Monday, February 16, 2015
Most Affordable Seattle Neighborhood
The current issue of Seattle magazine lists Upper Rainier Beach among the most affordable of neighborhoods in Seattle, with potential views of Lake Washington and easy access to downtown via freeways, arterials, public transit, and light rail. Upper Rainier Beach is in the 98118 zip code, which I have blogged about before.
Homes selling in Rainier Beach are trending upwards month over month and year over year. Trending data is indicating a year over year increase in the median value of homes sold based on $ Price per Square Foot, up 8.3% over last year and 21.4% over last month. Since the number of sales has decreased and inventory is still low, this is pushing prices up. The median price for homes actively on the market (as of this report) is sitting at around $334,000.
This information changes quickly and can swing based on property inventory and affordability which is based on interest rates. If we see interest rates go up affordability will go down and home prices could flatten or possibly decline.
Being aware of what your home could sell for is the first step in deciding if you should sell. Learn more now, before you decide on a real estate professional. Complete the form on the right and we will help you understand what your home might sell for if you were to put it on the market.
If you are interested in selling a Rainier Beach house, please go to GetMyRainierBeachHomeValue.com