2015 was a huge year in King County for luxury home sales in the Seattle area. The latest luxury statistics reported by Windermere Real Estate, seen below, show there were 33 home sales worth $5 million or more. Compare that to 2014 when there were 31 $5 million+ sales and it’s clear to see the increasing trend in our region.
Windermere Real Estate led these luxury home sales with involvement in 25 of the 33 sales. Several local publications called upon Windermere for our expertise in this market including KING5 News, The Puget Sound Business Journal, The Seattle Times, Bloomberg, and RealtyToday.
Nearly two-thirds of the luxury sales last year were paid in cash. Seven of these 33 homes sold in 10 days or less, and six of the buyers were local. Most buyers were either business owners or corporate executives, and about 40 percent were foreign nationals primarily from China.
Eastside Leads in Luxury Sales
All but four of the 33 sales were on the Eastside with seven luxury sales in Bellevue and Mercer Island each. There were also five luxury sales in Clyde Hill, four in Medina, and three in both Yarrow Point and Hunts Point.
Windermere Real Estate brokers are trusted in the rising, high-profile nature of our luxury market. All-cash buyers, local and international, are becoming more common. We’re here to continue leading through representation and professional experience in the luxury housing market of 2016.