The West Seattle area of the city of Seattle includes the neighborhoods of Alki, Admiral, North Admiral, Belvedere, Fauntleroy, and Gatewood. Local media reports in 2015 indicated that West Seattle, especially its northern and western neighborhoods, have been a preferred target for homebuyers moving from California’s Bay Area. Chief Sealth High School in West Seattle is ranked among the top public high schools in the state. Although the area has been a seller’s market for years, the monthly supply tightened markedly in 2015, bottoming at 19 days in June. The average monthly supply was 1.8, from 1.7 in 2014 and about a month the previous year.
Although price gains were generally lower than the trend in King County in 2014, that deficit began to be erased in January 2015, so that the median price of homes in West Seattle ended equal to the county median for the year: $435,000, with a gain of 13.0 percent from 2014. Similarly, while deviation from list prices followed the countywide pattern in 2014, higher demand in 2015 resulted in competing bids on properties for sale. Read the Full Report Here >>