South Seattle Market Review: Highs, Lows & In-Betweens (Part 1)

Windermere Real Estate recently released its Seattle real estate statistics for the fourth quarter of 2016, and I’ve got your South Seattle numbers below.

In the meantime, Seattle as a whole closed out the year with a record low number of homes for sale, and record-level prices. With the healthy regional economy, demand remains very strong. Experts predict that the real estate market in 2017 will continue to be highly favorable for sellers.

• According to the Case-Shiller home price index, home prices are rising faster in the Seattle metro area than in any other major region in the country. One issue is space. The city’s existing density means that virtually no new single-family homes are being built in Seattle.
• As new residents flood in, more people are competing for the already tight inventory. As a result, home prices are up. At the end of the quarter, the median cost of a single-family home rose 6 percent from  a year ago to $635,000.
• The good news: those who decide to take the plunge and list their home can count on getting a premium price for their property.  In December, 39% of houses that sold went above the asking price  and 57% had less than 15 days on the market.

Today, we’re focusing 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, where we’re seeing a range of $385,000 in Upper Rainier Beach to $1,395,000 in Mount Baker — quite a difference.

Next week, look for a similar review of Beacon Hill, Columbia City, Dunlap, Georgetown, Jefferson Park, North Beacon Hill and SODO.

The high price winner is in Mount Baker at $1,395,000.

High Price Listing

• Mt Baker
• 3210 S Lander St
• $1,395,000
• 3 Bed / 2.5 Bath
• 3,380 SQFT
• MLS #: 1036134
• Lot Size: 6,000 sqft
• Year Built: 1929
• Style: 1 1/2 Stories with Basement
• Views: None
• School District: Seattle

The medium price winner is in Columbia City at $560,000.

Medium Price Listing

• Columbia City
• 5402 Renton Ave S
• $560,000
• 3 Bed / 1.75 Bath
• 1,292 SQFT
• MLS #: 1031182
• Lot Size: 5,871 sqft
• Year Built: 1962
• Style: 1 Story
• Views: Territorial
• School District: Seattle

The low price winner is in Upper Rainier Beach at $385,000.

Low Price Listing

• Upper Rainier Beach
• 9849 61st Ave S
• $385,000
• 2 Bed / 1 BatH
• 1,520 SQFT
• Lot Size: 5,650 sqft
• Year Built: 1943
• Style: 1 Story with Basement
• Views: Mountain, Territorial
• School District: Seattle