Southeast Seattle includes the neighborhoods of Mt. Baker, Seward Park, Leschi, Columbia City, Lakewood, and Rainier Beach. This is an historic area of Seattle, and some of its oldest streets (e.g., Holgate, Lander, Wilson, Angeline, and Graham) are named for early settlers and denizens of the city. The area has been a seller’s market continuously for the past three years, and has not seen more than six weeks of homes in inventory for sale since February 2015. The average monthly supply was 1.2 months in 2015, down from 1.9 months in 2014, and two months in 2013.
With occasional high and low divergence, the median home price in Southeast Seattle—$20,000 below the King County median last year—ends 2015 higher than the county median price. At a 15.5 percent year-over-year increase, this area places fifth among those profiled. Competition for homes here has been more than sufficiently intense to drive sale prices higher than list. The anomalous spike in November 2015 is partly explained by three transactions involving bids adding triple digits to listed prices, including one for $285,000 over the asking price. Read the Full Report Here >>