Waterfront Market Report

masthead-mt-rainier.jpg

Pandemic-fueled increase in waterfront home values stalls during second half of year

Waterfront properties provide owners an experience that feels like being on vacation, and Bainbridge Island is the ideal place to live this lifestyle.  

While the pandemic fueled significant growth in the values of waterfront properties, the perfect storm of economic headwinds in the middle of 2022 slowed down this niche sector of the Bainbridge Island housing market.

Between 2020 and 2021, the average waterfront home sale price rose about 20%, but from 2021 to 2022 it rose just 6%. The greatest YOY difference in this market was the number of pending sales, which was more than a third less than seen the prior year. Also notable, 2020 and 2021 saw more sales over four million dollars than had ever been seen before, yet in the second half of 2022 that price point slowed to nearly zero and eight homes listed in that price point came off the market.

Given that Bainbridge Island has nearly 60 miles of shoreline, it’s no surprise that a myriad of variables go into the market value of each property. There are many nuances such as privacy, quality of view, quality of and accessibility to the beach, quality of the home, etc. If you’d like to discuss these details and get the latest insight into the waterfront housing market here on the island, please feel free to reach out to me. 

Thanks,

Jason

P.S. Sharing the love of a recent client.

Jason’s eagerness and love for the island was a breath of fresh air to us. We did not know Bainbridge at all and needed someone who could work with us honestly to find what we were looking for. Jason was generous with his time to educate us on the complications of waterfront homes and kept us current on properties that may be a good fit.. When we found our home, Jason went out of his way to help us understand the technicalities so we could make informed decisions with a real sense of security. He is intuitive enough to understand his client’s needs and his attention to detail and patience was key in representing us. Jason has exceeded our expectations and we recommend him before any other.

-- Richard and Virginia Doleshek

 

Loading...

Loading...

Waterfront Real Estate Sales on Bainbridge Island in 2022

Are you curious what a property sold for last year? Click the links below to view the sold listings in my Multiple Listing Service "Portal" and see sale prices for every property sold on Bainbridge Island in 2022.

 

IDX Image

If you would like, I can sign you up for an auto search so you can follow a specific niche of the market.

 

Waterfront Single Family Home Sales 

 

Waterfront Condo Sales

 

Waterfront Vacant Land Sales - NONE in 2022

 

Jason is perfect for real estate because he understands people and how to help them through difficult situations.

— Jim and Trish Corsetti

My goal is to serve your needs; I will move mountains to ensure you meet your objectives, listen carefully so I can focus on your motivations, and provide you with the insight you need to make strategic decisions. I'm here to get your job done, so please let me know what I can do for you or those you know.

bainbridge-island-realtor