Million Dollar Homes in Seattle have TRIPLED in the last four years!
Seattle is now 14th in the nation with 7% of all homes selling for a million dollars or more! Seattle is now the 10th fastest metro area in the country for homes selling at or above $1,000,000. This is according to Trulia which released a report on May 19th.
The Seattle Times ran an article today sharing the obvious news with the public. Seattle's housing market is on fire. Million Dollar homes used to be in NYC or San Francisco, or L.A. Now they're here in Seattle; lots of them. Neighborhoods are transforming overnight causing many to wonder when they will be priced out of their homes that they have lived in for years.
With one of the hottest housing markets in North America Seattle seemingly is in the news every day for real estate. Multiple offers, waiving inspections, dogs and cats sleeping together (well ok, maybe not the last one) but the reality is the Seattle housing market is hot. The median price for a single-family home sold in Seattle in April was $637,250, up from $425,000 four years ago.(data from the Northwest Multiple Listing Service) The influx of high paying high tech jobs from companies like Amazon, Facebook, Microsoft, and others is causing the demand for housing to far exceed the inventory. This is impacting rental properties as well. Right now it is downright difficult to buy or rent a home in Seattle. We have written about the Seattle market in a previous post. Feel free to read the post here.
How long will this market last? At this time nobody knows. It certainly does not feel like this can go on forever. If you are looking to buy or sell a home in Seattle now, we can introduce you to an agent who will make the process run like a well oiled machine. Our referral partners KNOW Seattle, Bellevue, and Kirkland. Navigating this market with someone less informed is just a guarantee for frustration. Search all the homes for sale in Seattle and the Eastside here. When you're ready to start the home buying process call us. We will introduce you to the best agent to help you meet your goals.
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