When it comes to real estate, what are Seattle’s hottest neighborhoods?
The SeattleMet team has analyzed data from Redfin and came up with a list of hottest neighborhoods in the beautiful Emerald City. Below, we take a look at their findings.
Ravenna, the picturesque and ever-popular neighborhood just beyond the U-district was one of the popular neighborhoods for buyers looking to set down roots. The homes in this area, known for its gorgeous park and a convenient location, spent an average of only 7.5 days on market and the median sales price was $957,000 – an 17.4% increase year over year.
While West Seattle made the news mostly for its bridge closures, some parts of the picturesque area remained very active. Roxhill, Seaview and Genesee all saw a flurry of activity. Seaview, situated along the Puget Sound, saw the biggest increase in prices of 13.6% year-over-year to $827,000. Even more amazingly, over 20% more homes sold in that pocket of West Seattle in 2020 as compared to 2019.
Bryant was another hit amongst buyers, especially those priced out of Ravenna, its neighbor to the west. While offering a great location and lots of natural beauty, Bryant is significantly less expensive, with a median sales price of $875,000 – a 3.1% change year over year. While by no means moderately-priced, the area was still far less expensive than Windermere or Laurelhurst.
While Ballard was one of the most popular neighborhoods of 2020, Phinney Ridge properties spent less time on the market. The area is popular for a number of reason, from proximity to Green Lake to the restaurants and shopping of Wallingford. All of these considerations played a role as buyers looked to a vaccinated future. The average home spent just 8.7 days on the market in Phinney Ridge, but the median price held steady year over year, at $875,000.
Finally, there is Rainier Beach. Located along the southern border of Lake Washington, this neighborhood saw unprecedented activity last year. Nearly 50% more homes sold in 2020, as compared to 2019 – with a 29% increase in median sales price. While the days on market are not as impressive as in other areas, the demand is certainly noteworthy.
We urge you to read the article from the SeattleMet team in its entirety. It can be found here!Email