North Seattle
Single-family home selling volume reached $1.04 billion in North Seattle, at a median selling price of $776,000, 14.1 percent higher than the 2016 annual median price of $680,000.
The number of single-family home sales in North Seattle was 5.5 percent lower in 2017, to 1,174 from 1,242 in 2016. Fourth-quarter transactions were down sharply—by more than 20 percent year over year, to 279 from 351. However, this was just a correction from outsized sales in 2016 Q4; 2017 Q4 sales were almost equal to the number of sales in 2015 Q4 (to 279 from 280, respectively).
Median cumulative days on market were almost as steady as in neighboring Ballard and Green Lake, not exceeding eight days during any quarter of 2017. Bidding on homes for sale drove selling prices in North Seattle higher at all thresholds, with premiums to the listing price reaching double digits at the 25th, 50th, and 75th price percentiles in this market.
North Seattle’s quarterly single-family home price gains in 2017 were strongest at the 50th and 25th percentiles. Home prices at the latter bound, the top end for entry-level buyers, were up by 5.4 percent in the first quarter year over year, 18.8 percent in the second, 24.7 in the third, and 9.8 percent year over year in the fourth quarter.
Although dollar selling volume in North Seattle is substantially lower than in Ballard and Green Lake, homes sold in both areas were priced similarly on the basis of bedroom counts. Three-, four-, and five-bedroom homes sold at prices equal to those in Ballard; but buyers of two-bedroom homes in North Seattle paid 6.9 percent less.
2017 AT A GLANCE
Median Home Price:
$776,000
Home Sale Volume:
$1.04 Billion