="1553" />
<img src="https://assets.site-static.com/userfiles/628/image/Waterfront-Counties-2020-Annual-Market-Report-7.jpg" alt="2020 Waterfront Market Update - Year in Review" title="2020 Waterfront Market Update - Year in Review" width="1200" height="1553" />
<img src="https://assets.site-static.com/userfiles/628/image/Waterfront-Counties-2020-Annual-Market-Report-8.jpg" alt="2020 Waterfront Market Update - Year in Review" title="2020 Waterfront Market Update - Year in Review" width="1200" height="1553" />
<img src="https://assets.site-static.com/userfiles/628/image/Waterfront-Counties-2020-Annual-Market-Report-9.jpg" alt="2020 Waterfront Market Update - Year in Review" title="2020 Waterfront Market Update - Year in Review" width="1200" height="1553" />
Thinking of Selling Your Waterfront Property?
In our professional opinion, there has never been a better time to sell your waterfront property. Available inventory is at an all time low and mortgage interest rates continue to drive significant demand for waterfront homes. Our proprietary industry-leading marketing platform enables us to sell waterfront properties faster, with fewer contingencies, and for record breaking prices. We’d love to share our fully custom marketing strategy focused on the story and value of your waterfront property and how we reach highly targeted qualified and discerning real buyers.2021-02-12T15:53:00-07:002021-08-10T12:03:38-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:4397Wrangell Alaska Rustic Lodge For Sale<img src="https://assets.site-static.com/userfiles/628/image/Southeast_Alaska_Real_Estate_for_Sale2.png" width="1020" height="765" alt="Southeast Alaska Real Estate for Sale" title="Southeast Alaska Real Estate for Sale" />
About The Property in Wrangell, Alaska
This Southeast Alaska property is located approximately 750 air miles north of Seattle Washington, which is about the same distance San Francisco is south of Seattle. It is about 2.5 hours flying time by daily Alaska Airlines 737-400 jets to the authentic Alaskan island community of Wrangell Alaska. The property is located at 1104 Peninsula Street Wrangell, Alaska 99929 which is 100 miles north of Ketchikan and 150 miles south of Juneau Alaska.
Learn more about this <a href="http://southeastalaskarealestateforsale.com/">Wrangell Alaska Rustic Lodge For Sale</a>
<img src="https://assets.site-static.com/userfiles/628/image/southeast-alaska-real-estate-1.jpg" width="820" height="767" alt="Southeast Alaska Real Estate for Sale" title="Southeast Alaska Real Estate for Sale" />
Check it out on <a href="https://earth.google.com/web/search/1104+Peninsula+Street,+Wrangell,+AK/@56.46220871,-132.38027115,0.22352163a,594.81655967d,35y,-80.56978458h,45.00026957t,0r/data=Co4BGmQSXgolMHg1NDA4Y2E0YWQyNGFlYTI1OjB4Zjc1YzgxYTMxZjgyMWJkMRlltEQdDDtMQCGco46OK4xgwCojMTEwNCBQZW5pbnN1bGEgU3RyZWV0LCBXcmFuZ2VsbCwgQUsYAiABIiYKJAnx88U9VdQ6QBHDdY4QVtQ6wBkqExwdMG5BQCF8VH1P_7JSwA">google earth</a> and look for the big red roof in the lower center of the picture at the address above.
The property is a rustic-style Alaskan Red Cedar pole lodge with landscaping, paved parking lot, 16-bedroom size sleeping rooms all with private baths on the main floor. Also, there are two 700 square foot sleeping rooms with private baths on the partial second floor. Our commons area is 2400 square feet with a wood stove and a Wrangell Harbor vista. The building is heated with a hot water base board system fueled by two sources; oil fired boiler or an electric boiler. The property has been freshly painted inside and outside.
The property is located five blocks from downtown Wrangell and consists of 25,373 square feet of land and approximately 15,000 square feet, combination of wood framed around a factory built modular building unit, under roof with a wrap-around covered deck. The property is within the city limits of Wrangell and is on city electricity, water and sewer.
The commercial style kitchen has the following equipment; a propane 72 inch American Range with double ovens. The cooking surface has a 24-inch char broiler, 24 inch griddle and a 24 inch four burner cook top, commercial grade fan-hood, 84 inch three door Atosa refrigerator, Hobart dishwasher, InSinkerator food disposal, Manitowoc Ice machine, Hobart commercial toaster and mix master, Cecilware large capacity coffee maker with an additional small two burner Bunn coffee maker, microwave and a large food pantry. Also, there is a commercial washer and dryer.
This property is being sold as “LAND & BUILDING ONLY,” no furnishing except those listed above. The photos being used on the <a title="Photos of our property for sale" href="http://southeastalaskarealestateforsale.com/photos.html" class="inline-link">PHOTOS</a> page were taken during the years of business operation from 1984 to 2016.
This property was built by the Harding family in 1984 and was used as a tourism lodge business until December 2016 when the owners retired. In addition, the property has also been used as an assistant living facility from January 2017 to December 2019.
Currently the property is being used as a residence.
The listing price is $750,000.
For more information, please call Bruce & Darlene Harding at 907-305-0108 or email <a title="Email akwoodbutcherwrg@hotmail.com" href="mailto:akwoodbutcherwrg@hotmail.com" class="email">akwoodbutcherwrg@hotmail.com</a>.
<img src="https://assets.site-static.com/userfiles/628/image/Southeast_Alaska_Real_Estate_for_Sale.png" width="1021" height="765" alt="Southeast Alaska Real Estate for Sale" title="Southeast Alaska Real Estate for Sale" />2020-11-03T06:48:00-07:002023-02-27T20:38:25-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:3483First Quarter 2020 Waterfront Report
At the end of every quarter, we conduct an analysis of waterfront single-family property sales. We are proud to contribute this analysis to Coldwell Banker Bain's quarterly market report and we hope you find this information valuable in your search for the perfect waterfront property!
<a href="https://www.washingtonwaterfronts.com/#graphics">Click here to jump to the graphical illustrations of our market analysis.</a>
<img src="https://assets.site-static.com/userfiles/628/image/Q1-2020-Waterfront-Report.jpg" alt="2020 First Quarter Waterfront Market Report" title="2020 First Quarter Waterfront Market Report" width="405" height="160" />
Summary of 2020 First Quarter Waterfront Market Statistics
In the first quarter of 2020, the seven counties included in this analysis experienced a -26% decrease in active waterfront inventory, a 12.5% increase in sold waterfront properties, and a 10% increase in the median price of sold waterfront homes.
The biggest story of the first quarter is the significant decrease in active waterfront listings. Apart from Whatcom County, every other county experienced a double-digit decline in actively listed waterfront homes.
Snohomish County and Skagit County realized the greatest decline in actively listed waterfront homes with -48.6% and -59.5% decreases, respectively. King and Kitsap saw -29% and -26%, respectively, and Pierce and Island Counties had inventories decline -15%.
With this drastic decline in inventory, one might expect the number of sold waterfront properties to decrease (at least slightly), however that wasn’t the case in Q1 2020. Across the seven counties analyzed, the number of sold properties increased 12.5%. King and Kitsap Counties saw a 33% increase in sold waterfront properties and, topping the charts, Snohomish County waterfront sales increased 62.5% over the number of sales in the first quarter of 2019.
While it must be anticipated that COVID-19 will have at least some impact on waterfront real estate transactions, the typical influx of waterfront listings coming on the market in early Q2 has not occurred yet. It can be assumed that waterfront homeowners are postponing listing their property to mitigate the spread of the virus. Considering the significantly lower inventory levels we experienced going into the pandemic, it leads us to believe that the timing is ideal to list a waterfront home and capitalize on the virtually non-existent waterfront competition.
If you are considering buying a waterfront property, our expectation is that we will see a postponed increase in waterfront inventory. Rather than the surge of new listings occurring in April and May, we expect it will occur in May, June, and July, depending on when the general public feels more comfortable having prospective buyers tour their properties. If there is a property on the market that matches the majority of your desired criteria, we encourage you to take action and secure the property for your future ownership. Mortgage interest rates continue to be near historic lows and there is no guarantee that we will in fact see the seasonal influx of waterfront listings later this year.
If you decide to wait to see if the seasonal influx of inventory comes later in the year, we strongly encourage you to take all steps necessary to be as prepared as possible for tremendous competition, once listings start hitting the market. If you have a home to sell, let's talk now about the preparations you should make to have your home ready to list as soon as you identify a waterfront property to buy. If you will be seeking financing for your purchase, speak with our preferred lender, make application for a loan, and provide all necessary documentation so you are fully pre-approved -- and even better, pre-underwritten -- so your offer will be among the most attractive in competing offer situations.
We hope this analysis is helpful and please don't hesitate to <a href="https://www.washingtonwaterfronts.com/contact/">reach out to us</a> to discuss the specifics of your home search. We are more than happy to help!
