Seattle's most expensive home slashes price by $30 million
Seattle's most expensive home listing just slashed its asking price by $30 million. Developer Bruce Blume's waterfront Georgian mansion in the Denny-Blaine neighborhood dropped from $75 million to $45 million, according to the Puget Sound Business Journal. The cut underscores how even trophy Seattle properties are repricing as ultra-luxury buyers grow more selective.
Key Takeaways
- The Denny-Blaine estate is now listed at $45 million, down from $75 million.
- Owner Bruce Blume built the 12,000-square-foot home after buying the Lake Washington site in 2005.
- The mansion hosted Democratic fundraisers attended by President Barack Obama.
- King County assessors valued the 1.6-acre property at roughly $31.4 million.
- The price cut reflects broader softness at the top of the Pacific Northwest luxury market.
Which property is Seattle's most expensive home listing?
The listing is a Georgian-style waterfront mansion in Seattle's Denny-Blaine neighborhood, owned by Bruce Blume, founder of Blume Company Real Estate. Blume bought the site from the Canadian government in 2005 for nearly $7.8 million, demolished a 1928 Tudor manor, and completed the current residence in 2009.
When the home debuted at $75 million in August 2025, it ranked as the priciest residential listing in Seattle and the second-most expensive in Washington state, behind a $79 million Bellevue estate, as The Real Deal reported. The address remains withheld on public listing services.
Why did the asking price drop by $30 million?
The Puget Sound Business Journal reported the $30 million reduction as the property was relisted at $45 million in late June 2026. The estate had sat at the original $75 million ask for roughly ten months without a sale.
Extended time on market at the ultra-luxury tier often pushes sellers to reset expectations. With King County assessors valuing the property at roughly $31.4 million—well below either asking price—the gap between tax assessment and list price illustrates how trophy-home pricing can diverge sharply from local benchmarks.
What does the mansion include?
The nearly 12,000-square-foot residence sits on 1.6 acres with about 160 feet of private pebble beach on Lake Washington. It offers five bedrooms, 12 bathrooms, and 12 fireplaces spread across entertainment terraces, a dock, a lakeside garden pavilion, a swimming pool, and a spa.
Geothermal and solar systems power the estate. The Blumes hosted several Democratic fundraising events at the home, including gatherings attended by President Obama in 2012 and 2014. For more on how trophy properties are repricing across the country, browse our Luxury Real Estate & Dream Homes coverage.
What does this mean for Seattle luxury real estate?
Even at $45 million, the Blume estate remains far above King County's assessed value of roughly $31.4 million. That gap between ask and assessment is common at the ultra-luxury tier, where waterfront acreage, privacy, and provenance drive pricing beyond tax rolls.
Still, a $30 million public price cut on Seattle's top listing sends a clear signal. Buyers at this level have options across Lake Washington's Eastside enclaves, and sellers who want a deal are increasingly willing to move off headline-grabbing launch prices.