Yarrow Point, WA

Sales of homes in the affluent communities of Hunts Point and Yarrow Point have been anything but normal thusfar for 2011. While most homes in these areas are multi-million dollar estate, many with Lake Washington waterfront shorelines, there are a handful of lower-priced homes. These are usually a small slice of the actual sales numbers, but recently a larger-than-normal smattering of those sales have sprung up.

The reasons for the lower prices on these homes are usually apparent quickly--proximity to SR520, uncharacteristically small home, or some feature of lot that doesn't lend itself to these neighborhood's usual standard of space, privacy, and beautiful landscapes. Even still, savvy investors purchasing these homes know that they inherit some of the best schools, neighbors, and city services available anywhere.

More typical for this area, the top recent sale was a 5240 square foot waterfront homes in Yarrow Point, which sold for $2.626 million.

Hunts Point and Yarrow Point Recent Home Sales

MLS# Address City Price Beds Baths Sq Ft
213331 8014 NE 28 St Hunts Point $484,715 4 2.5 1760
179417 8806 Points Dr NE Yarrow Point $630,000 4 3.5 2460
76164 3001 Hunts Point Road Hunts Point $710,000 3 1.5 1700
113558 9050 NE 47th St Yarrow Point $718,000 3 0.75 770
123027 3926 95th Ave NE Yarrow Point $950,000 4 2.5 3533
172317 8581 Hunts Point Lane Hunts Point $1,600,000 3 2.5 3073
188802 4238 95th Ave NE Yarrow Point $2,625,985 4 3.25 5240

Waterfront real estate sales on the Eastside finished out 2010 with a 19% increase in total sales vs. the previous year. This trend follows the strong sales for the year in Seattle and around the Puget Sound. While prices on waterfront and luxury real estate fell in all areas over the past two years, the recent strong sales seem to have created a bottoming out in prices at this point.

Final numbers for 2010 won't be out for a while, but approximate numbers from the MLS give us a good picture of the year. So far, I'm seeing 207 recorded sales of waterfront homes, vs. 168 in 2009. Waterfront houses, being the strongest indicator of the market, were actually up 24% with 146 in 2010 vs 111 in 2009, and a similar 114 in 2008. Waterfront condo sales were flat for 2010 and 2009 at around 60 sales, after a strong 2008 waterfront condo market with 91 sales.

We're seeing the same general market conditions on the Eastside waterfront as we are in Seattle, albeit at somewhat higher prices. Sellers who adjust their pricing to the current market realities are moving properties, and there are still a significant number of waterfront home buyers in the market. Lake Washington and Lake Sammamish waterfront real estate sales continue to improve, and as these sales continue to strengthen the market base, we'll see more clearly where pricing flattens out.

(Eastside cities included: Bellevue, Medina, Kirkland, Yarrow Point, Hunts Point, Kenmore, Renton, Redmond, Issaquah, Sammamish)

The top 10 single family home sales in the Greater Seattle area for 2009, as listed in NWMLS records, were as follows:

This information was not compiled or published by the Northwest Multiple Listing Service.

The luxury home market in Seattle was a bit slow in 2009, but there were still a good number of strong sales late in the year. The market seems to have stabilized a bit for now, which is good news for home sellers looking to move in the luxury home market for 2010.

Sam DeBord and Brian Wiegand
SeattleHome.com - Washington State Realty - (206) 658-3225
Real Estate Brokers, Realtors, Green Certified Pros

Yarrow Point has 3 recorded sales on the NWMLS for September and October. This area, just north of Bellevue, is a protected point in the northern end of Lake Washington. It's a small, private community with beautiful homes and water views. Home prices are usually at or near $1,000,000.

Yarrow Point Homes For Sale

Sam DeBord and Brian Wiegand
Seattle Real Estate Brokers
Seattle Waterfront Homes
SeattleHome.com (206) 552-8820

Statistics not compiled or published by the NWMLS. Full street addresses removed for owners' privacy.