Graphical Illustrations of Market Statistics
<img src="https://assets.site-static.com/userfiles/628/image/Q1-2020-Waterfront-Market-Report-5.jpg" alt="2020 First Quarter Waterfront Market Report" title="2020 First Quarter Waterfront Market Report" width="1200" height="1553" /><img src="https://assets.site-static.com/userfiles/628/image/Q1-2020-Waterfront-Market-Report-6.jpg" alt="2020 First Quarter Waterfront Market Report" title="2020 First Quarter Waterfront Market Report" width="1200" height="1553" />
<img src="https://assets.site-static.com/userfiles/628/image/Q1-2020-Waterfront-Market-Report-7.jpg" alt="2020 First Quarter Waterfront Market Report" title="2020 First Quarter Waterfront Market Report" width="1200" height="1553" />
<img src="https://assets.site-static.com/userfiles/628/image/Q1-2020-Waterfront-Market-Report-8.jpg" alt="2020 First Quarter Waterfront Market Report" title="2020 First Quarter Waterfront Market Report" width="1200" height="1553" />
<img src="https://assets.site-static.com/userfiles/628/image/Q1-2020-Waterfront-Market-Report-9.jpg" alt="2020 First Quarter Waterfront Market Report" title="2020 First Quarter Waterfront Market Report" width="1200" height="1553" />2020-04-22T08:55:00-07:002021-03-17T10:57:51-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:3106How We Are Working Through the COVID-19 PandemicWe're Still Doing Real Estate, But Here's What We're Changing for Buyers and Sellers
We’ve made significant changes to how we conduct business because of the coronavirus — changes that are all about making our clients’ health and safety the team’s #1 priority.
Things are changing every day, most recently on March 27 when Governor Inslee declared real estate an “essential” business activity under the “Stay Home, Stay Healthy” quarantine. But there are significant limitations on how we can conduct our business, and the Washington Waterfronts Team promises to abide by those guidelines in the name of safety and health.
The bottom line is this: Homes are being bought and sold every day in the greater Puget Sound. Real estate continues and our team is still working, but in different ways. And that means we’re still here and available to help you whether you’re thinking about buying or selling this year. Here’s what you need to know about how we’re doing business.
Your health & safety is our #1 priority.
We’re doing as much of our business virtually/remotely as is possible, and conducting business in a way that aligns with the CDC and state recommendations and guidelines. Here’s what that means to our current and future clients:
Our team is all working from home, but we’re still available by phone, text, and email every day of the week.
If you need a consultation about buying or selling a home, we can only do that via phone. If you prefer a face-to-face conversation, we’ll use FaceTime or another video conferencing service.
Per state rules, we can only meet with clients to view a home or sign documents. And even then, only two people can meet and they must use social distancing.
For both sellers and buyers, we’ll be signing all documents electronically.
We’re working with our industry partners (lenders, title/escrow partners, etc.) to make those parts of every transaction virtual/remote as much as possible. For example, buyers can use wire transfer to pay their earnest money rather than writing a check and delivering it.
Governor Inslee has signed a proclamation allowing remote notarizations for at least the next 30 days. That’s great news and will help us close transactions without having to conduct face-to-face signings.
For our current and future sellers:
When it’s time to sell your home, we can probably get enough information to list your home without even having to visit! We’ll ask you to give us a brief tour of the home via your phone, tablet, or laptop — that should show us what we need to see and get us the answers and info we need.
Our professional stager is not considered “essential.” In lieu of her services, we’ll offer advice for you to get the home ready prior to photography.
Our professional photographer is also not considered “essential.” In lieu of his services, we’ll share some guidance for you to shoot a couple dozen photos yourself. You’ll be surprised what we can do with a smartphone and Photoshop these days!
Open Houses are not allowed under state guidelines. Instead, we’ll put greater emphasis on representing your home to buyers via video and photos.
If you’re comfortable showing your home to interested buyers, we’ll put extra precautionary measures in place to protect you, your family, and your home when they visit, including…
We’ll only allow pre-approved buyers to see the home in person. No “lookie-loos.”
We’ll ask potential buyers about any symptoms they may be currently or previously experiencing.
Potential buyers stating or showing any potential symptoms will be asked to postpone their viewing.
Per the governor’s guidance, all showings must be done by appointment. Only two people at a time are allowed to view a home, one of whom must be a licensed agent, and they must exercise social distancing.
You and your family will need to vacate the home during all showings. You can go for a walk or sit in your car(s), but you can’t be inside the home.
If you’re not comfortable showing your home to interested buyers, we’ll make sure that’s clearly stated in advance to all local Realtors and their clients.
For our current and future buyers:
We won’t take you on any showings without being pre-approved for a mortgage.
Be aware that many homeowners do not want strangers visiting their homes right now. In those cases, we’ll work to get a detailed video tour of any home(s) you want to see.
We may be able to arrange private showings if the seller is allowing them — but you should expect to be asked about your health and possibly about any recent travel.
Per the governor’s guidance, a home showing is limited to a total of two people — that means one of our agents and one person from your family. Plan on leaving spouses, children and other family members at home. We’re required to practice social distancing while viewing the home.
If we’re looking at homes with you, we’ll drive in separate cars to each home and maintain the recommended social distancing for everyone’s safety.
We recommend that our buyers wear protective gloves during any home showings for your and the homeowners’ health and safety, and plan on seeing the home without touching anything.
The above plans and precautions are subject to change as conditions change. We are here to serve as your guide whether you’re buying or selling. Our goal is to help you make fact-based decisions about your real estate needs.2020-03-31T11:08:00-07:002020-03-31T11:19:15-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:2575Fourth Quarter 2019 Waterfront Market ReportThe latest comprehensive market report was recently published by Coldwell Banker Bain and we were thrilled to contribute to the waterfront analysis of 7 counties throughout the greater Puget Sound.
Mike Grady
To kick off the comprehensive market report, Mike Grady, Coldwell Banker Bain President and COO, reflected on the 2019 statistics and the interesting turn of the market in the fourth quarter.
"As we closed out the year, 2019 turned out to be quite different than we had expected. We expected<br />that because the double-digit appreciation of home prices had modified in May 2018, more sellers would proceed with selling their existing homes in 2019. This, of course, would have resulted in more inventory, stabilizing prices even more while increasing units sold. Had this transpired, 2019 would have resulted in increased volume as a result of more units and slightly higher average sales prices than in 2018.
However, that didn’t happen. Instead, the ‘aberration’ we saw in November continued… so perhaps it’s not an aberration after all and we may be returning to the ‘old normal.’ December of 2019 proved to be better than December of 2018 in just about every single category – this notwithstanding weather that was not as mild as last year, and weather typically has an impact on sales. Yet we see again that the number of pending transactions outpaced the number of listings taken along with an increased appreciation. With inventory in King County below one month, we can only surmise that 2020 will show a return to rising home prices as a result of the lack of inventory and continued robust job market. So, while buyers continue to benefit from low interest rates, there are simply not enough homes for sale and the market, once again, is leaning more strongly toward sellers. These predictors indicate that the first quarter of 2020 will be active."
Chris Murphy
At the end of every quarter, we conduct a high-level analysis of waterfront single-family property sales. We are proud to contribute this analysis to Coldwell Banker Bain's quarterly market report and we hope you find this information valuable in your search for the perfect waterfront property!
In the fourth quarter of 2019, the seven counties included in this analysis experienced a -20% decrease in active waterfront inventory, a -12.5% decrease in sold waterfront properties, and a 2.58% increase in the median price of sold waterfront properties.
Taking a comprehensive look at 2019 compared to 2018, the seven counties included in this analysis experienced a -5.56% decrease in active waterfront inventory, a -11.2% decrease in sold waterfront properties, and a 0.89% increase in the median price of sold waterfront properties.
King County realized the greatest change in the median price of sold waterfront property with a 25.5% increase in 2019 sold property value compared to 2018, despite King County having the greatest increase in actively listed waterfront properties (16.5% increase).
Excluding King County, the average number of waterfront listings was down more than -11% across the other 6 counties in this report for 2019 and down more than -22% in the fourth quarter. However, the reduction in inventory didn’t directly translate to increases in the number of sold units or the price of sold properties, both of which were, on average, flat in the fourth quarter and 2019 compared to 2018 (+/- 2%).
The trends analyzed here illustrate that waterfront properties must be priced and marketed with each property’s unique characteristics and the market in which the property is located at the forefront of the value analysis. In some waterfront markets, inventory has been decreased significantly and waterfront buyers are accepting higher purchase prices and/or concessions on their list of must-haves. We continue to find the greatest success in meticulously heeding the characteristics of recently sold waterfront properties and pricing our waterfront listings at a market value that aligns with what most well qualified buyers are willing to invest.
Also included with the market report are some helpful charts and illustrations depicting the changes in the waterfront market. Here are the fourth quarter waterfront market report charts that we found to be valuable illustrations of market movements:
<img src="https://assets.site-static.com/userfiles/628/image/2019-Waterfront-Market-Report-1.jpg" width="1200" height="1655" alt="2019 Waterfront Market Report Page 1" />
<img src="https://assets.site-static.com/userfiles/628/image/2019-Waterfront-Market-Report-2.jpg" width="1200" height="1702" alt="2019 Waterfront Market Report Page 2" />
<img src="https://assets.site-static.com/userfiles/628/image/2019-Waterfront-Market-Report-3.jpg" width="1200" height="1667" alt="2019 Waterfront Market Report Page 3" />
<img src="https://assets.site-static.com/userfiles/628/image/2019-Waterfront-Market-Report-4.jpg" width="1200" height="1700" alt="2019 Waterfront Market Report Page 4" />
<img src="https://assets.site-static.com/userfiles/628/image/2019-Waterfront-Market-Report-5.jpg" width="1200" height="1673" alt="2019 Waterfront Market Report Page 5" />
To view the complete 2019 Fourth Quarter Waterfront Market Report, please click <a href="https://issuu.com/globalluxury/docs/2019_waterfront_counties_market-report_final_v.3">here</a>.
