The March 2018 print edition of Seattle Magazine asks what Seattle neighborhoods are seeing the most change in values and forecasts the best up-and-coming neighborhoods.
For those looking to purchase in a home where they know there will be some assurance that its value will grow, Zillow analyzed market data to forecast changes in the coming year. Among the neighborhoods expected to see the greatest appreciation are Belltown, at 7.8 percent; Delridge, SODO, Highland Park and Riverview, at 7.2 percent; and Beacon Hill, Georgetown and South Park, at 7 percent. Those with the least positive outlook? The University District, Laurelhurst, Windermere and Bryant, at 3.5 percent; Montlake, Madison Park and Denny-Blaine, at 4.2 percent; and West Seattle, Alki and North Admiral at 4.4 percent.
And if you are looking to move somewhere in which “homes are appreciating more quickly than other places,” consider looking in Northgate, Belltown, and Uptown, the Seattle neighborhoods that had “the fastest year-over-year appreciation between December 2016 and December 2017.”
Seattle Magazine also provides some tips for city newcomers looking to purchase. “You’ll be hard-pressed to find a home in many Seattle neighborhoods for less than $700,000, unless you’re willing to buy a fixer-upper,” and it is key to note that avoiding a bidding war is near impossible unless you are looking closer to the $2 million mark.
The most affordable neighborhoods include Rainier View, with a median home price of $389,500; South Park, with a median home price of $392,400; and Northgate, with a median home price of $408,500. Those looking around the $500,000 range will have luck in Brighton, Roxhill, and Holly Park, while those in the $750,000 range are likely to find a home in Maple Leaf, Genessee, the Central District or Fremont. The city’s “million dollar” neighborhoods? Olympic Manor, Madrona, Hawthorne Hills, and Montlake.