We have been selling floating homes for a long time now and the number one question we get from sellers is should we wait until the busy season to sell. Seattle is an interesting market because we are busy almost all of the time. The slower months for us on Lake union are typically and surprisingly mid July until the end of August. In 2020, with the pandemic, people were and still are seriously reevaluating their lives, lifestyles, and who with and where they want to spend their time. I have always found the water to be therapeutic so it is not surprise to me that the rest of the world is taking a closer look at floating homes and waterfront options. Molly and I sell both and we have helped a lot of people change their lifestyles for the better both before and during the pandemic. Even now, coming out of quarantine, there is a stronger interest and the market has never been better to sell your floating home or waterfront property. A perfect storm for sellers of these unique and special properties has emerged.
What do I mean about a perfect storm? There are a few factors with floating homes.
(1) Supply and Demand
This is a constant factor. With Seattle floating homes specifically, we have always had the economics of only having 520 homes on the lake and although the buyer pool is constantly changing, there has been a steady enough demand to have a steady rate of appreciation for decades now. While surrounding markets go up and down, floating homes are typically steadily appreciating.
(2) Surrounding Inventory Crunch
Seattle is still one of the most undervalued West Coast cities and we despite some of our problems we are a highly sought after market for tech and other fields. People are still moving here in droves. Since the early 1990s this has been happening and the surrounding problems you see are a result of our growing pains, but we are too beautiful of a city to not overcome them. Our natural beauty and incredible all season outdoor lifestyle just add to the perks of moving here for a job. Usually a high paying job. As a result, housing is more in demand than ever before. Prices are going up and agents that typically sell homes on land are turning to floating homes as a good condo or single family alternative for their clients that would otherwise choose to live on land. This is producing multiple offers and driving our prices up on the lake at a faster pace than is typical. We even had one go 65% over list recently. It depends heavily on what each floating home has to offer and who it appeals to.
(3) Change In Lifestyle
People have always moved onto a floating home to change their lifestyle, but never before have we seen so many people wanting to absolutely have a change in lifestyle. No doubt the result of months in quarantine, this has been a larger contributing factor and increased demand. Even as we open up more statewide, people have decided that they want a different perspective.
Strong market for Seattle Floating Homes, Seattle Houseboats, and Seattle Waterfront Homes
All of these special properties are lifestyle changing and so we are experiencing stronger sales for houseboats, floating homes, and waterfront at higher rates. We are happy to help you evaluate what your next move might be. Molly and I have been working together for over twenty years and in 2020 alone, we represented more floating home buyer or seller sides than any other broker on the lake. I live on a floating home and volunteer on the Floating Home Association’s board. We are experts and happy to share this lifestyle with you. We are also highly networked in and are great at connecting buyers and sellers. Our brand is Seattle Afloat and we have also teamed up with Duckin. Our reach is more extensive because our collective brands are backed by the largest real estate company in the world, Keller Williams. We are local experts and have global reach. You won’t make a better choice or find people who care more. Please call us if we can help you or provide you with more information. It’s an important call to make.