|Last Quarter||2.61%||Rank:||93 of 381||(75th Percentile)|
|Last Year||9.8%||Rank:||43 of 381||(88th Percentile)|
|Last 5 Years||9%||Rank:||86 of 381||(77th Percentile)|
No matter if you’re looking to move to Seattle from across the country of another area of Washington, learning about the real estate market is essential. For example, it’s important to note that the median sales price for an average home as of between the months of June 15 to September 15 was 500,000. Compared to the previous quarter’s numbers, this is representative of a 4% increase, or $19,400. In comparison to the previous year, this is an 11.1% increase.
Home Appreciation & Sales:
According to FortuneBuilders.com, “Homes purchased in the Seattle housing market five years ago have appreciated by an average of $61,898, whereas the national average was $49,675 over the same period.” Over the previous five years, homes in Seattle have experienced a 28.2% increase in their appreciation.
This means that consumers could find listings, on average, in Seattle for $622,722 when researching homes during the week ending September 2nd, which is representative of a 0.3% increase, equal to $1,990, in comparison to the previous week. This is also a 0.3% increase, which is equal to $1,955 in comparison to the week ending, August 12th.
Population, Income and Demographics:
According to the United States Census Bureau, the estimated population for Seattle is 668,342. The per capita income for one year between the years of 2009 and 2013 was $43,237, and the median income per household for those same years averaged $65,277. According to Seatte.gov and based upon the 2010 census estimates they’ve reported, 69.5% of Seattle’s population is white, 7.9% is African American or Black, 0.8% is American Indian and Alaska Native, and 13.8% is Asian.
Cost of Living:
The cost of living in Seattle is higher in comparison to other areas of the country due in part to the higher real estate market. However, lucrative career opportunities help offset these costs for those willing to do the proper research. With companies like Amazon, Boeing, Starbucks, as well as a large number in the IT industry, those relocating to Seattle real estate are sure to find competitive salaries.
- Image Resource: Seattle Washington Market Trends
- Table Resource: LittleBigHomes.com: Seattle Real Estate Market – Home Price Forecast
- Statistics: United States Census Bureau