Disclaimer:
*Information and statistics derived by CB Bain from the Northwest Multiple Listing Service (NWMLS), Regional Multiple Listing Service (RMLS) and the Multiple Listing Service of Central Oregon (MLSCO) each quarter. Statistics not compiled or published by the NWMLS, RMLS or MLSCO.2020-01-20T11:47:00-07:002020-01-20T12:39:03-07:00Chris Murphytag:washingtonwaterfronts.com,2012-09-20:1629Cardinal Direction View PerspectivesWashington State is located between approximately the 46th parallel and the 49th parallel. During the summer months, the sun will generally move directly overhead from sunup to sundown. During the winter months, on the other hand, the sun will typically only pass approximately 45 degrees above the horizon to the South, with it's highest point at mid-day. In the following paragraphs, we'll discuss the pros and cons of the four different cardinal direction view perspectives and what buyers and sellers should consider when looking at properties with varying view perspectives.
When we use the term view perspective, we are referring to the primary direction that a property's shoreline view is facing. For example, if the front entrance of the home is facing East, it's probable that the home's view perspective is out of the back of the home facing West. We would refer to this property as West facing.
If you'd like to jump to a particular view perspective, please click on the links below:
<a href="https://www.washingtonwaterfronts.com/#north">North</a>
<a href="https://www.washingtonwaterfronts.com/#south">South</a><a href="https://www.washingtonwaterfronts.com/#south"></a>
<a href="https://www.washingtonwaterfronts.com/#east">East</a>
<a href="https://www.washingtonwaterfronts.com/#west">West</a>
Now, let's dive into the four cardinal direction view perspectives!
<a id="north"></a>North Facing View Perspective
Although it is highly dependent on the topography and vegetation surrounding a property, in general, North facing properties have the lowest demand among the four cardinal view perspectives. There are certainly anomalies to this description, however in cases where North facing waterfront properties have large bluffs or tall trees behind the home, during the winter months when the sun doesn't rise more than 45 degrees above the horizon to the South, the shoreline on North facing properties can often be fully shaded.
Below is a video highlighting the Whidbey Shores community on Whidbey Island, in which the point of the community faces North and East, while the long stretch of properties predominantly faces North. As you will see in the video, there are sections of the North facing shoreline near the point without trees or bluffs behind the homes, which are fully in the sun, while other sections with trees/bluffs behind the homes that are almost completely in the shade.
<img src="https://fast.wistia.com/embed/medias/i41p6li39m/swatch" style="filter: blur(5px); height: 100%; object-fit: contain; width: 100%;" alt="" onload="this.parentNode.style.opacity=1;" />
<a id="south"></a>South Facing View Perspective
South facing properties are the most highly sought after and typically sell at a noticeable premium above other cardinal direction view perspectives. This premium reflects the fact that South facing properties will almost always have sunlight pouring into the windows on the home that face South, regardless of what season we are in. This is also true of the shoreline. Considering the water in Washington State isn't exactly the warmest in the world, having a sun drenched shoreline makes hanging out on the beachfront much more enjoyable.
The video below features the Warren community in Gig Harbor. Facing almost directly South, you'll notice that the shoreline and the South facing facade of the homes are soaked in sunlight. Generally, you will have this experience in almost every South facing waterfront property in Washington State.
<img src="https://fast.wistia.com/embed/medias/bcl32ycp1m/swatch" style="filter: blur(5px); height: 100%; object-fit: contain; width: 100%;" alt="" onload="this.parentNode.style.opacity=1;" />
<a id="east"></a>East Facing View Perspective
Are you a morning person? Do you love waking up, brewing a pot of coffee or tea, and enjoying watching the sun come up over the mountains to the east as the sun wakes up with you and sends it's energizing rays through the windows of your home? If so, you may find that East facing properties are the best fit for you!
In the video below, we highlight the Point Evans community of Gig Harbor which faces East toward the Cascade Mountains. Homes in Point Evans and other East facing neighborhoods will experience cooler sunlight pouring into the shoreline facing facade of the home, through approximately mid-day. Depending on whether the East facing homes have bluffs or large trees behind them, a home may continue to have sunlight shed on it from the West or it may be in the shade. Typically, any time past mid-afternoon, East facing shorelines are generally in the shade.
<img src="https://fast.wistia.com/embed/medias/uh674xvose/swatch" style="filter: blur(5px); height: 100%; object-fit: contain; width: 100%;" alt="" onload="this.parentNode.style.opacity=1;" />
<a id="west"></a>West Facing View Perspective
If you'd like to bask in the warmest possible sun on the day while enjoying the shoreline of your waterfront home, a West facing property is likely to be ideal for you. Similar to East and North facing properties, if you have a large bluff or tall trees on the opposite side of your home as the shoreline, its probable that your morning will start with your home predominantly shaded. As the day goes on, any time past mid-morning, your property will start to receive sunlight as the big star rises to it's highest point of the day. Now moving past mid-day, the sun will really start pouring down it's rays on the west facing shoreline of your property and, as the day goes on, those rays will really start to warm up. If you're fortunate enough to have a stunning mountain view to the west of your home, you'll be consistently amazed at the sunsets casting a myriad of oranges, reds, purples, and pinks through the sky.
In the video below, we feature the Lofall community of Poulsbo. This community faces due West looking directly across the Hood Canal at the jagged Olympic Mountains. As the clouds and other atmospheric precipitation move across the mountain range, you'll be delighted by the variety of colors as the sun sets over the horizon. Don't forget, relaxing on the shoreline of West facing properties will be the warmest among the four cardinal directional view perspectives.
<img src="https://fast.wistia.com/embed/medias/vca5b75n9y/swatch" style="filter: blur(5px); height: 100%; object-fit: contain; width: 100%;" alt="" onload="this.parentNode.style.opacity=1;" />
2019-03-15T14:20:00-07:002019-03-15T15:49:48-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:1640Top Boating Communities of the Puget SoundWhether it’s island-hopping in the San Juans or touring the countless coves, passages and lakes of the south Puget Sound—western Washington offers a myriad of options when it comes to exploration on the water. The inlets, islands and straights that make up the Puget Sound offer a dynamic experience for boaters, kayakers, and sailors who are lucky enough to call the region home. Here is our list of the Puget Sound’s most-desired boating communities.
Lake Washington
<a href="http://bit.ly/2HBQL6O" title="Learn More About Lake Washington, WA Waterfront">Lake Washington</a>: The state’s second largest (and most well-known) lake hosts a number of waterfront communities that offer docks, boathouses and moorage for vessels from mega- yachts to speed boats.
<img src="https://fast.wistia.com/embed/medias/5kkekkuj9v/swatch" style="filter: blur(5px); height: 100%; object-fit: contain; width: 100%;" alt="" onload="this.parentNode.style.opacity=1;" />
Hunt's Point, Yarrow Point, and Medina
<a href="https://www.washingtonwaterfronts.com/bellevue/hunts-point-homes-for-sale/?utm_source=blog&utm_medium=blog&utm_campaign=boating" title="Learn More About Hunts Point, WA Waterfront">Hunt’s Point</a>, <a href="https://www.washingtonwaterfronts.com/bellevue/hunts-point-homes-for-sale/?utm_source=blog&utm_medium=blog&utm_campaign=boating" title="Learn More About Yarrow Point, WA Waterfront">Yarrow Point</a> and <a href="http://bit.ly/2HBRaWS" title="Learn More About Medina, WA Waterfront">Medina</a> host some of the most luxurious and sought-after waterfront real estate in Washington. Straddling State Route 520, these neighborhoods sit at the middle of Lake Washington on the eastern side and have easy access to Union Bay and Lake Union to the west. With a variety of bays, coves, and channels--these neighborhoods offer plenty of homes with docks or opportunity for moorage.
<img src="https://fast.wistia.com/embed/medias/4dh86vg9r8/swatch" style="filter: blur(5px); height: 100%; object-fit: contain; width: 100%;" alt="" onload="this.parentNode.style.opacity=1;" />
Mercer Island
<a href="http://bit.ly/2HAIz6D" title="Learn More About Mercer Island, WA Waterfront">Mercer Island</a> occupies the southern half of the Lake and is accessed via the I-90 freeway. Docks speckle its shoreline and offer waterfront home-buyers choices for any view orientation.
<img src="https://fast.wistia.com/embed/medias/d3hn58gx3c/swatch" style="filter: blur(5px); height: 100%; object-fit: contain; width: 100%;" alt="" onload="this.parentNode.style.opacity=1;" />
Gig Harbor
<a href="http://bit.ly/2HC7wyn" title="Learn More About Gig Harbor, WA Waterfront">Gig Harbor</a>: On a clear day, one cannot help but be engulfed with massive views of Mount Rainier as you make your way through the Harbor. Situated on the Kitsap Peninsula to the southwest of Seattle, this New England-style waterfront hamlet is a perfect sanctuary for boaters and kayakers alike. On the south end of town, <a href="http://bit.ly/2HwZx5U" title="Learn More About Wollechet Bay, WA Waterfront">Wollochet Bay</a>, <a href="http://bit.ly/2HmlwNx" title="Learn More About Horsehead Bay, WA Waterfront">Horsehead Bay</a>, and <a href="http://bit.ly/2HoyKcL" title="Learn More About Fox Island, WA Waterfront">Fox Island</a> offer more options for waterfront with docks or moorage.
