How Is The Current Seattle Floating Homes Market Compared To 2005?
This was a question I got this week via email so I will share the info with you, too.
Actually, the answer is interesting and since I keep hearing brokers around Seattle talking about 2005 prices and comparing them to where we are now, I think it is a good note to pass on on the differences between traditional Seattle real estate and Seattle floating homes.
Keep in mind before I give you these numbers that this market is SMALL. In fact, I have had people not to me that they hoped I had other sources of real estate income besides floating homes because they are a "difficult market". Exact words...from a competitor. The fact of the matter is, though, that there are around 500 Seattle floating homes on Lake Union and Portage Bay. This does not include Seattle houseboats which are vessels (boats) or barges. It is a small market and turnover is LOW. People who live on floating homes tend to stay.
2005 Numbers -
12 Seattle floating homes sold
Avg $/sq foot $570.94
High Sales Price: $1,303,000
Low Sales Price: $312,500
Median Sales Price: $562,000
2010 Numbers -
13 Seattle floating homes sold
Avg $/sq foot $707.44
High Sales Price: $2,080,000 (Molly & I sold it:))
Low Sales Price: $350,000
Median Sales Price: $740,000
The numbers between these years went up and down again, but overall, we are still higher than we were n 2005 today for Seattle floating homes sales. There were a total of 71 Seattle floating homes sold via the MLS in years 2005 thru 2010.
Let us know if you want to see any Seattle Houseboats!
Courtney Cooper
Seattle Realtor, Owner/Designated Broker/EcoBroker
Cooper Jacobs Real Estate
206-850-8841
(Seattle real estate - search all MLS listings from all companies for FREE), SeattleAfloat.com (Seattle Houseboats), GreenLakeLoop.com (Green Lake Blog), QueenAnneBoulevard.com (Queen Anne Blog), MagnoliaView.com (Magnolia Neighborhood Blog)
About Me:
Seattle real estate has been a big part of my life for well over a decade since I began my career in real estate,but also before that time when I was in the process of purchasing my own first home. Buying your first home can be quite overwhelming,but I have managed to help many first time home buyers along the way.
Move up Seattle buyers and other types of specialized purchasing is a great passion of mine! I love Seattle houseboats and you can find me down on the docks of Lake Union and Portage Bay several times a week. Other aspects of Seattle real estate that I adore include Queen Anne Real Estate,Wallingford Real Estate, Ballard Real Estate, Green Lake Real Estate, Laurelhurst Real Estate, Magnolia Real Estate,andSeattle Waterfront Real Estate.
In addition to being a Seattle residential broker and founder of Cooper Jacobs & Seattle Afloat, I am also a member of CBA (Commercial Brokers Association) and head of the Cooper Jacobs Commercial Division in an effort to provide excellent commercial real estate services to the Seattle commercial real estate industry. With a background in accounting and management, it is my great pleasure to coordinate our Seattle commercial brokers.
About Cooper Jacobs Real Estate's Seattle Branch:
My office at Cooper Jacobs Real Estate LLC is located centrally near all my favorite Puget Sound neighborhoods just a few blocks up from Lake Union in Seattle’s Wallingford. Cooper Jacobs Real Estate is a wonderful place filled with talented Seattle real estate brokers and I count myself extremely lucky that I get to spend so much time with these wonderful people. We specialize in different Seattle neighborhoods and suburbs in both residential and commercial real estate and are all very passionate and excited about each of our favorite Seattle neighborhoods and industries!
©Courtney Cooper ©Cooper Jacobs Real Estate LLC
Nice places ! Seems like good deals on the water ! Did they get hit much harder than other real estate ? Ian
Overall, No - always some ups and downs with such a small market and such unique properties - every single one of them is different!
Hi Courtney,
Fascinating analysis!
I have never sold a floating home and probably never will, but I find the information interesting, none the less
Thanks
Phil
Courtney, I've just read a few days about other floating homes but on the east coast somewhere. I didn't know that they really exsisted before.