Realogics Sotheby's International Realty to Host Bainbridge Island Waterfront Home Tour on July 19th; Showcases Mainland Alternative

Research Highlights “Rising Tides” as Waterfront Median Home Prices Soar, Inventory Sinks

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend
We are very pleased to host this exciting event and showcase our beautiful island lifestyle, says Marilyn Turner, Branch Manager of Realogics Sotheby's International Realty Bainbridge Island.

Bainbridge Island, WA (PRWEB) July 17, 2014

Realogics Sotheby’s International Realty (RSIR.com), the Pacific Northwest’s largest affiliate for the global real estate network, announced today their “Rising Tides” Waterfront Home Tour on Bainbridge Island departing Eagle Harbor at 12:30pm and returning at 4:30pm on Saturday, July 19th. The program targets prospective homebuyers, would-be sellers and mainland brokers that want to better understand the state of this dynamic niche submarket. Tickets are available for just $49 per person (limited seating) with sponsorship offered by Cobalt Mortgage – the preferred lender for Realogics Sotheby’s International Realty.

“We are very pleased to host this exciting event and showcase our beautiful island lifestyle,” says Marilyn Turner, Branch Manager of Bainbridge Island for Realogics Sotheby’s International Realty. “We hope to unite buyers and sellers as we expose our waterfront as an attractive alternative to living on the mainland and to demonstrate our relative value despite the upward trending on pricing.”

Turner says the median home price of waterfront homes sold on Bainbridge Island has doubled from $661,000 in 2011 to $1,332,004 in 2014 when analyzing the differences for the first six months year-over-year. Meanwhile, relatively stable demand of 34 waterfront home sales on average for each half year points to the rather anemic supply of just 36 homes currently listed for sale.

“There’s little doubt that the supply and demand imbalance is creating upward pressure on values,” adds Turner. “This creates an encouraging environment for would-be sellers to consider listing their homes with us, especially when we are observing an increase both interstate and international activity here on Bainbridge Island. The market is heating up and summer sales season is upon us.”

By example, a recent article in The Collection magazine published by Realogics Sotheby’s International Realty cites a listing known as Serenity on Eagle Harbor as being highly desirable to maritime-oriented Californian consumers seeking a summertime refuge from the Proposition 30 income tax measure that has made the “Golden State” the most taxed consumer environment in the United States. Conversely, Washington State has no state income tax so brokers note Californians establishing residency in the aptly-named “Evergreen State”, allowing some buyers to build equity in local real estate instead of paying California income taxes.

About Realogics Sotheby’s International Realty (http://www.RSIR.com) - Artfully uniting extraordinary homes with extraordinary lives, Realogics Sotheby’s International Realty is a leading global sales and marketing brokerage firm in the Pacific Northwest. Recognized by the Puget Sound Business Journal amongst the fastest-growing private companies in Washington State for 2012 and 2013, the boutique real estate firm of 100+ brokers and employees consistently ranks among the top producing offices within the markets that it serves.


Contact