Bi-Annual Seattle Floating Home Market Report
Much like the water that floating homes live on, we experience ebbs and flows with Seattle real estate. So far, 2019 has been a year full of fun, exciting developments and sales for floating homes.
The #1 question we get asked is “What’s the Market Like Right Now?”
This question can sometimes be construed in two ways. It depends – “are you a buyer or a seller”, right?
My friends, floating homes of course experience the same ride as land homes but only on a smaller scale. What do I mean? I mean when we start to see “price improvement” for homes actively on the market, it can mean there are less buyers and more inventory (sellers). Sellers are coming off a three year high from home sales and some expect to still be in that value system.
Floating homes, however, magically seem to hover around a certain number of homes which sell each year no matter what kind of real estate market we are in. That number is around 25. I am strictly referring to floating homes and not houseboats or vessels which do not have a King COUNTY tax assessor plaque.
So far this year we know of FOUR OFF MARKET SALES, two of which SeattleAfloat have completed. This, my friend, is why it is so important to reach out to us if you are thinking of buying or selling because some of these sales are not in the MLS or made public and it could directly impact how you buy or sell in the future.
By including the four off market sales, to date, there are 14 floating home sales as of July 21, 2019. We can still make our magic 25 number of sales because there are currently 13 active floating homes and we are only half way through the year.
Concentrating on the solds, the median sales price is $910,000. When I wrote the same market update last summer it was $750,000.
Looking at the actives, we see some amazing ranges of floating homes out there. From $499,000 on a condo dock to $3.2M for a brand new construction. The time is now to keep our community alive and vibrant. So many people we talk to each day are appreciative floating homes are a staple in our city. Let’s keep it this way!
