When it comes to real estate, the Seattle-Area isn’t quite the Bay Area yet, but it isn’t exactly the quiet Northwest corner it used to be either. The boom in housing prices has been felt by everyone but in the luxury market it seems to be creating an entirely-new subsection of uber-wealthy buyers and multi-million dollar property demand.
Windermere is stepping up to meet the demands of the market by launching W Collection, a new ultra-luxury brand specifically designed for homes priced at $3 million and above in Western Washington.
Over the past five years there has been a significant increase in the number of home sales in the $3 million+ market,” said OB Jacobi, President of Windermere Real Estate. “In 2011 there were only 45 such sales in King County, while in 2015 there were 131. “Windermere agents represent anywhere from 40-60 percent of the $3 million+ sales in the Seattle area, so we felt we were in the ideal position to build a brand that could provide enhanced marketing support to the growing number of ultra-luxury homes,” said Jacobi.
Jacobi added that Windermere currently represents more than 55 homes that fit the W Collection worth and that number is on the rise. Also on the rise is the number of people who can afford these homes. Households with incomes above $150,000 went up 52 percent between 2010 and 2016 and are expected to grow another 34.6 percent by 2021.
So what does a seller get when they’re part of W Collection? Their home will feature the signature signage and presentation materials Windermere hopes will become synonymous with luxury real estate. They’ll also receive specialized advertising opportunities and connections to every aspect of the luxury industry. As W Collection’s creative director Leigh Canlis told PSBJ, “It is like the American Express Black Card of real estate.”
To get a sense of the kind of homes that are listed under the W Collection brand, they include the Queen Anne South Slope home that was once the most expensive listing in Seattle as well as the $17.8M Blaine compound we featured a few months back.
- Windermere Launches New Ultra-Luxury Brand: W Collection [Windermere]
- Windermere's ultra luxury W Collection brand and website officially launches [PSBJ]
- W By Windermere [WBW]
- Queen Anne South Slope home [Windermere]
- $17.8M Blaine compound [Windermere]
- Private Blaine compound on Georgia Strait lists for $17.8M [CS]