The most expensive home listing in Seattle just took a massive price cut, slashing its asking price by 40% to $45 million after it was originally listed for $75 million roughly one year ago.
Linked to developer Bruce Blume, the estate is located at 128 E. Lake Washington Blvd. in Seattle’s Denny-Blaine neighborhood.
The 12,000-square-foot mansion sits on the Lake Washington waterfront and includes a plethora of amenities, including 12 fireplaces, an outdoor pool, spa, and private dock, among several other features, according to The Puget Sound Business Journal.
The five-bedroom, 12-bathroom home with 160 feet of Lake Washington waterfront also includes geothermal and photovoltaic systems designed to improve the residence’s energy efficiency.
Price drop reflects a common strategy in high-end home sales, expert says
Owner of Realogics Sotheby’s International Realty, Dean Jones, noted that initial asking prices are often used to gauge market conditions before being revised to better reflect buyer demand.
“Sometimes the aspirational prices are successful,” Jones told The Puget Sound Business Journal. “Other times, they generate headlines, but no offers. Then you start the process of resetting and reintroducing the property. It’s not uncommon for a property with aspirational pricing to attract a buyer, but then those buyers start looking at other properties in the area.”
Despite the drastic price cut, the Seattle estate still ranks as the second-most expensive home in Washington, trailing behind the Olson Kundig-designed residence in Bellevue, which has seen a similar price dip from $79 million down to $65 million.
Jones remained firm in his belief that the luxury real estate market continues to gain momentum.
King County’s inventory of homes priced at more than $5 million had increased 24% year over year in the second quarter of 2026, according to a Realogics report obtained by The Puget Sound Business Journal. Pending home sales also jumped 333% in June compared to June last year, while waterfront sales volume spiked 600%.
This story was originally posted on MyNorthwest.com
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