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

Windermere Real Estate Mount Baker:

Windermere Real Estate recently released its Seattle real estate statistics for the second quarter of 2017, and we’ve got your South Seattle numbers below.

But first, it was another month of record-setting home prices in June as the area yet again took the prize for the hottest real estate market in the country. In a bright spot for buyers, the number of new listings added in June was the highest total for any single month since May 2008. While inventory is still low, the pace of sales is slowing and the number of multiple offers are down, suggesting that we may soon see a slight reprieve from the last year of rapid-fire growth.

“Towards the end of the summer we saw a slight increase in inventory coinciding with a slight drop off of demand, though this is not uncommon in August,” said Joe Easterday, Designated Broker/Owner at Windermere Real Estate Mount Baker. “There continues to be strong demand for our South Seattle communities and hopefully the trend of new listings continues into the fall.”

The median price of single-family home in the Seattle area increased 13 percent from a year ago to a new record high of $750,000. Despite that increase, multiple offers–while down–are still common. With most buyers presenting offers on multiple properties before purchasing a home, working with a broker to create a strong strategic plan, clear negotiating parameters, and a streamlined offer are critical for success.

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

In the meantime, click here for the entire Q2 Seattle Market Review.

High Price Listing

• Mt Baker
• 3204 36th Ave S
• $1,550,000
• 4 Bed / 3.25 Bath / 3,495 SQFT
• MLS #: 1130726
• Lot Size: 4,080 sqft
• Year Built: 2017
• Style: Multi Level
• Views: Territorial
• School District: Seattle

Medium Price Listing

• Columbia City
• 3924 S. Ferdinand St.
• $712,000
• 3 Bed / 1.75 Bath / 1,660 SQFT
• MLS #: 1125743
• Lot Size: 4,950 sqft
• Year Built: 1920
• Style: 1 Story with Basement
• Views: Territorial
• School District: Seattle

Low Price Listing

• Upper Rainier Beach
• 10308 55th Ave. S.
• $506,500
• 4 Bed / 1.75 Bath / 1,760 SQFT
• MLS #: 1126015
• Lot Size: 10,488 sqft
• Year Built: 1952
• Style: 1 Story with Basement
• Views: Territorial
• School District: Seattle

My office, Windermere Mount Baker first opened its doors in 1979 and has been a market leader ever since. We are proud to be the only major real estate company with a local neighborhood office in South Seattle. Follow us on Facebook, Instagram and Twitter.