The Seattle Times just published another article about housing costs in the Seattle market.
I have attached the link and especially found the interactive pricing map informative. With the average home price in Seattle and the suburbs continuing to grow at a record pace, this article points out neighborhood by neighborhood where the AVERAGE price of a home or in some neighborhoods a building lot is $1 million dollars and more.
Seattle housing is in the news a lot lately due to having one of the highest increases in housing costs in the country with record yearly growth and limited inventory. In certain areas, a large number of homes are also sold to foreign investors placing all cash offers to purchase. Currently, 40% of all homes in the Seattle area are listed for $1 million dollars or more. The median time a home is on the market is 7 day with 62% of all listed homes exceeding the asking price.
Housing continues to be the number one concern of my client families especially when pairing with their desired public school district and specific school. I partner with several realtors to assist their clients with school information to help the family not only find the right fit school, but right fit house within their budget. Unfortunately, more and more I see families having to give a bit on their desired commute time to meet their school and housing goals.