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Market Trends

2017 YEAR END REVIEWS:

Click to view annual market reports for Mercer Island, Seattle and The Eastside.
Published January 2018

Mercer Island Report Seattle Report Eastside Report

Seattle area real estate paid off big yet again in 2017 with a 14.1% median price increase to $708,000. The Eastside fared even better—up 15.2% to $868,000. In fact, over the past five years, prices are up 58.7% and 54.8% respectively. A Seattle house that was $446,000 in 2013 would sell for a whopping $708,000 today, or $262,000 more.

Stack that up against nearly any other investment—oh, and don’t forget that gain is based on the value of the entire asset and not just what you invested in it (i.e. down payment and closing costs). If you purchased said home in 2013 for $446,000, putting 20% ($89,200) down and financing the remainder with about $10,000 in loan fees, you would have invested about $100,000 for a gain of $262,000. A 262% return in five years assuming no major improvements were made.

While 2018 should be another good year for real estate, it might not see the hefty appreciation gains of 2017. Expect to see some slowing and a build-up of inventory in the luxury sector while the tight supply of entry-level homes steals the attention (and dollars) of would-be buyers. Other big winners will be highly coveted one-level homes that allow boomers to age in place, and communities with high walkability or those adjacent to highly-reliable rapid transit.

Seattle’s higher cost of living (and traffic) may push telecommuters and retirees alike further from the Seattle-Bellevue metro region as they cash-in their blooming equity for a lower-cost lifestyle in the burbs and beyond—leaving the costlier in-city abodes to high-income earners who want the hip urban life despite the cost.

 

WATERFRONT 2017 YEAR END REVIEW:

Click to view the annual waterfront report for Mercer Island, Seattle and the Greater Eastside.
Published January 2018

Waterfront Report

 

CONDO 2017 YEAR END REVIEW:

Click to view the annual condo report for Mercer Island, Seattle and the Greater Eastside.
Published January 2018

Condo Report

© 2018 Windermere Real Estate/Mercer Island
Information and statistics derived from Northwest Multiple Listing Service.

 

King County Sales Trends:

Seattle Sales Trends:

Eastside Sales Trends:

Mercer Island Sales Trends: