Hot or Not?  Which Seattle-Area Markets Are Doing Best/Worst?

Don’t believe everything you read.

Headlines like to make a splash, but as you may have heard – in real estate, everything depends on Location, Location, Location.

Seattle Home Buyers: The Market Has Adjusted - Are You Ready?
Seattle Home Buyers: The Market Has Adjusted

The market is not “crashing,” but has perhaps “reverted” to the more normal pace seen before the pre-pandemic levels.

Let’s take a look at the Best and Worst neighborhoods, when it comes to year-over-year price changes based on our most recent MLS data. 

Best: 

  1. Beacon Hill & SODO – Year-over-Year: Up 11.3%
  2. West Seattle – Year-over-Year: Up 11.4%
  3. Queen Anne – Year-over-Year: Up 25.8%

Worst: 

  1. North Seattle – Year-over-Year: Down 0.7%
  2. SouthEast Seattle – Year-over-Year: Down 1.53%
  3. Belltown, Downtown – Year-over-Year: Down 4.63%

Mortgage Rates are forecast to keep rising through 2022, but most of the dramatic increase is probably behind us.

Emily Cressey- Always Here To Help!

Many mortgage brokers I talk to are predicting rates to come down a bit in the next 12-24 months.  If that happens, you could potentially buy now (while prices are softer, and sellers are more flexible) and refinance if/when prices come down in the future. 

Emily Cressey

Emily Cressey is a real estate broker residing in Lake Forest Park, WA who services the Greater Seattle area including Shoreline, Mountlake Terrace, Brier, Lynnwood, Kenmore, Bothell and Edmonds, WA.

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