Washington State Waterfront Real Estate Specialist Publishes the First-ever Waterfront Homes Report Providing the Most Comprehensive Waterfront Market Study Available

BELLEVUE, Wash., May 16, 2019 /PRNewswire-PRWeb/ -- Based on the fact that generalized real estate market data has historically failed to isolate and acknowledge the valuable characteristics of waterfront property, specific to the communities in which the property is located, waterfront property specialist Chris Murphy has designed the Waterfront Report to do just that. He and his team have analyzed the last three years of waterfront real estate transactions, studied every available data point, and organized the results by community. https://www.washingtonwaterfronts.com/2018-waterfront-report/#index

While conducting this analysis significantly expanded the depth of their waterfront market knowledge, the most valuable result is that he has determined the property attributes real waterfront buyers seek and how they are funding their investments. This information arms waterfront property owners with greater context and allows for more informed decision-making when deciding to sell and at what price. https://www.washingtonwaterfronts.com/2018-waterfront-report/#explained

One of the most powerful charts in the 2018 Waterfront Report is the annual waterfront transaction volume, as it shows the undeniable fact that the real estate market moves in cycles and that those thinking about selling their waterfront homes should consider doing so sooner than later. https://www.washingtonwaterfronts.com/2018-waterfront-report/#depth

Another major market characteristic the data analysis illustrates is that a significant amount of investments in waterfront property by volume are made with cash. Throughout the markets analyzed, 39% of all purchases were made with cash over the last three years. Lake Washington had among the highest percentage of cash purchases by volume with $286 million (58%) out of $493 million in total transaction volume. San Juan County was the leader among county data with $67.8 million (65%) out of $104 million.

Said Chris, "The degree with which buyers are paying cash greatly emphasizes the importance of investing time and money prior to listing a waterfront property to ensure the prospective buyer's experience is nothing less than exceptional. The likelihood of a cash offer with a quick closing is notable and sellers want to be in the best position possible to facilitate a smooth transaction, which will invariably impact the price at which their property is sold."

Chris is a Certified Luxury Home Marketing Specialist and Resort & Second Home Property Specialist in the Coldwell Banker Bain of Tacoma Proctor office. Prior to joining Coldwell Banker Bain, he served as Marketing Director for Point Ruston LLC and Vice President of Marketing for Seabrook Land Company, respectively.

*According to final 2018 statistics derived from the Northwest Multiple Listing Service data (NWMLS).

About WashingtonWaterfronts.com
From its initial launch in 2000, https://www.WashingtonWaterfronts.com has existed for two reasons: (1) provide an easy-to-use waterfront-specific search experience for waterfront home buyers; and (2) provide an industry-leading marketing platform for sellers to maximize the selling price of their waterfront property. In line with this two-pronged approach, our web platform was intentionally designed to allow prospective buyers to search for waterfront property on more than 1,000 community pages featuring in-depth descriptions, videos, and market data. The foundation on which both of these objectives is built is the WashingtonWaterfronts.com Team's dedication to having the most comprehensive market knowledge and being waterfront specialists you can trust.

SOURCE Washington State Waterfront