Lake Sammamish, located in the heart of Eastside King County, is one of Washington's premier real estate markets. Linking together four of the region's most desirable destinations in Sammamish, Issaquah, Bellevue, and Redmond, the area is known for its luxury waterfront homes and proximity to Seattle's booming tech industry.
With its hyper-unique blend of aesthetics, including suburban chic, high-tech urban, and rustic-rural sophistication, the area attracts a range of buyers—from local professionals to out-of-state transplants to international investors. As we head into 2025, Lake Sammamish's real estate market is expected to remain competitive, with several key trends that buyers and sellers should know.
Current Market Overview
The market surrounding Lake Sammamish is maintaining its competitive streak despite economic uncertainty elsewhere across the country. This proves especially true in areas such as Bellevue and Sammamish.
According to recent data,
median single-family home prices in Sammamish closed August 2024 at
$1.8 million, with premier waterfront properties fetching considerably more. In Bellevue,
prices are slightly higher, with August 2024 median sales value at
$1.88 million.
These figures reflect steady growth in the area, with Bellevue seeing a 13% jump in home prices year over year and Sammamish showing a 7% price increase year over year. This indicates that the demand for Eastside homes, specifically those around Lake Sammamish, remains strong.
However, the market is slightly cooling, with homes spending more time on the market than in previous years. For its part, the Issaquah median sales price is $1.45 million, down nearly 10% year over year, reflecting the fact that some markets may start the New Year on a downward trend.
Pricing Trends
Heading into 2025, housing prices on Lake Sammamish are expected to continue appreciating, though slower than in the peak years of 2022 and 2023. While high-end homes near the lake hold their value well, the broader real estate market in the Eastside is showing signs of stabilization. Forecasts suggest a 3% to 6% increase in home values for 2025, as demand remains high across the Eastside.
Waterfront properties on Lake Sammamish remain among the region's most desirable properties, with direct lake access homes in enclaves such as Mint Grove often selling at premiums from $5 million to more than $10 million. Other hot properties include Redmond-based condos, including a cluster of notable high-end properties in the city's Idylwood neighborhood. Here, condo prices have increased 83% year over year, with the combination of beautiful views, easy access to outdoor activities, and proximity to Redmond and Bellevue keeps demand exceptionally high.
Market Conditions
Despite the competitive nature of the Lake Sammamish area, there are indications of a potential shift toward a more buyer-friendly market in late 2024 and into 2025. Increased inventory—driven partly by new developments in Sammamish and Issaquah—is expected to provide buyers with more options. Currently, the area maintains a 1.9-month supply of available homes, which, while still low, is improving from the more severe inventory shortages seen during the pandemic years.
Interest rates are also a key factor. According to industry forecasts, mortgage rates are expected to decline to 5.7% by the end of 2025, which means more buyers are likely to enter the market. Such a prospect could also bring more sellers to the market, enticing a new round of buyer activity.
Forecast for 2025
Lake Sammamish's real estate market is projected to remain strong, with price appreciation expected to moderate. Buyers should find more opportunities as inventory slowly increases, but competition for prime waterfront properties will remain fierce. Sammamish and Issaquah should experience continued growth as new developments bring more homes to the market, while Bellevue's luxury sector should remain resilient, particularly with Amazon's ongoing expansion.
2025 should see Lake Sammamish maintain its position as one of Eastside's most sought-after markets, with steady but slower price appreciation, more inventory, and slightly improved conditions for buyers as mortgage rates stabilize.
Key Takeaways for 2025
Waterfront properties on Lake Sammamish will continue to be in high demand, with premium prices driven by limited supply.
Sammamish and Bellevue will remain at the forefront of luxury real estate on the Eastside, with Redmond not far behind. Issaquah, however, remains an under-the-radar gem, offering more affordable yet no less spectacular residential options.
Price appreciation will be moderate, but growth will remain steady in the 3% to 6% range, particularly for luxury properties.
Buyers can expect more inventory in 2025, but prime properties will still see the most competition, especially as mortgage rates decline.
Lake Sammamish remains a highly sought-after market, with opportunities for buyers and sellers to capitalize on the area's enduring appeal and strong economic fundamentals.
Ready to discover even more about Lake Sammamish?
If you're interested in learning more about the Lake Sammamish lifestyle, including exploring the Eastside's celebrated luxury real estate market? Contact five-star real estate broker
Margo Allan today to start your real estate journey. Whether a stunning architectural gem overlooking the lake or an opulence residence in nearby Bellevue or Redmond, all allow Margo's intimate knowledge and unparalleled local expertise to be your guide to the best of what the Lake Sammamish luxury real estate market has to offer.
