Floating Home Market August 2018 Update

It has been an unusual year for floating homes and houseboats! While we’ve had a strong year for listings with 47 so far (though it was a slow start), only 12 have sold. However, in the last week we’ve seen a handful go pending so we now have 7 pending. Some notable recent activity:

• A $2.75m end of dock home that needs remodeling in Eastlake had two offers
• A $900k home next to shore in Eastlake had two offers
• A $600k starter floating home in Eastlake will likely have multiple offers

Typically we see that floating homes are overpriced and take much longer to sell as compared to regular homes but as summer winds down I expect we’ll start to see more price reductions as sellers acknowledge if they don’t sell by end of September, the chances of them selling this year will be slim.

Some of my faves on the market right now would be:

• The home we used to rent, I’m surprised it hasn’t sold yet
• The new listing at Ward’s Cove, the first listing there in a few years. Plus it has a dumb waiter, wine cellar, and enough solar power you could live off the gride
• The $3.5m home at Fairview Landing
• The $2m brand new home in Portage Bay that has been on the market for nearly six months

From talking to other agents in the community, sounds like we’ll see a few more hit the market over the next month or so, but not a ton.

(The photo is of Fairview Landing, taken today from a scissor lift 31 feet in the air.)