Windermere Real Estate recently released its Seattle real estate statistics for the third quarter of 2017, and we’ve got your South Seattle numbers below.
But first, the typical seasonal slowdown of new listings in September added to frustration for buyers who are competing for a very limited number of homes.
“The scorching hot market of the spring has settled into just a hot market, and a little let up is welcome by all,” says Joe Easterday, Designated Broker/Owner at Windermere Real Estate Mount Baker.
Strong job growth continues to fuel demand. The state added 83,000 new jobs in the month of August, and September looked to be just as robust. The result? King, Pierce and Snohomish counties all reported double-digit price increases from a year earlier.
Seattle Seattle’s inventory remains as tight as ever, with homes being snapped up in days. A big hiring push by local employers just keeps adding to the pressure. With supply dwindling and demand soaring, prices had only one place to go — up. In September, the median single-family home price in Seattle soared 15% over a year ago to $725,000.
King County The median price of a single-family home sold in King County in September increased 16% over a year ago to $625,000. While down from the record high of $658,000 in July, it represents the highest value for any September since records began in 2000. Among the largest metro areas in the U.S., our region has now led the nation in cost increases for the last 11 months.
Below, we’ll focus on the South Seattle neighborhoods of Brighton, Columbia City, Genesee, Hillman City, Judkins, Lakewood, Leschi, Mt Baker, Rainier Beach, Rainier Valley, Seward Park and Skyway, as well as Beacon Hill, Columbia City, Dunlap, Georgetown, Jefferson Park, North Beacon Hill, and SODO.
In the meantime, click here for the entire Q3 Seattle Market Review.
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