Seattle is one of the most competitive real estate markets among the top metropolitan areas. The substantial market growth can largely be attributed to the thriving tech industry in Seattle. It is home to companies such as Microsoft, Amazon, Google, and Meta. The current market scenario: According to Zillow, the value of a typical home in Seattle was $705,103 in May. The value increased by 1.69% from the previous month but was down by 6.7% YoY. Like San Francisco, where prices fell considerably last year, Seattle is seeing MoM gains above the national average because of low inventory. New listings were down 22.8% from the previous year's value. Asking rent increased by 1.9% YoY to reach $2,240. What's happening: Data from Realtor.com indicates the median listing price has exceeded the median selling price since late 2022. However, the median selling price is now gradually increasing to align with the median listing price, primarily due to the significant rise in prices caused by the limited availability of housing inventory. What's up for sale:
This estate on Lake Washington, with an asking price of $26,500,000, features 200 feet of waterfront area, six bedrooms, and ten bathrooms. Each bedroom presents breathtaking views of the lake and mountains. Indoor amenities include a swimming pool, gym, and a rec room, while the outdoors offers a covered, heated loggia for grilling, terraces, a cabana, and a dock. |
