Seattle’s Top 5 Fastest-Rising Neighborhoods in 2017

Seattle’s Top 5 Fastest-Rising Neighborhoods in 2017

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By all accounts, Seattle had a strong 2017, and according to The Seattle Times, the city’s population growth is now twice the national average. Moreover, the city enjoys a diverse economy, as well as a young, educated workforce, and abundant capital. Consequently, it doesn’t surprise us to see that the newspaper predicts that the city will be America’s hottest real estate market in 2018.

At the end of Q3 2017, Seattle’s median home price increased 82% compared to 2012, resting at $618,906, with significant growth also visible at a neighborhood level. For an in-depth view of how far the Seattle housing market has come, we analyzed all residential transactions to close in the city during the first three quarters of 2012, and compared them with all the transactions closed in the first three quarters of 2017.

Looking at Seattle’s fastest-rising neighborhoods, we noticed that three out of our top five contenders have median home prices over the $1 million mark, while some have more than doubled their prices compared to 2012.

Keep reading to see which five Seattle neighborhoods saw the highest increases in median home prices last year, compared to 2012:

Seattle's top 5 Fastest-Rising Neighborhodos in 2017

#1. Harrison—Denny-Blaine

Median sale price: $1,660,000
Change in median sale price compared to 2012: $913,750
Number of recorded transactions: 63

The Denny-Blaine neighborhood, also known as Harrison, is the fastest-rising neighborhood in Seattle. Median home prices in the area increased $912,750, reaching $1,660,000 at the end of Q3 2017.

It’s easy to see why prices went up in the neighborhood—just look at this swanky property at 3303 E Madison Street. The charming home has an open floor configuration, features a covered patio, and comes with an asking price of $1,050,000.

#2. Laurelhurst

Median sale price: $1,450,000
Change in median sale price compared to 2012: $630,000
Number of recorded transactions: 60

The upscale Laurelhurst snatched the second spot on our list. With a median sale price of $1,450,000 in Q3 2017, home prices in the neighborhood increased $630,000 compared to 2012.

The property at 3141 East Laurelhurst Drive is a fitting example of what the market has to offer. The lake view home comes with a private backyard and patio, and has an asking price of $2,260,000.

#3. Madison Park

Median sale price: $1,350,000
Change in median sale price compared to 2012: $529,125
Number of recorded transactions: 112

Bounded on the East by Lake Washington, Madison Park ranks third on our list. Compared to 2012, median home prices in the neighborhood increased $259,125, reaching $1,350,000 at the end of Q3 2017.

Surrounded by gorgeous gardens, the property at 3344 E Shore Drive represents the Madison Park market quite well. Featuring an asking price of $2,850,000, the four-bedroom, three-and-a-half-bathroom home is fully equipped and ready to welcome its new owners.

#4. Mann

Median sale price: $750,000
Change in median sale price compared to 2012: $448,000
Number of recorded transactions: 112

Mann, one of the smallest neighborhoods in Seattle, has seen its median home price more than double compared to 2012. Home prices in the neighborhood rose from $302,000 in 2012 to $750,000 in 2017, adding up to an increase of 148%.

Located at 2608 East Cherry Street, this well-placed, unique property gives us a taste of what Mann has to offer. The charming townhouse has been recently remodeled and has an asking price of $599,000.

#5. Madrona

Median sale price: $993,000
Change in median sale price compared to 2012: $431,125
Number of recorded transactions: 65

Madrona rounds out our list of the top five fastest-rising neighborhoods in Seattle. The neighborhood has seen an increase of $431,125 in median home prices compared to five years ago, reaching $993,000 at the end of Q3 2017.

This spacious 1,450-square-foot home at 832 34th Avenue is a good example of the state of the Madrona real estate market. The property provides easy access to the downtown area, offers exquisite views of Lake Washington, and boasts an asking price of $775,000.

Check out the table below to see how median sale prices changed compared to 2012, in all the neighborhoods we looked at:

