Hunts Point - Kirkland/Juanita - Medina
Mercer Island - Newport Shores - West Bellevue
Strong trends on the Eastside indicate lower inventory, shorter days on market and higher sales prices across the board, with some areas showing sales prices exceeding list prices. In Mercer Island and Kirkland/Juanita, the two areas with the strongest waterfront sales activity, total units sold have decreased 44% since 2014, while days on market has also sharply decreased 57.14% on Mercer Island (217 to 93) and 42.19% in Kirkland (64 to 37) since 2014. Sales prices on Mercer Island have increased by 25.63% since 2014 ($2.7M to $3.4M). In Kirkland, although sales prices are very comparable to what they were in 2015, the high sale in 2016 so far is $3,955,160 compared to a high of only $2,937,500 in 2015. On the Eastside, Kirkland/Juanita does stand out with an average square footage of 1,500+ compared to 4,000+ in all other areas. Because of this, Kirkland’s average sales price is the only one under $1M on the Eastside.
While living anywhere along Lake Washington is a prized lifestyle, the most coveted shoreline is Washington's "Gold Coast," which includes the waterfront communities of West Bellevue, Medina, Hunts Point, Kirkland, Juanita, Beau Arts, Enatai, Newport Shores, and the north end of Mercer Island. These sought-after areas are near job centers with access to preferred school systems and valuable real estate. In Medina, the average days on market has continued to dramatically decrease each year, with the sale price exceeding the list price by about $30,000 on average. Hunts Point has also seen a significant decrease in days on market, and is now seeing homes sell for an average of over $1,000 per square foot.