Greater Seattle Luxury Home Report, Q1 2022

Luxury real estate in King County is extremely hot this past quarter.  There were 513 luxury homes ($2 million sales price or higher) that sold in first quarter of 2022.  The average list price of these homes was $2,781,348 but sold for an outstanding average of $3,043,523 or nearly 9.5% over list price.   In the same period last year, there were only 371 luxury home sales that sold for an average of $2,903,674 which was approximately 0.7% less than list price.  In addition, this year houses sold with an average of 14 days on the market compared to 40 days last year.

The highest sale in first quarter of 2022 was “only” sold for $12,750,000.  The luxury property is a 7,280 sq ft waterfront home on Lake Sammamish.  Furthermore, the top six sales were on the Eastside as well as 8 of the top 10 sales.  Four were Bellevue luxury homes, two in Medina, and two in Clyde Hill.  The other two sales were in Seattle, both Seattle waterfront homes.  One in Laurelhurst and one in Denny Blaine (between Madison Park and Leschi).  

In the first quarter of 2021, the highest sale was a Medina waterfront home that sold for $18,150,000.  In 2021, all ten of the top ten sales were on the Eastside.  Four in Medina, two in Clyde Hill, two on Mercer Island, one in Kirkland and one on Yarrow Point.  In fact, only one of the top 20 sales and two in the top 25 are located in Seattle.