It appears as if the Seattle real estate market has no indication of slowing down, after opening 2018 hotter than before. In King County, 2017 featured the highest home prices in history and prices surged another 20 percent in January this year compared with the same month in 2017. It’s now been 15 months straight that Seattle has led the nation as the hottest housing market.
The heat in the local housing market certainly shows in the numbers for January’s residential home sales. In 2017, a total of 281 single-family residential homes were listed. Although 30 fewer homes were listed in January 2018, the average sale price was $789,000 - more than $80,000 higher than the average sale price in January last year: $706,500. The top home price in January 2017 was $3,150,000 (followed by a second-top price of $2,800,000), while the leading home sale price last month was $2,864,150.
Condominium sale prices were comparatively lower year over year in January. Last month, there were 90 condos listed, while 125 were listed in the same month of 2017. The average sale price was $491,330 in January 2018, up $41,000 from the average condo sold in January last year at $450,000. In January 2017, the top sold condo was priced at $4,000,000, followed by a couple more high-priced condos to beat last month’s highest condo sale price of $2,350,000.
In Seattle, there are currently a total of 313 active listings and 492 listings that are pending sale.
With such a highly competitive market, professional knowledge and guidance is crucial when you’re looking for your new home in Seattle. Our team of experienced, customer-focused brokers and leasing agents can help you navigate the process and find your next dream home. Contact us to get started!
This data is pulled from the NWMLS including neighborhoods Arboretum, Ballard, Beacon Hill, Belltown, Belvedere Terrace, Bitter Lake, Blue Ridge, Broadmoor, Broadview, Broadway, Capitol Hill, Cedar Park, Central Area, Columbia City, Crown Hill, Denny Blaine, Downtown, Dunlap, East Union, Eastlake, First Hill, Fort Lawton, Fremont, Georgetown, Green Lake, Greenwood, Haller Lake, Hawthorne Hills, Interbay, International District, Iverness, Jackson Park, Jefferson Park, Judkins, Lake City, Lake Union, Laurelhurst, Leschi, Licton Springs, Loyal Heights, Madison Park, Madison Valley, Madrona, Magnolia, Magnolia Bluff, Maple Leaf, Matthews Beach, Meadowbrook, Montlake, N. Beacon Hill, North Beach, North Capitol Hill, Northgate, Olympic Hills, Olympic Manor, Phinney Ridge, Pinehurst, Pioneer Square, Portage Bay, Queen Anne, Ravenna, Roanoke Park, Roosevelt, Safeco Field, Sand Point, Seattle, Sodo, South Lake Union, Sunset Hill, The Highlands, Times Square, University District, Victory Heights, View Ridge, Wallingford, Washington Park, Wedgwood, Westlake, Whittier, Windermere, and Woodland Park.