1)Kirkland/Redmond with 911 residential resale transactions
2) West Seattle at 765
3) Bellevue with 732
4) South Seattle with 711
5) Kent with 673
Adding together the Seattle neighborhoods of Ballard (49), Capitol Hill (38),Leschi and Madrona (118), Green Lake/ U District (645),Madison Park (140), Magnolia(164), Mt Baker (157), Northgate (193), Queen Anne (142), South Seattle and West Seattle yields a total of 3122 transactions. This makes the City of Seattle the greatest in terms of numbers, but breaking the stats down by neighborhood allows us to see which areas of Seattle are most active. Seattle represents 29% of all residential sales in King County in the first half of 2014.
In terms of median prices for house sales in the first half of 2014, the top 5 areas in King County are:
1) Mercer Island at $1,100,000
2) Madison Park at $904,300
3) Capitol Hill at $813,750
4) Queen Anne at 795,000
5) Magnolia at $695,000
All of these areas were well above the King County median house price of $420,000.
The 10 least expensive places to buy a single family house in King County in 2014, based on median house prices, were:
1) East County at $200,000
2) Seatac at $224,500
3) Auburn at $233,489
4) Federal Way at $245,000
5) Normandy Park at $255,600
6) South Seattle at $256,000
7) Milton at $257,500
8) Kent at $259,500
9) Enumclaw at $260,000
10)Tukwila/Burien at $265,500
These areas have seen a 13% average appreciation in price compared to the same period in 2013; while King County as a whole has appreciated an average of 6%. The trend is clear, that as house prices increase, home buyers and investors look for value in less expensive areas of King County.
Happy Investing!
*Data from Data Data Inc.
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