NeighborhoodMedian Sale Price in 2012Median Sale Price in 2017Difference in Median Sale Prices 2012/2017
Harrison--Denny Blaine $746,250 $1,660,000 $913,750
Laurelhurst $820,000 $1,450,000 $630,000
Madison Park $820,875 $1,350,000 $529,125
Mann$302,000$750,000$448,000
Madrona $561,875 $993,000 $431,125
Green Lake $411,000 $835,000 $424,000
Adams $355,100 $770,000 $414,900
Montlake $679,025 $1,075,000 $395,975
Wedgwood $350,000 $744,500 $394,500
Briarcliff $750,000 $1,140,000 $390,000
Alki $442,500 $830,000 $387,500
University District $355,000 $740,000 $385,000
Ravenna $448,500 $827,500 $379,000
Roosevelt $449,975 $825,000 $375,025
Matthews Beach $409,500 $780,000 $370,500
North Delridge $216,300 $570,000 $353,700
Sunset Hill $512,000 $865,000 $353,000
Atlantic $257,550 $609,900 $352,350
Fremont $405,000 $756,500 $351,500
Phinney Ridge $453,650 $802,500 $348,850
North Beach - Blue Ridge $505,000 $850,000 $345,000
Central Business District $485,000 $824,500 $339,500
Seward Park $438,500 $773,342 $334,842
Loyal Heights $426,500 $760,000 $333,500
Westminster Triangle $225,600 $559,000 $333,400
Fauntleroy $409,000 $742,250 $333,250
West Woodland $396,250 $725,000 $328,750
North Beacon Hill $249,800 $577,000 $327,200
Columbia City $276,750 $603,000 $326,250
Eastlake $394,000 $712,500 $318,500
Brighton $184,288 $501,000 $316,712
Minor $385,000 $700,000 $315,000
Lawton Park $385,000 $699,975 $314,975
Seaview $327,500 $640,000 $312,500
Lower Queen Anne $300,000 $610,000 $310,000
Bryant $462,500 $772,000 $309,500
Redondo $242,000 $550,000 $308,000
Richmond Beach $400,000 $706,500 $306,500
Hillwood $248,000 $550,000 $302,000
Whittier Heights $433,200 $731,550 $298,350
Mid-Beacon Hill $230,000 $527,000 $297,000
Pinehurst $215,000 $511,250 $296,250
Windermere $738,400 $1,029,000 $290,600
Wallingford $490,000 $780,000 $290,000
Olympic Hills $235,750 $520,750 $285,000
Westlake $226,700 $511,000 $284,300
Broadview $423,475 $707,000 $283,525
Cedar Park $283,500 $565,000 $281,500
Southeast Magnolia $545,000 $825,500 $280,500
Briarcrest $178,500 $457,750 $279,250
Crown Hill $355,000 $633,500 $278,500
North College Park $323,505 $599,975 $276,470
High Point $244,322 $518,450 $274,128
Highland Park $178,475 $450,000 $271,525
Bitter Lake $244,000 $515,000 $271,000
West Queen Anne $531,000 $801,000 $270,000
Genesee $354,950 $622,500 $267,550
Parkwood $224,730 $487,500 $262,770
Greenwood $314,000 $574,000 $260,000
Meridian Park $243,650 $502,500 $258,851
North Queen Anne $564,000 $821,688 $257,688
Stevens $598,875 $853,547 $254,672
Echo Lake $236,000 $487,840 $251,840
South Delridge $160,000 $410,000 $250,000
Richmond Highlands $309,152 $557,500 $248,349
North Admiral $441,475 $688,500 $247,025
Central Waterfront $358,000 $604,985 $246,985
Dunlap $164,674 $410,000 $245,326
East Queen Anne $486,000 $731,000 $245,000
Ridgecrest $225,300 $470,000 $244,700
Pike Market $683,750 $923,000 $239,250
Fairmount Park $314,500 $551,500 $237,000
Rainier Beach $214,950 $445,000 $230,050
Meadowbrook $397,000 $624,700 $227,700
Pioneer Square $331,000 $556,850 $225,850
North City $201,500 $425,000 $223,500
Portage Bay $725,000 $948,500 $223,500
Maple Leaf $363,000 $585,000 $222,000
Leschi $603,000 $823,250 $220,250
South Park $162,475 $378,750 $216,275
South Beacon Hill $191,500 $405,050 $213,550
North Central $113,400 $325,500 $212,100
Broadway $294,500 $500,000 $205,500
View Ridge $488,000 $693,500 $205,500
Highland Terrace $257,000 $455,000 $198,000
Rainier View $162,500 $360,000 $197,500
First Hill $208,800 $405,000 $196,200
Roxhill $256,635 $451,000 $194,365
Mount Baker $438,000 $630,000 $192,000
Haller Lake $262,100 $453,500 $191,400
Marina District $120,000 $310,000 $190,000
Riverview $213,203 $400,000 $186,797
Arbor Heights $325,000 $510,450 $185,450
Belltown $389,000 $572,750 $183,750
Ballard $285,000 $465,000 $180,000
Woodmont $167,500 $347,000 $179,500
Gatewood $375,000 $550,000 $175,000
North Hill $186,000 $350,000 $164,000
Victory Heights $278,750 $438,822 $160,072
Yesler Terrace $150,000 $306,250 $156,250
Zenith $177,500 $330,000 $152,500
Ballinger $179,153 $329,100 $149,947
Holly Park $334,875 $477,500 $142,625
Central Des Moines $139,450 $279,950 $140,500
South Des Moines $171,854 $305,000 $133,146
International District $179,000 $300,000 $121,000
Pacific Ridge $54,750 $135,000 $80,251
South Lake Union $325,000 $345,000 $20,000

Methodology: To determine which are the fastest-developing neighborhoods in terms of home prices, we looked at all residential transactions closed between January 2012 and September 2012 and compared them with the figures from January to September 2017. We considered condos and co-ops, as well as single- and two-family homes. All package deals were excluded.

The Highlands, Innis Arden, Interbay, and Georgetown areas were excluded from our list, as they are either not registered as administrative parts of Seattle, they didn’t record enough transactions, or are not recognized as official neighborhoods.

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