The Seattle metro area finished 2023 with a modest 3% median home price increase, and the West Coast in general was a late bloomer to recover after witnessing some of the most significant declines in recent years, but, again, that followed the most significant gains during the pandemic.

Realogics Sotheby’s International Realty (RSIR) revealed the outcomes of their yearly sales assessments, comparing the top ten largest brands by sales volumes in 2023. RSIR maintained its leading position across several categories, boasting superior average sales values for waterfront homes on both ends of the transactions.

Danny Varona and Matt Paige of the Paige & Co. real estate team at Realogics Sotheby’s International Realty proudly present this in-depth exploration of the waterfront real estate market on Bainbridge Island. Read on to discover the trends that are likely to shape the waterfront market on the island in 2024.

On January 24, 2024, over a hundred Realogics Sotheby’s International Realty brokers gathered alongside industry experts and keynote speaker economist Matthew Gardner at the Kirkland Branch Office and Lake Street Lounge in anticipation of the upcoming spring sales season.

Just like the changing seasons, the real estate market has its cycles. In the realm of waterfront homes, Bainbridge Island, and Seattle, these patterns take on a unique rhythm. Analyzing five-year trends reveals that active and new listings reach their peak in May/June, gradually tapering off through the summer and hitting low points in November/December. 2023 Winter Market Trends Seattle Bainbridge Island Waterfront Luxury Real Estate 2024 Real Estate Outlook

Buying luxury waterfront real estate is a significant investment, especially here in the Pacific Northwest While price is a crucial consideration, there are other factors that should be taken into account. Here are some essential factors to keep in mind when buying luxury real estate.