Southeast Seattle
As in Downtown Seattle, statistics in smaller areas like Southeast Seattle can be moved by projects or localized surges in sales. In 2017, the number of first-quarter single-family home sales in Southeast Seattle was up by 70 percent year over year (163 in 2017 Q1 vs 96 in 2016 Q1, a lackluster quarter). Sales had smoothed out by the end of 2017, which ended with 13.2 percent more sales than 2016 (762 to 673).
The median cumulative days on market in 2017 reached even in the second quarter, but remained at nine or ten for the rest of the year-still a very fast-moving market highly fa-voring sellers. This was confirmed by selling prices that were consistently higher than listed prices in this area.
The 2017 median single-family home price in Southeast Seattle was $613,875−a year -over-year increase of 20 percent, the fastest growth rate in the city. Selling volume rose at an even higher rate, by 32.2 percent (from $398.1 billion to $526.3 billion). This was due to a number of high end sales combined with price increases across all bands. The 25th- and 50th- percentile prices grew by double digits year over year in the second, third and fourth quarters of 2017. Fourth-quarter prices exceeded those of 2016 by more than 24 percent at every threshold, and by 43.9 percent at the 95th-percentile price.
Even as prices in Southeast Seattle rocket higher, according to bedroom counts, single-family homes are still a bargain here. Compared with those in Central Seattle, three-, four-, and five-bedroom homes in Southeast Seattle are respectively 28.3 percent, 44.8 percent, and 56.5 percent less expensive.
2017 AT A GLANCE
Median Home Price:
$613,875
Home Sale Volume:
$526.3 Billion