These are not one-off examples. They reflect a broader trend in how buyers value proximity to water, privacy, and most importantly, access. A permitted dock, private beach, or moorage rights are no longer just desirable features. They are legally protected assets. With only 5,500 docks in Washington’s marine waters and more than 3,000 miles of shoreline,² access is limited by more than just availability—it’s also shaped by regulation.
Greenbank
Denise Seavitt| Global Real Estate Investment Advisor Realogics Sotheby’s International Realty
Lake Union
Westlake, Seattle
A Rare Opportunity Defined by Nature, Lifestyle, and Regulation
Freeland
Waterfront real estate has long been viewed as a luxury, but in Washington State, it has evolved into something even more distinctive: a lifestyle investment shaped by access, scarcity, and stewardship. In 2024, only 3.6% of single-family homes sold across the counties we serve were classified as waterfront properties. This consistent figure, down slightly from the year prior, reinforces what we’ve long observed. True waterfront real estate is inherently limited. Within that limitation, however, lies significant opportunity. In King County, the median sales price for a waterfront home rose to $1.78 million, which is 46% higher than the median for all homes. Kitsap and Island counties saw waterfront premiums that exceeded 50%.1
Access Meets Lifestyle: Why Infrastructure Is the Ultimate Luxury The Pacific Northwest’s boating culture is as iconic as its shoreline. Washington remains one of the most boating-active states in the country, with approximately 210,000 registered vessels as of 2023—more than 70% of them are for recreational use.3 In the first quarter of 2024, buyers spent $339.7 million on new and brokerage boats,4 despite a drop in unit sales. This trend tells a clear story: people are investing in quality, not quantity. But quality boats require access—and in Washington, that access is tightly regulated. Building or modifying a dock, boat lift, or shoreline path isn't as simple as drawing up plans. Projects often require permits from multiple agencies and must comply with shoreline protection laws that prioritize ecological health. The permitting timeline can stretch from six months to a year or more, depending on the location, environmental impact, and local regulations. Areas containing eelgrass beds, salmon spawning grounds, or forage fish habitat receive heightened scrutiny, and in many cases, limitations or outright restrictions.
This is why existing, legally permitted infrastructure is such a premium feature. A home with a dock or lift already in place offers more than convenience—it offers certainty. Buyers can bypass complex permitting timelines and move directly into the waterfront lifestyle they’re pursuing. As counties across the state continue to update their Shoreline Master Programs to address climate resilience and habitat recovery, the opportunity to develop new water access will only become more limited. In today’s market, infrastructure isn’t just an amenity—it’s a legacy feature, securing both lifestyle and long-term value.
4486 E Harbor Road, Freeland | NWMLS# 2380268 $4,250,000 | 4 Beds | 4.75 Baths | 7,511 Square Feet
343 Keystone Avenue, Coupeville | NWMLS# 2392614 $3,188,000 | 2 Beds | 2.25 Baths | 2,002 Square Feet
13 White Rock Lane, Port Ludlow | NWMLS# 2260007 $4,888,000 | 3 Beds | 3.25 Baths | 5,880 Square Feet
Realogics Sotheby's International Realty's trusted advisors have the waterfront market expertise and top tier service to guide you through your journey within these remarkable markets.
2466 Westlake Avenue N #5, Seattle | NWMLS# 2380346 $2,750,000 | 2 Beds | 1.75 Baths | 1,705 Square Feet
245 Lake Avenue West, Kirkland | NWMLS# 2378304 $11,800,000 | 3 Beds | 3.25 Baths | 4,840 Square Feet
9844 NE Lafayette Avenue, Bainbridge Island | NWMLS# 2346185 $3,998,000 | 3 Beds | 3.25 Baths | 3,898 Square Feet
8260 Avalon Drive, Mercer Island | NWMLS# 2390251 $9,890,000 | 5 Beds | 5 Baths | 5,390 Square Feet
9882 Manitou Beach Drive NE, Bainbridge Island | NWMLS# 2391649 $1,748,000 | 2 Beds | 1.75 Baths | 2,173 Square Feet
2270 Shore Avenue, Freeland | NWMLS# 2352685 $12,500,000 | 6 Beds | 5 Baths | 7,214 Square Feet
7161 Beach Drive SW, Seattle | NWMLS# 2385965 PENDING $4,299,000 | 4 Beds | 3.75 Baths | 3,660 Square Feet
15254 & 15260 Broom Street NE, Bainbridge Island | NWMLS# 2260248 $6,750,000 | 5 Beds | 5 Baths | 6,844 Square Feet
5438 E Mercer Way, Mercer Island | NWMLS# 2393404 PENDING $4,999,900 | 5 Beds | 3.25 Baths | 3,750 Square Feet
41625 Undisclosed, Hunts Point | NWMLS# 2360420 $35,000,000 | 5 Beds | 5.25 Baths | 7,759 Square Feet
Undisclosed | Mercer Island | NWMLS# 2394016 $13,500,000 | 6 Beds | 4 Baths | 5,138 Square Feet
6413 Lake Washington Boulevard NE, Kirkland | NWMLS# 2342174 PENDING $8,999,000 | 5 Beds | 5.5 Baths | 4,090 Square Feet
5837 Ambleside Loop, Anacortes | NWMLS# 2345518 $4,995,000 | 3 Beds | 1.75 Baths | 2,068 Square Feet
