For you newcomers, here is a primer to the Olympic Peninsula or the west side of Puget Sound in the State of Washington. It is made up of four counties. Beginning in the south near Olympia is Thurston County. In the middle is Mason County up against the Olympic National Park and Kitsap County to the east across from Tacoma with Jefferson to the North.
In terms of the Olympic Peninsula, Mason County is small and underdeveloped by Puget Sound standards, unlike of Northeastern brother Kitsap County. Mason County however has the bulk of the saltwater properties. Between our Islands, bays and the canal, there are 5600 Puget Sound waterfront properties. 400 of them are owned by the government or corporations while another 1280 are vacant. That leaves a whopping 3920 properties owned by either individuals or trusts. If you will excuse the pun, that is a lot.
As of today, May 20, 2021, it is interesting to note the average sales price of waterfront in Mason County is only $417,267 compared to $931,696 in Kitsap. Thurston is close to $600,000 while Jefferson is $517,000. Why the disparity?
Two counties are easy to explain. Kitsap County is well-developed and connected by bridge to Tacoma’s population. Also filled with Home Depots and Whole Food stores is Thurston County, on the I-5 corridor with Seattle, Tacoma and the connection between Oregon and Canada. If relativity to services is the explanation, what about Jefferson County? By car, it’s a couple of hours from civilization but it does have a freeway. Not so Mason County. Mason is 15 minutes from the Bremerton Ferry to Seattle, yet sale prices have remained in 4th place.
It is not for the lack of trying. Average sales prices for Mason County waterfront property is up 20.7% from $345,700 this time last year. Some of the calmest, most protected saltwater property in the world remains the best value on the Puget Sound. Come take a look.