2017 Year End Seattle-Eastside Residential Real Estate Report

Windermere Mercer Island

2017 SEATTLE YEAR END REVIEW

Seattle area real estate paid off big yet again in 2017 with a 14.1% median price increase to $708,000. In fact, over the past five years, prices are up 58.7%. A Seattle house that was $446,000 in 2013 would sell for a whopping $708,000 today, or $262,000 more.

Seattle Report

Grappling with gridlock and buyer push-back over steeply escalating prices, Seattle saw the strongest price growth in neighborhoods further from the downtown core—namely South Seattle, Shoreline, and West Seattle. These more affordable regions offered home buyers more for their money than many of the core in-city hoods…although the quaint, inviting homes with signature “Seattle Charm” are pretty hard to pass up.

Click here to view the complete report for a neighborhood by neighborhood breakdown of Average Sale Price, size, and number of homes sold.

 

 

2017 EASTSIDE YEAR END REVIEW

Median price appreciation on the Eastside fared even better than Seattle with year-over-year prices up 15.2% to $868,000. Over the past five years, prices are up 54.8%.

Eastside Review

The entire Eastside—comprised primarily of the cities of Bellevue, Medina, Clyde Hill, Yarrow Point, Hunts Point, Kirkland, Issaquah, Redmond, Sammamish, Woodinville, Carnation and Duvall—grew at a frenzied pace as buyers competed for fewer and fewer homes in Seattle’s newer and more spacious neighboring Eastside region. Those communities closest to the metro core and I-90/520 arterials fared best but homeowners in more remote Eastside neighborhoods are hardly complaining.

Click here for the full report and neighborhood-by-neighborhood statistics!

 

 

2017 MERCER ISLAND YEAR END REVIEW

The median sale price on Mercer Island increased 17.1% (to $1,546,000) over 2016. Lack of available housing was the biggest contributor in driving prices up in this often-coveted island community nestled in the heart of the metro region between Seattle and Bellevue.

Mercer Island Report

New residential development regulations implemented in November impacted the size and placement of new construction and remodeled homes. Given the current buyer demand in the Mercer Island market, the new restrictions generally only affected values where total building size was significantly diminished.

Click here to view the complete report for a neighborhood by neighborhood breakdown of Average Sale Price, size, and number of homes sold.

 

 

© Copyright 2018, Windermere Real Estate/Mercer Island. Information and statistics derived from Northwest Multiple Listing Service and deemed accurate but not guaranteed.

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