<img src="https://fast.wistia.com/embed/medias/vnr90v53n6/swatch" style="filter: blur(5px); height: 100%; object-fit: contain; width: 100%;" alt="" onload="this.parentNode.style.opacity=1;" />
Hood Canal
<a href="http://bit.ly/2HmoEcr" title="Learn More About Hood Canal, WA Waterfront">Hood Canal</a>: At the feet of the Olympic Mountains, the Hood Canal’s blue waters give boaters an experience like no other in Western Washington. The unique, “fjord-like” body of water cuts through the Olympic Peninsula, is 70 miles long and averages 1.5 miles in width. Known for its abundance of fish, crab, and shellfish—the region is one of the most popular destinations for boaters and sportsman.
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Alderbrook
<a href="http://bit.ly/2Hpn3lT" title="Learn More About Alderbrook, WA Waterfront">Alderbrook</a>, is the iconic resort of the Hood Canal with fine dining, a spa, and one of the PNW’s top-rated golf courses. Situated on the south side of the “Big Bend” near <a href="http://bit.ly/2Ho18LQ" title="Learn More About Union, WA Waterfront">Union</a>, this waterfront retreat is accessible by boat and seaplane and has 1500 lineal feet of guest moorage.
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Pleasant Harbor
<a href="http://pleasantharbormarina.com/">Pleasant Harbor</a> is the premier boating facility for the north Hood Canal. Located just south of <a href="http://bit.ly/2Hmpsht" title="Learn More About Brinnon, WA Waterfront">Brinnon</a> on Hwy 101, the cove is protected on three sides making it the ideal location to keep a boat moored through the rougher winter months.
Bainbridge Island
<a href="http://bit.ly/2Ho1JgU" title="Learn More About Bainbridge Island, WA Waterfront">Bainbridge Island</a>: Directly to the west of downtown Seattle, Bainbridge Island’s <a href="http://bit.ly/2HmpzJV" title="Learn More About Eagle Harbor, WA Waterfront">Eagle Harbor</a> is where Seattleites have historically gone to escape the hustle and bustle of the city. Two marinas on either side of the Harbor, private docks, and mooring ability make it a quick and easy place to skip across the Sound.
Whidbey island
<a href="http://bit.ly/2Hmz1wD" title="Learn More About Whidbey Island, WA Waterfront">Whidbey Island</a>: The long, narrow island that sits to the north of Seattle has some of the most dynamic areas for boating in all the Puget Sound. While the area offers some incredibly scenic and rugged terrains, accessing the water can be tricky with the assorted bluffs and rocky outcroppings.
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Lagoon Point
<a href="http://bit.ly/2HkLLUN" title="Learn More About Lagoon Point, WA Waterfront">Lagoon Point</a>, sits on the western side of the island opposite <a href="http://bit.ly/2HmNNn7" title="Learn More About Greenbank, WA Waterfront">Greenbank</a>. The location is ideal for boaters wanting a midway point between Seattle and the San Juan Islands.
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Port Ludlow
<a href="http://bit.ly/2HmPwsI" title="Learn More About Port Ludlow, WA Waterfront">Port Ludlow</a>: A sleepy little hamlet located on the northeast corner of the Olympic Peninsula at the mouth of the Hood Canal, <a href="https://portludlowresort.com/marina/">Port Ludlow’s Marina and Resort</a> is a well-known boating community for large and small vessels alike. A perfect place to spend the day or to setup your home port.
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Port Townsend
<a href="http://bit.ly/2Hlwz9L" title="Learn More About Port Townsend, WA Waterfront">Port Townsend</a>: As one of the Olympic Peninsula’s most diverse boating communities, Port Townsend represents all the elements of picturesque PNW boating. Multiple bays, coves, and straights surround this fun, artsy community by the water. A perfect central location to access the south Puget Sound, San Juan Islands, or Strait of Juan de Fuca make Port Townsend a top destination for any boater.
La Conner
<a href="http://bit.ly/2HmOa0Z" title="Learn More About La Conner, WA Waterfront">La Conner</a>: <a href="http://bit.ly/2HnqARO" title="Learn More About Shelter Bay, WA Waterfront">Shelter Bay’s</a> access via the Swinomish Channel makes it a perfect place to hideaway in any season. La Conner’s historic waterfront district gives visitors a glimpse into the past with its restored shops and restaurants.
Anacortes
<a href="https://www.washingtonwaterfronts.com/anacortes/anacortes-condos-homes-for-sale/" title="Learn More About Anacortes, WA Waterfront">Anacortes</a>: <a href="https://fbyc.webs.com/">Flounder Bay</a> sits on the western edge of Fidalgo Island at the mouth of Burrows Pass. A perfect jumping point to the San Juan Islands, Strait of Georgia, or Strait of Juan de Fuca makes this one of the region’s most desired boating communities.
San Juan Islands
<a href="http://bit.ly/2HlkJwp" title="Learn More About San Juan Islands, WA Waterfront">San Juan Islands</a>: As one of the Puget Sound’s most recognize destinations for boaters and tourists alike, it’s easy to see why so many people flock to this archipelago every year.
Friday Harbor
<a href="http://bit.ly/2HohZP0" title="Learn More About Friday Harbor, WA Waterfront">Friday Harbor</a> sits on the eastern edge of <a href="http://bit.ly/2HnSJrZ" title="Learn More About San Juan Island, WA Waterfront">San Juan Island</a> as one of the main stops for tourists exploring the area. With a port and several marinas, this quaint little village by the sea attracts thousands of visitors and makes for a perfect destination for the day or extended stays.
Roche Harbor
<a href="http://bit.ly/2HogPmi" title="Learn More About Roche Harbor, WA Waterfront">Roche Harbor</a> is San Juan Islands gateway to Victoria and greater Vancouver Island. On the northwest corner of the island, Roche Harbor boasts a <a href="https://www.rocheharbor.com/">waterfront resort</a>, <a href="https://www.rocheharbor.com/marina">marina</a>, <a href="https://goo.gl/maps/dJDpV7TBnB72">boat ramp</a> and U.S. Customs station.
Deer Harbor
<a href="http://bit.ly/2HmrBK3" title="Learn More About Deer Harbor, WA Waterfront">Deer Harbor</a> is the go-to boating community for <a href="http://bit.ly/2HmlWUi" title="Learn More About Orca's Island, WA Waterfront">Orcas Island</a> with two marinas on the eastern and western side of the harbor. With a resort and a multitude of BnB’s, you’ll find plenty of places to relax and enjoy this little waterfront paradise.
<br /><br /><img src="https://assets.site-static.com/userfiles/628/image/washington-boating-communites.jpg" alt="Washington Waterfronts Boating Communities" title="Washington Waterfronts Boating Communities" width="1200" height="674" />2019-03-15T10:48:00-07:002021-09-13T04:33:12-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:1455Deception Pass State ParkDeception Pass is another one of the most beautiful parks in all of Washington, set at the edge of the dazzling waters of the Strait of Juan de Fuca at the north end of Whidbey Island. The state's most visited 4,134-acre marine park spans a breathtaking saltwater canyon with ocean waterfalls swirling through during tidal changes and rugged cliffs plunging down to meet stunning emerald green waters.
Many cross the landmark bridge that connects Whidbey Island to Fidalgo Island, stopping to view the amazing hue of the water as well as the swift current phenomenon. Thrill-seeking kayakers come to this area during large tide changes to surf standing waves and brave the class 2 and 3 rapids.
There is much more to the park than peering over that edge, however. This park is similar to San Juan Island without having to endure the expense and the wait for the ferry. It offers 7,000 feet of saltwater shoreline and 33,900 feet of freshwater shoreline on three lakes. Discover 400 to 600-year-old trees, picturesque beaches, tide pools and of course, glorious sunsets and panoramic views of the water.
What You Need to Know
The park is open year round for day use and camping. Day use hours are 6:30 a.m. to dusk in the summer and 8 a.m. to dusk during the winter time. You will need a Discovery Pass to access the park which is $10 per day or $30 for a year-long pass.
Keep in mind that as the most popular park in the state with more than 2 million visitors each year. There is also the potential for quite a bit of loud rumbling from the Naval Air Station on Whidbey Island, so you may not get the peace and tranquility you were expecting. The park is still well-worth visiting - some find the jets fascinating, and if that's you, you'll love it here even more.
Camping and other accommodation options
If you want to spend the night, the park offers a beautiful campground with over 300 sites spread out at three different locations in the park. There are 18 tent sites and two utility sites at Bowman Bay; 7 tent sites and 54 utility sites at Quarry Pond as well as 147 tent sites and 83 utility sites at Cranberry Lake.
<img src="https://assets.site-static.com/userfiles/628/image/camping-people_826.jpg" width="660" height="826" />
Campgrounds include a total of two dump stations, 20 restrooms and ten showers. Sites offer water taps, fire rings, picnic tables and old-growth trees for a bit of privacy. If camping isn't your thing, nearby Oak Harbor and Anacortes offer a wide range of hotels, while the smaller towns of Coupeville and La Conner are both within a half hour's drive and offer charming downtown waterfronts as well as wonderful B & Bs and small inns.
