Famous houseboat on Seattle's Lake Union sells for record-breaking amount

The Aurora is a celebrity (literally and figuratively) houseboat that, in keeping with its newsworthy reputation, recently sold for $3.6 million — a record sale price for a this type of home in Seattle.

In fairness, the home at 907 N. Northlake Way isn't your average houseboat — it's really more of a mansionboat. Its 4,850-square-foot diameter is spread across three stories.

It's important to understand that a houseboat is not the same thing as a floating home. A houseboat is, or was at one point, a vessel, and the word "boat" means it has capacity for propulsion. A floating home, on the other hand, is not capable of propulsion and rests on some form of foundation.

The Aurora is unlike most houseboats in Seattle. Her size alone makes her unique, but there's also her style. Its design was inspired by California's historic Gamble House, and craftsman details include wood paneling and floors, built-ins and double-hung windows.

The home also offers a huge kitchen, a theater and wet bar, an opulent primary suite and multiple outdoor areas for lounging while taking in the view of Lake Union. 

Such a home is bound to draw attention, and the Aurora has had plenty. It was featured on "Massive Moves," a television show in which a team of movers attempt to relocate entire structures in a set amount of time. The episode that featured the Aurora documented the transportation of this massive home to its current Fremont Dock location.

At one point, Hollywood A-listers Mila Kunis and Ashton Kutcher enjoyed their wedding anniversary within its floating walls.

So far, 2022 has been an explosive year for such homes in Seattle. Listing agent Jay Kipp and his colleague Danny Varona — both work for Realogics Sotheby’s International Realty — reported last month that demand for water-based homes reached record levels amidst an "unprecedented number" of sales in 2021.  

That year saw 39 on-the-water homes (floating homes or houseboats) trade hands. This number is up from 33 such homes in 2020, and double that of 2019. This "unprecedented uptick" is in line with the national Great Reshuffling, "a direct result of the Pandemic, [driven by] flexible work-from-home policies, social isolation and travel restrictions among other factors," according to report by Kipp and Varona.  

A corresponding uptick in prices for these homes is inevitable. In 2021, bidding wars ended with 34% of floating homes and houseboats selling over asking price. Those overbids resulted in an average price escalation of 16%. By comparison, only 8% of such homes sold for over their list price in 2020, resulting in an average price increase of 8% for such homes.  

It should be noted that though the sale price of $3.6 million is one of the highest prices for a floating home yet recorded in the Seattle metro, it is still an underbid from the original sales price, which was $3.750 million.  All the same, it's a new record: The previous record price for a Seattle metro houseboat was $2 million.

It looks like the dream of an inexpensive life lived floating on Lake Union is a ship that's already sailed. 

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert.