As part of the larger market trends, waterfront homes have become more affordable and with higher selection. In some communities, the prices have held up very well due to continued demand by a general group of buyers insulated from the broader market issues of credit, income, mortgage options, and such. However, there are also an increasing number of good options in quality second tier waterfront locations, and supply and demand is gradually catching up with market realities.

The upside for sellers though is that the relative valuation and appreciation of waterfront continues to be stronger in relationship to the rest of the market. It’s always good to have a valuable, in demand type of property where they aren’t making any more shoreline, but they sure can make more inland subdivisions and condos.

An article appeared in today’s Seattle Times about this topic. Although the specific anecdotes in the article are not locally based, the general concepts can still apply.

View of Lake Union and Seattle skyline

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