Activities
The diverse landscape offers a wide variety of things to do including salmon fishing right from the shore, fly-fishing in the freshwater lakes for brown trout, hiking the over 40 miles of trails as well as beachcombing, boating, sailboarding, kayaking, scuba diving and more. In the spring and fall, there's a good chance you'll even spot orcas or gray whales offshore.
Explore the tide pools filled with an abundance of marine life and if you aren't sure what's what, talk to one of the beach naturalists who are available during low tides to find out.
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Bird lovers might join San Juan Cruises on their bird-watching cruise from early May through late August every Saturday. Just a few of the birds in the area include eagles, gulls, ducks, herons, hawks, ospreys, pheasants, owls, quail, turkeys, woodpeckers and more.2014-05-27T11:42:00-07:002018-08-20T13:28:26-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:1515Lake Sammamish State ParkLake Sammamish is a beautiful freshwater lake located 15 miles east of Seattle and just a few miles west of Issaquah. If you're looking for a peaceful, secluded lake that is more tranquil than those closer to the big city, Lake Sammamish is ideal.
One of the best places to enjoy it is by visiting the 512-acre day-use park, Lake Sammamish State Park featuring nearly 7,000 feet of waterfront. The park also includes diverse natural wetlands, a salmon-bearing creek, a great blue heron rookery and one of the largest freshwater beaches in the greater Seattle area.
How to get there
From Seattle, take Interstate 90 east to exit 15 for WA-900 E/17th Ave NW. Turn left, following 17th Ave NW to NW Sammamish Road. Turn left onto NW Sammamish Road and the park will be on your left.
What you need to know
The park is open from 6:30 a.m. until dusk year round. If you'll be entering with your vehicle, you'll need a Discover Pass, currently $30 for an annual pass or $10 for a day pass. If you plan to fish, a Washington recreation license is also required.
Boaters will find nine watercraft launches here- a daily watercraft launching permit for $7 must be purchased, in addition to the Discover Pass.
Activities on the water and throughout the park
Fishing is a popular activity at Lake Sammamish with the opportunity to catch cutthroat and rainbow trout, Chinook salmon, smallmouth and largemouth bass as well as brown bullhead catfish. Kokanee and steelhead are also here but off limits.
This is Western Washington's premier small-mouth bass lake with quite a few here for many years; fish near the old pilings and submerged trees around the south end of the lake or around one of the docks, floats, or gravel-bottom beaches.
This is a quintessential park for summer picnics and an ideal lake for swimming, floating across the water in an inner tube or just enjoying a walk along the beach.
If you want to get out on the water but don't happen to have your own boat, you can rent a paddle boat, kayak, canoe or stand-up paddleboards through Issaquah Paddle Sports with rentals available Memorial Day through Labor Day at Sunset Beach.
Bring a camera and a pair of binoculars as there is an abundance of birds that call this area home. Just a few you might see include eagles, great blue herons, green herons, king fishers, ducks and geese. Look for the eagles and their nests high up in the trees around the southern part of the lake. You might spot beaver or river otter here as well. If you hope to see a heron, sit in silence near the rookery and you're bound to spot one or more of these magnificent birds.
The park also offers several easy hiking trails and the opportunity to go mountain biking through natural areas on paved and dirt roads. You'll find sanded volleyball courts, two baseball fields and two "big toy" children's play areas here as well.
While the park does not include a campground, you'll find plenty of accommodation options in nearby Issaquah or Bellevue. It does feature 475 unsheltered picnic tables, plus 80 barbecue grills on stands. There are also two reservable shelters, including a kitchen shelter with two sinks and a center counter with electrical outlets. "The Rotunda" offers three sinks and a central fireplace.2014-05-22T10:17:00-07:002018-08-20T13:28:16-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:1516Discovery ParkSeattle's largest park is a massive 534 acres set upon the shores of Puget Sound rising up to Magnolia Bluff overlooking the glistening waters. Magnificent views of the Cascade and Olympic Mountain ranges as well as nearly 12 miles of walking trails, two miles of protected tidal beaches, sheer sea cliffs, open meadows, forests, streams and sand dunes can all be found in its diverse terrain.
The park is also home to West Point Lighthouse and the majority of the Fort Lawton Historic District is found within the park's borders.
What you need to know about visiting
Discovery Park is located about 5 miles northwest of downtown Seattle at 3801 West Government Way in the Magnolia neighborhood. There is no cost to get in, or to park. Keep in mind that to get down to the beach will require a 1 ½ mile walk from any of the three parking lots. There is a small parking area near the beach; however, it is reserved for those with a special permit. They are available on a first-come, first-served basis only for those who are physically unable to walk down to the beach due to injury, illness or another condition through the Discovery Park Environmental Learning Center. In addition, families with children under eight years old and those who are 62 years of age or older can get a permit when available.
The park is open from 4 a.m. to 11 p.m. every day of the year with the Environmental Learning Center open from 8:30 a.m. to 5:30 p.m., Tuesday through Sunday. Dogs are allowed in the park other than on the beach or on the Wolf Tree Nature Trail.
Activities and Attractions
You'll find miles and miles of beach that stretch along the park's western shore, ideal for walking, beachcombing or exploring tide pools at the rocky north beach when the tide is -1 or below; at south beach you'll find a wide sandy beach with tide pools found at any low tide.
The park also offers a children's playground, tennis courts and basketball courts.
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With 7 miles of hiking trails, this is another popular activity in the park. The 2.8 mile Loop Trail will bring you through sand dunes, meadows and forests. A number of trails can be found off the Loop Trail leading to the beaches and Puget Sound. The quarter-mile Wolf Tree Nature Trail includes a large collection of native plants.
<img src="https://assets.site-static.com/userfiles/628/image/west-point-light-house-magnolia_660.jpg" alt="Seattle Washington Discovery Park" title="Seattle Washington Discovery Park" width="660" height="440" />
Hike to West Point Lighthouse, built in 1881 and found on the westernmost point in the park. To get there, take the Loop Trail to South Beach Trail or Hidden Valley Trail which connects with Discovery Park Boulevard just above the beach and the lighthouse.
Pearl Jam fans might be interested to know that the band's music video for "Hunger Strike" was filmed at the park and features the lighthouse.
Take a kayak out on the water, bike the trails or just enjoy a picnic on the grass. Don't forget your camera as there are many picture-perfect photo opportunities here, including majestic views of Mount Rainier on a clear day. This is also a bird watchers paradise with the diverse habitats offering the chance to spot over 270 different species.2014-05-20T12:10:00-07:002018-08-20T13:28:06-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:1523Sequim Bay State ParkSequim Bay State Park can be found on the eastern end of Sequim on the northern coast of the Olympic Peninsula. This year-round marine camping park offers 92-acres of forested sites as well as nearly 5,000 feet of saltwater coast at the edge of a calm, tranquil bay.
The biggest draw is its location, with the opportunity to take a dip into the cool water on a warm summer day, hop into your boat and sail around the peninsula, drop a crab pot right off the dock or cast your line to catch your own dinner for the evening.
The surrounding area is filled with numerous attractions as well as the opportunity for a myriad of adventures should you wish to get out and explore.
Location
Sequim has practically legendary status for its location in the rain shadow, giving it more days of sun than anywhere else in Western Washington. The Olympic Discovery Trail, a paved county maintained trail that traverses approximately 130 miles from the Victorian seaport town of Port Townsend west to the shores of the Pacific Ocean, runs right through the park providing outstanding opportunities for biking, running and walking.
Olympic National Park is just a short drive away and filled with numerous hiking trails, hot springs, dazzling mountain lakes and towering waterfalls.
<img src="https://assets.site-static.com/userfiles/628/image/marymere-falls-olympic-national-park-washington-usa_997.jpg" width="660" height="997" alt="Olympic National Park Waterfall" title="Olympic National Park Waterfall" />
Campsites and campground amenities
The park offers 49 tent spaces, 15 utility spaces, three restrooms and three showers. The hookup loop includes several sites that can accommodate RVs of up to 45 feet while dry camping areas are able to accommodate RVs up to 30 feet.
There are two loops of forested sites, with some very close to the water including sites 80, 81 and 82 and considered the "premier" spots in the park. The best sites in the upper loop are located at 28, 31 and 35; these sites are just slightly farther from the water.
All sites include a BBQ grill, campsite table and fire ring. Campers have access to the comfort station, drinking water, firewood for a fee and restrooms with flush toilets and hot showers at no extra charge.
Campground and area activities
There are numerous activities that can be enjoyed right from the campground, including hiking, biking, swimming, bird watching, crabbing, fishing, boating and other water sports.
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In addition to nearby Olympic National Park, you'll find a wide range of attractions within just minutes of the campground.
Visit Purple Haze Lavender Farm to view magnificent fields of lavender and more than 15,000 plants of over 50 varieties. This is a popular destination for visitors to learn how lavender can be used in aromatherapy, culinary, floral and landscaping; purchase lavender goods at the gift shop or even try tasty lavender ice cream.
<img src="https://assets.site-static.com/userfiles/628/image/lavender-farm_660.jpg" alt="Olympic National Park Lavendar" title="Olympic National Park Lavendar" />
Guests to the Olympic Game Farm can enjoy a very up close and personal experience with bison, elk, llama, reindeer, yak and even zebra who welcome visitors driving through in their vehicle in hopes of a tasty treat.
