With the release of the Realogics Sotheby's International Realty 2016/2017 Market Report, it is clear to see that real estate in the Seattle metro area will only continue to be in high demand. Within the last two years, the inventory of housing for sale in Western Washington State has completed a large bell-shaped curve, returning to degrees of shortage not seen since the year 2005. Most notably impacted are King, Pierce, and Snohomish counties; as this region of central Puget Sound has remained a seller's market since January 2015, with inventories in most areas remaining below four months for nearly the entire year.
One area that has continued to reign supreme has been Magnolia and Queen Anne. This district has had a 13.2 percent year-over-year increase in median sale prices. Median prices went from $785,000 to $893,000 from 2015 to 2016. With Amazon offices being close-by, and the impending move from Expedia's headquarters into the Interbay waterfront area, these neighborhoods continue to be in high-demand and saw prices rising steadily despite market size limitations. Median days on the market are sitting at about 11 days - one of the lowest in the entire metropolitan area.
Another huge draw is The Center School, one of the top-rated public high schools in Washington. That, coupled with easy access to central downtown, nearby public parks, multiple options for grocery stores, restaurants, specialty boutiques, and several bus lines keep this area one of the most desirable for busy families.
SOLD in Seward Park for $990,000
SOLD in Madison Park for $480,000