Housing demand leads to a first for Seattle neighborhood
Jul 7, 2017, 8:54 AM | Updated: 2:40 pm
The median home price in Queen Anne is now $1 million. (AP)
(AP)
The median home price in Seattle’s Queen Anne neighborhood is now about $1 million.
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A typical home in Queen Anne sold for just over $1 million in June, according to The Seattle Times, citing the Northwest Multiple Listing Service. That’s an 11.3 percent increase from just a month earlier when Queen Anne homes were selling for $900,000.
Seattle and the Eastside both continue to set records. Median home prices in Seattle hit $750,000 dollars last month, up $21,000 from the month before.
Eastside home prices hit a record $885,000 last month.
Prices also rose for King County on the whole, with the average home now going for $653,000.
According to the Multiple Listing Service, the core areas are still “hot,” but outlying areas are cooling off for the “typical summer slowdown.” Northwest MLS director George Moorhead reports some cooling off in the luxury market, saying they may be reaching a plateau.
“Strong job growth, price appreciation, and low interest rates continue to fuel the Puget Sound housing market,” said J. Lennox Scott, chairman and CEO of John L. Scott.