The farm opened to the public four decades ago after becoming a haven for retired Hollywood animals as well as for captive bred animals that were in need of a loving home. Lions, tigers, wolves, cougars, lynx, fox, coyote and other animals can also be seen - although they won't be sticking their head in your car window.2014-05-15T10:06:00-07:002018-08-26T10:21:59-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:1521Kalaloch CampgroundKalaloch Campground can be found in southwest corner of Olympic National Park, set on the edge of a bluff that overlooks the Pacific Ocean. This is the only campground on the south coast of Washington State that offers direct beach access. It features a wide, sandy beach strewn with unique pieces of driftwood and thousands of shells.
Here you'll have the best of both worlds, with panoramic water views to the west and the majestic Olympic Mountains to the east. The park offers especially diverse terrain from the ocean shores to Pacific temperate rainforest and even alpine glaciers.
Location
The campground is situated directly off Highway 101, 5 ½ miles north of Queets. Queets is an unincorporated community set along the Queets River at the northern edge of the Quinault Indian Reservation with the nearest town of significance being Forks, about 40 miles north.
This is an ideal region for those who like to get away from it all and enjoy outdoor adventures, with beautiful Lake Quinault and the lush Hoh rainforest just a short drive to the east.
Campsites and campground amenities
The campground offers 171 campsites with 12 RV non-electric sites and 149 standard, non-electric sites. It is open year round and from June through September; reservations can and should be made to avoid disappointment. Other times of the year, sites are available on a first-come, first-served basis. As expected, sites with an ocean view fill very quickly - make reservations early for these premier spots.
<img src="https://assets.site-static.com/userfiles/628/image/boy-scout-camp-site_600.jpg" width="600" height="393" alt="Washington Coast Camping" title="Washington Coast Camping" />
While running water is available all year long, there are no showers. The campground does include flush toilets and a dump station is available for a small fee. The nearest shower facility can be found 9 miles away, while firewood and other basic grocery items can be purchased at the nearby general store found on the Indian Reservation.
Each site includes a campfire ring with grates and a picnic table. Of course, the highlights of a stay here are the spectacular sunsets over the ocean and the sounds of the crashing waves lulling campers to sleep at night - drowning out any human noises.
Campground and area activities
At the campground itself along the Pacific shoreline you'll find numerous things to do. Explore tide pools filled with an abundance of marine life including sea urchins, star fish and crabs, watch the sea otters float across the water's surface or search for the whales and dolphins that occasionally emerge.
This is also a bird watcher's paradise with western gulls, bald eagles and a myriad of coastal birds that are frequently spotted nesting and feeding along the coast here. Hiking the southern coast also offers the chance to taken in breathtaking sights of wild, pristine beaches and a wide variety of wildlife.
Hardy, strong swimmers might consider taking a dip, but the area is known for potentially dangerous rip tides as well as large drifting logs that can also pose a serious threat. The best swimming can be found at nearby Lake Quinault.
Numerous small beaches line this large lake that warms just enough during the summer months to make for a comfortable swim; kayaks are available for rent here as well. You might also consider joining the three-hour Rainforest Tour that departs from Lake Quinault Lodge to discover the magical rainforest and the best spots for picture-postcard photos.2014-05-08T09:26:00-07:002018-08-26T09:35:51-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:15245 Must Visit LighthousesThere are 18 active lighthouses in the state of Washington as well as several still standing inactive lights and one serving as a museum. Washington's coast is home to some of the most interesting and beautiful lighthouses in the country. These beacons of safety for sailors around the world have played an important role in the development of ocean travel for many years. Today, they are featured in many popular photographs and many enjoy exploring them to get a glimpse of maritime history.
Here is a look at the top five must-visit lighthouses in Washington.
New Dungeness Lighthouse
The New Dungeness Lighthouse is one of the oldest in the Pacific Northwest and located at the tip of the 5-mile long Dungeness Spit in Sequim on the northern coast of the Olympic Peninsula. It's been in continuous operation since 1857 and free tours are available every day. The Spit is part of the Dungeness Wildlife Refuge which provides a critical habitat for over 250 species of birds and 41 species of land mammals.
This lighthouse is one of a very few that allows guests the opportunity to be a lightkeeper. Volunteer lightkeepers stay for one week at a time, performing maintenance duties as well as giving tours and offering historical information to visitors. If you want to take the tour, keep in mind that it requires a 5 mile walk to the end of the spit; however, it is on fairly level ground and not too difficult. If you stay as a lightkeeper, transportation is available.
West Point Lighthouse
West Point Lighthouse is located in Discovery Park just 5 miles north of downtown Seattle. It opened in 1881 and was the first manned light station on Puget Sound. The 23-foot-high lighthouse marks the northern extent of Elliott Bay. It is opened to the public although tours are offered just certain times of the year.
It is about a 1 ½ mile hike from any one of the three parking lots found in the park, but once there you'll be rewarded with spectacular views of the Olympic Mountains and even Mount Rainier on a clear day.
Cape Disappointment Lighthouse
Cape Disappointment Lighthouse sits near the mouth of the Columbia River at the edge of the Pacific Ocean in southwest Washington. This lighthouse was one of the very first to be lit on the West Coast in 1856 and is the oldest that is still running today.
Its sits inside the nearly 2,000-acre Cape Disappointment Park, protecting mariners from the rough waters of the Columbia River Bar in the treacherous area that is known as the "Graveyard of the Pacific." You'll find a number of short hikes in the area, some that follow the route of famous explorer Meriwether Clark in addition to being rewarded with breathtaking views of the ocean and Columbia River.
Port Wilson Lighthouse
Port Wilson Lighthouse is set inside one of the most beautiful state parks in the nation, Fort Worden State Park in Port Townsend at the north end of the Olympic Peninsula. It is currently a U.S. Coast Guard lighthouse and has been open to the public for just the last few years. It marks the west entrance into the Puget Sound and is the turning point from the Strait of Juan de Fuca into Admiralty Inlet. The lighthouse was first established in 1879 and was originally on top of the lightkeeper's house. Its foghorn can be heard from over three miles away, blasting every 30 seconds. On a clear day from here, Mount Baker, Mount Rainier, the Cascade Mountain range and the Olympic Mountains can all be seen.2014-04-29T10:25:00-07:002018-08-26T10:35:06-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:1519Dungeness National Recreation AreaDungeness National Recreation Area lies adjacent to the Dungeness National Wildlife Refuge on the northern coast of the Olympic Peninsula in Sequim. The Refuge is filled with eelgrass beds and tide flats that offer a haven to an abundance of migrating shorebirds in the spring and fall as well as flocks of waterfowl in the winter. The eelgrass beds also offer a nursery for the young salmon and steelhead in the area.
The star attraction in this spectacular region is one of the world's longest natural sand spits, Dungeness Spit, which serves to soften the wild waves of the sea and form a serene bay, picturesque beaches and tide flats.
While camping is not allowed directly inside the refuge, you will find a wonderful campground within the Dungeness Recreational Area that sits right at the edge, atop the bluffs overlooking the Strait of Juan de Fuca. Many sites offer stunning panoramic views of the dazzling turquoise waters. If you enjoy being lulled to sleep to the sounds of the crashing waves, this campground may just fit the bill.
Location
The Sequim-Dungeness area boasts the driest region in Western Washington with an average of just 17 to 18 inches of rain annually, or about half that of Seattle. Known for being situated in the "banana belt," the mild weather is due to its location in the Olympic Rain Shadow where the typical southwesterly winds during stormy weather bring rain to the southwestern side of the Olympic Mountains. By the time this air reaches the summit of the Olympics, most of the moisture is gone.
<img src="https://assets.site-static.com/userfiles/628/image/family-pointing-at-olympic-mountain-range_600.jpg" width="600" height="294" alt="Olympic Mountains Camping" title="Olympic Mountains Camping" />
Travelers are often surprised to find that while it may be pouring rain in the rest of Western Washington, it's sunny and dry here.
Sequim and the entire Dungeness Valley offer a wealth of outdoor adventures and the opportunity to pick your own fresh blueberries, blackberries, strawberries or lavender. Here you can dine, or even catch your own Dungeness crab, native to the area.
Campsites and campground amenities
The campground features 64 premium campsites in a forested area with lots of privacy due to the dense undergrowth between them. You'll find about one-third spaced along the high bluff just above the water, with sites 8, 10, 12 and 13, arguably the best. While reservations can be made for sites 34 through 66, sites 1 through 33 are available only on a first come, first served basis. There are two camp host sites, occupying 18 and 21.
Sites typically offer either full shade or partial shade with a fire ring and picnic table. There are no utility hookups; however, there are two fully ADA accessible restrooms as well as coin-operated showers available. Water faucets can be found scattered throughout the area.
Campground and area activities
With such close proximity to the Dungeness Spit, many campers enjoy the activities available there. The refuge offers a bird watcher's paradise with over 250 species of native shorebirds. There are also 41 species of land mammals, including harbor seals.
<img src="https://assets.site-static.com/userfiles/628/image/camping-in-northern-washington_600.jpg" width="600" height="478" alt="Olympic Mountains Camping" title="Olympic Mountains Camping" />
The adventurous might hike the 5.5 miles to the end of the spit to explore the Dungeness Lighthouse found at its tip; tours are available for free every day of the week. There are also numerous hiking and biking trails that can be found throughout the region while both salt water and freshwater fishing can be enjoyed in the Dungeness River, Strait of Juan de Fuca, Discover and Sequim Bays.2014-04-24T12:20:00-07:002018-08-25T12:24:31-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:15175 Quaint Waterfront Communities in the South Puget SoundSouth Puget Sound is home to a number of charming waterfront communities. Some have even been called "dream towns," with many outsiders yearning to call them home. Just an hour or even closer from downtown Seattle while offering the peace and tranquility of a town that's world's away, here is look at our top 5 quaint waterfront communities in the South Puget Sound region.
Steilacoom
This historic, vibrant community is a classic quaint Pacific Northwest coastal town. Set beneath the great shadow of Mount Rainer along the shores of the Sound, it was the first incorporated town of the Washington territory.
<img src="https://assets.site-static.com/userfiles/628/image/mt-rainier-portrait_600.jpg" width="600" height="336" />
Each turn of this tiny hamlet seems to bring even more incredible vistas. Strolling through the town's main street feels like a walk back through time. Lined with an old fashioned barbershop complete with red-swirled pole, the historic Bair Drug & Hardware with its soda fountain offering thick and creamy malts and the Steilacoom Historical Museum that includes period clothing, photographs, woodworking tools and farming implements.
You'll find 32 buildings and landmarks named to the National Register of Historic Places in Steilacoom with numerous lovely historic homes such as the Nathaniel Orr Home decorated with original period furnishings and artifacts.
Vashon on Vashon Island
Vashon Island is just a short 20-minute ferry ride from Seattle yet a rural throwback that's home to more than a dozen small family farms. After Seattle pioneers cut down trees on the island and shipped the logs to San Francisco, farming became the island's main industry. In the summer there are numerous U-pick strawberry and blueberry farms, roadside stands and even a few stocked with winter produce in the cooler months - an honor jar is used reading "pay here."
In the main town of Vashon, shopkeepers are known to greet their patrons by name and the only traffic jams here are on the sidewalks when residents stop to chat with neighbors, friends and even visiting strangers.
Gig Harbor
Gig Harbor is a revitalized historic seaport community that bills itself as the "Crown Jewel of the Puget Sound." Filled with culture, heritage and charm it astounds visitors with its rare beauty and rich maritime history. This is the southern gateway to the Kitsap and Olympic Peninsula lying just across the Tacoma Narrows Bridge from Tacoma.
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Gig Harbor is tucked away on a scenic inlet that frames amazing views of Mount Rainier with its circular bay dotted with sailboats and fronted by evergreen hills and spectacular homes. Walk the town's two mile bayside walkway for more breathtaking views, as well as cozy cafes, upscale waterfront eateries, eclectic shops, art galleries and wide expanses of open water.
Anderson Island
Technically, Anderson Island doesn't have much in the way of a town. This 8-mile long island has just one general store and a single restaurant. The island itself is the community with about 1,000 residents who live here year-round and want it remain quiet and quaint.
<img src="https://assets.site-static.com/userfiles/628/image/beachwalker-smiling_600.jpg" alt="Anderson Island Waterfront" title="Anderson Island Waterfront" width="600" height="400" />
This is the southernmost island in the Puget Sound and just a short ferry ride from Steilacoom. Enjoy unobstructed views of Mount Rainier, two freshwater island likes, a picturesque beach and a carefully preserved pioneer past. It's a wonderful place to enjoy a bike ride, a hike, enjoy a picnic or go bird-watching.
Allyn
Allyn is a quaint village perched on Case Inlet in South Puget Sound offering a charming waterfront park as well as a number of shops and restaurants. Bring a picnic lunch and stroll the historic pier built in 1922, originally used for mail delivery, ferry passengers, trade and commerce.
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Visit Allyn's historic church, built in 1909, which contributes its white steeple to the village's charm. Allyn is rich in the historic arts with the Old Cedar Forge and Gallery full of antique tools from the blacksmith trade, and the forge is still in daily operation.2014-04-22T13:19:00-07:002018-08-20T13:27:42-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:1520Fort Ebey State ParkFort Ebey State Park can be found on Whidbey Island near the town of Coupeville, featuring three miles of saltwater shoreline along the Strait of Juan de Fuca as well as a freshwater lake. The park was originally a coastal defense fort during World War II, part of the original "Triangle of Death," that protected Puget Sound from invasion with concrete platforms marking the gun locations.
Today, visitors can enjoy saltwater or freshwater fishing, crabbing and other water activities as well as miles and miles of hiking and biking trails found throughout the 645-acre park.
Location
The park and campground is located about two miles north of Coupeville and eight miles south of Oak Harbor on Whidbey Island. The island is connected by the Deception Pass Bridge on Washington State Route 20, making it accessible on the north end by vehicle. For those coming from the Seattle area or the Olympic Peninsula, it is easier to reach via ferry from Mukilteo to Clinton or from Port Townsend to Coupeville.
<img src="https://assets.site-static.com/userfiles/628/image/deception-pass-bridge_600.jpg" width="600" height="216" alt="Deception Pass Bridge" title="Deception Pass Bridge" />
Campsites and campground amenities:
The campground features 39 standard campsites and 11 utility campsites with electricity and water hook-ups. It also offers one water trail campsite that is available only to campers who arrive via a human-powered watercraft.
There is one ADA restroom as well as two shower facilities, one that is ADA. There is no dump station available. Each site includes a picnic table and fire pit with a grate for grilling. Sites offer plenty of shade as well as lots of privacy. There are many sites considered to be "the best," including 1, 3, 15, 17, 22, 24, 26, 28, 29, 30, 36, 38, 39 and 46. Reservations can be made online through Washington State Parks.
Campground and area activities
Enjoy panoramic views of the water, Olympic Mountains and magnificent sunsets. This is the spot for the very best vistas on the island of the Strait of Juan de Fuca. Just a few of the activities available here in addition to hiking, biking and fishing, include paragliding, surfing and bird watching.
Beaches are filled with beautiful pieces of driftwood that are legal to remove - just don't take a truck load. Creative types can make all sorts of amazing art objects from them - or something as useful as a walking or hiking stick.
With the diverse terrain found here including acres of evergreens, ponds, marsh, bluffs and saltwater shores, this is a bird lover's paradise year round. The park is on the Puget Loop of the Great Washington State Birding Trail. Red crossbills can be seen frequently throughout the year and eagles are often spotted at Lake Pondilla.
<img src="https://assets.site-static.com/userfiles/628/image/bald-eagle_660.jpg" width="660" height="528" alt="Bald Eagle" title="Bald Eagle" />
Other birds that can be viewed include Cooper's hawks, willow flycatchers, chestnut-backed chickadees, red-breasted nuthatches, golden-crowned kinglets, harlequin ducks and many others. Watch for migrating gray whales just offshore as well as harbor and Dall's porpoises and the occasional orca whale. Along the Old Gun Battery Trail look for great horned, barred and Northern saw-whet owls that nest in the area.
Visitors can also explore concrete bunkers that were built for the original military fort in 1942.
The charming town of Coupeville is just a few minutes from the park. The historical waterfront is well-worth visiting. Take a self-guided walking tour with a free map available at the Island County Historical Society Museum. Over 50 structures in the town are on the National Register of Historic Places with plagues noting the building dates as well as the original owners of the stunning Victorian homes and commercial buildings.2014-04-04T12:27:00-07:002018-08-25T12:37:09-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:1522Lime Kiln State ParkLime Kiln State Park is set on the west side of San Juan Island, a gem in the archipelago north of the Strait of Juan de Fuca and off the northern coast of Washington State. National Geographic named it the third best summer destination on the planet; just one of the reasons for that is this magnificent 36-acre day-use park!
<img src="https://assets.site-static.com/userfiles/628/image/lime-kiln-state-park-san-juan-islands_600.jpg" width="600" height="398" alt="Lime Kiln State Park" title="Lime Kiln State Park" />
Lime Kiln Point is internationally renowned as one of the best places in which to view whales in the world. The park features a diverse environment including wooded uplands and a rocky shoreline. Minke whales, orcas, sea lions, otters, seals and porpoises all cruise the shoreline with bald eagles frequently spotted soaring through the skies and perched on tree branches.
What you need to know about visiting
Getting to the island is part of the fun. The scenic adventure begins by taking the ferry from the Anacortes Ferry Terminal, which brings passengers on a journey through sparkling waters weaving through small forest islands until reaching the town of Friday Harbor.
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Lime Kiln State Park is located 9 miles from downtown Friday Harbor on the island's west side where you'll find spectacular views and trails that are lined with pacific madrone trees and picnic tables near the water's edge. The park is open from 8 a.m. until dusk every day of the year and requires a Discover Pass available for $10 for the day or $30 per year.
What to do at Lime Kiln State Park
Take a walk down the short paved path to Lime Kiln Lighthouse, first lit in 1919 and the last major light established in the state. It still serves as a navigational beacon for ships in the Haro Strait, with the light blinking about every ten seconds.
In 1978 the lighthouse was declared a Historic Site by the Washington State Advisory Council on Historic Preservation and placed on the Washington Heritage Register and the National Register of Historic Places. In 1985, the lighthouse and surrounding waters were dedicated as a whale sanctuary and research station for marine mammal scientists.
Marine mammal scientists based in the lighthouse track the movements and the behavior of orca whales. While you're there watching for whales, there is a good chance that one of them will be watching along with you and they are often happy to help you spot them and perhaps provide some educational information too. On a clear day here you'll be rewarded with dramatic views of the Olympic Mountain range as well as the shores of Vancouver Island; frequently the weather is rather misty but if you sit and listen you might just hear the song of a whale.
<img src="https://assets.site-static.com/userfiles/628/image/san-juan-island-whale-watching_600.jpg" width="600" height="400" alt="San Juan Island Whale Watching" title="San Juan Island Whale Watching" />
The lighthouse also posts a board with information as to when the last whales passed by. Information is available on the orcas, seals and porpoise in the area to help you distinguish which is which.
Lime Kiln Point State Park is surrounded by 200 acres of county land and includes a variety of short walking trails ranging from easy to fairly moderate. There are a number of whale watching boats as well as guided kayak trips that operate from the park, offering an excellence chance at a more close up look at some of these magnificent creatures.2014-01-08T10:39:00-07:002018-08-26T09:59:27-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:1525Waterfront Romantic Getaways in Washington StateThe options for waterfront romantic getaways in Washington State are practically endless from breathtaking rugged coastal destinations to spectacular island shores and dazzling inland lakes.
Here is a look at some of our very favorite <a href="https://www.washingtonwaterfronts.com/waterfront-vacation-rentals/">waterfront vacation rentals in Washington state</a> for a romantic escape along Washington's magnificent waterways.
Snug Harbor Resort
Snug Harbor Resort on San Juan Island is renowned as one of the best romantic getaways in the nation. Here you'll find <a href="https://www.washingtonwaterfronts.com/waterfront-cabins-cottages/">waterfront cabins</a> that are less than 50 feet from a private pebble beach with the opportunity to walk out to a small island in the front of the resort during low tide. Choose the "Tree House" for especially awe-inspiring views.
The resort offers kayak and whale-watching tours daily from their own docks while the historic seaport town of Friday Harbor offers many award-winning dining establishments and a wide range of eclectic shops, art galleries, beautiful gardens, museums and more.
The Inn at Langley
The Inn at Langley on Whidbey Island has a long list of accolades including being named one of the ten best resorts in the Pacific Northwest by Conde Nast Traveler and ranked on the list of the top ten most charming inns in all of America by Departures.
This romantic retreat overlooks the Saratoga Passage boasting coastal and mountain views from every room. Each includes a balcony to enjoy them from as well as an oversized jetted tub and wood-burning fireplace. Leave your door ajar to listen to the waves as you drift off to sleep.
Lake Crescent Lodge
Lake Crescent Lodge sits on the shores of Lake Crescent, a deep lake with emerald hued waters carved from glaciers centuries ago located inside the northern region of Olympic National Park. This treasure offers an idyllic romantic setting.
Choose a Roosevelt Fireplace Cabin for the chance to be at water's edge. Rent a rowboat and enjoy a romantic ride, a picnic lunch in a private hidden cove, bask in the sun or take a cool dip in the crystal, clear waters with your loved one at your side.
Quileute Oceanside Resort
If you'd like to spend time among the beauty of Washington's rugged coastline, Quileute Oceanside Resort in La Push may fit the bill. This resort offers deluxe oceanfront cabins furnished with fireplaces and Jacuzzi tubs but sans TV or telephones in order to "better facilitate your escape from the chaos of the outside world."
The only sounds you'll hear are the waves crashing just steps from your door on this truly magical section of the Pacific coast with its beautiful wide, crescent-shaped sandy beach, sea stacks and breathtaking sunsets.
During whale migration between March and May, hundreds of grey whales can be spotted passing through these waters right offshore.
Silver Bay Inn Resort
If you're looking for a wild, remote escape with the opportunity to disconnect from civilization, Stehekin Island on Lake Chelan provides the ideal answer. The Silver Bay Inn Resort is set on this island featuring cozy, romantic cabins with spectacular views of the craggy 7,000-foot North Cascade Peaks and the edge of the crystal-clear lake.
The ultimate peace and quiet can be found here. The resort caters to adults and even the incessant ringing of the cell phone or blaring of a TV is nonexistent. There is no cell service, no television and no roads that lead to Stehekin. Getting there is part of the fun as it requires a private boat, a trip via the Lake Chelan Boat Company ferry, or a flight with Chelan Seaplanes.
You'll also be provided with bikes to explore the island, canoes and kayaks to explore its surrounding waters, hammocks for those lazy days and a hot tub to soak your cares away.2013-09-06T12:10:00-07:002021-06-01T11:17:58-07:00Puget Sound Specialisttag:washingtonwaterfronts.com,2012-09-20:151410 Tips for Whale Watching in Washington10 Tips for Planning a Whale Watching Trip
Whale watching on the Salish Sea in and around the San Juan Islands is a total experience for the body and soul. The minute the vessel leaves the dock and you begin to soak in the sights, smell the salty air and feel the wind in your face, a calm will settle over you. Couple that with the anticipation of seeing whales and you will find yourself primed for a great adventure on the water.<br /> <br /> We've been privileged to have found ourselves at this very amazing place many times since moving to Washington. To help with your planning a whale watching trip, here are our top 10 things to keep in mind.
1. Choosing a Whale Watching Tour Provider
Whale watch vessels come in all sizes. Do some research on the tours and the captains before making reservations. We suggest selecting a guide who is a knowledgeable naturalist so you'll have the chance to learn while on your whale quest. Bigger boats may work better for your kids as they will have more room to move around. Know your kids and their patience levels. It can be a long trip on the water, if they aren't happy.
Click here to browse our list of <a href="https://www.washingtonwaterfronts.com/washington-state-whale-watching/" target="_blank">Washington State whale watching tours</a>.
2. Watch the Weather
While it is always difficult to plan around weather, be mindful of the seasonal weather conditions and know it is always colder on the water, especially on a moving boat. Dress in light layers during the summer months and heavier layers for early spring, fall and winter.
3. Bring the Appropriate Whale Watching Accessories
Most whale watching boats do not provide accessories to look closely at the whales and stay protected from the elements. We definitely suggest bringing your own binoculars, sunglasses, sunscreen, and a hat.
<img src="https://assets.site-static.com/userfiles/628/image/10-whale-watching-tips-2_660.jpg" alt="10 Whale Watching Tips for Washington State" title="10 Whale Watching Tips for Washington State" width="660" height="471" />
4. Capture the Memories with all Your Senses
Cameras of all kinds should be included. While it's great to preserve the memories with photos, a word of personal advice - don't become consumed with getting "the perfect shot." Enjoy seeing and hearing the whales as they interact in their natural environment. You'll never forget it!
5. Bring Snacks
Similar to whale watching accessories, not all whale watching guides offer snacks to tide over a grumbling stomach. Since the trip is usually 3-4 hrs, you might want to bring some water and a snack so you can fully enjoy your adventure.
6. Don't Forget About Other Wildlife
The Puget Sound, Salish Sea, and the waters surrounding the San Juan Islands are rich with all kinds of wildlife. Be on the lookout for seals, sea lions, otters, bald eagles, and many other species of birds, land mammals, and water fowl. Whales are not the only species known for capturing the hearts of their admirers!
<img src="https://assets.site-static.com/userfiles/628/image/10-whale-watching-tips-3_660.jpg" alt="Whale Watching in Washington State" title="Whale Watching in Washington State" width="660" height="528" />
7. Research, Research, Research
Check out <a href="http://www.orcanetwork.org" target="_blank">www.orcanetwork.org</a> and <a href="http://www.whaleresearch.com" target="_blank">www.whaleresearch.com</a> to learn about the resident whale pods and the transients before going. Both are wonderful sites full of great information.
8. Look for Opportunities to Whale Watch from Land
If you take a San Juan Island whale watching tour that allows you to spend some time on the island, be sure to check out Lime Kiln State Park. It offers amazing opportunities for whale watching from land as the orcas love to come close to shore to play in the kelp. <a title="Lime Kiln State Park" href="http://www.parks.wa.gov/parks/?selectedpark=lime%20kiln%20point&subject=all" target="_blank">Lime Kiln State Park</a>
9. Budget Ahead
Whale tours can be expensive, so we definitely recommend budgeting ahead. Summer costs range around $89+tax for adults and $79+tax for children 12 and under. Costs for the other seasons are a bit less expensive.
10. It's Addictive!
Seeing whales will be the highlight of your trip and just to offer fair warning...it's addictive. You'll want to return again and again to see these amazing creatures once you've met them. And yes, they are recognizable and have personalities. In fact, Granny (J2) turned 100 years old in July 2011! <a href="http://whaleresearch.com/J2_Party.html" target="_blank">http://whaleresearch.com/J2_Party.html</a>
We hope you have the chance to meet her and the rest of the resident and transient pods on your San Juan Island whale watching tour.
<img src="https://assets.site-static.com/userfiles/628/image/10-whale-watching-tips-4_660.jpg" alt="Tips for Washington State Whale Watching" title="Tips for Washington State Whale Watching" width="660" height="495" />
2012-06-19T10:06:00-07:002021-09-13T04:09:56-07:00Puget Sound Specialist