If you’re hosting turkey day in a home that you purchased 2 or 3 years ago, you my friend, have something to be thankful for. We’re giving you a small glimpse at what $500,000 could have bought you in 2013 or 2014, and what it appears to be getting you now.
Median sale prices in, let’s say Ballard/Greenlake, have gone from $517,000 from just last year to $589,000 today with more than 244 homes in the area selling in the $550k to $600k range! If you ask the MLS what the median sale price for November 2013 was, the goddess of listings will shock you with the number $469,950. That’s a pretty hefty jump!
Leaving Seattle proper and heading east to the suburb of Kirkland, more specifically Rose Hill, the numbers are looking pretty similar. In October of 2013 the Median sale price teetered for a few months around $459,500, October 2014 skyrocketed to $700k big ones! Finally, today the median price in the Rose Hill area is $625,000.
The dirt is in the details though. What are those dollars buying you today vs. 2 years ago? We’ll move down the 405, cross over I90 and check out Newcastle.
Newcastle 2013 – “Formal living and dining with new cherry hardwood floors, large kitchen with eat in space and family room with deck access.Huge master on main floor with sauna/steam room, jetted tub, built in storage. On lower level, den, 2 bedrooms + bonus room perfect for media room. Lots of storage: shed and solarium (workshop ? ). Fully fenced yard with deck off main floor, cul de sac, spacious, room for everyone.” – mls
Newcastle 2014 could see you with a “Light-filled living room w/ French doors & large family room open to kitchen made for easy entertaining. Master w/ walk-in closet and 5-pc bath. Beautifully landscaped backyard w/ large patio.
Peace-of-mind perks include top-grade comp roof and generator. Conveniently located near Lake Boren Park and Newcastle shopping; easy access to 405 & 90
And, Finally if you were to grab your Realtor and make the quick commute to the intersection of I90 and I405 today you might have to look around pretty hard to find a single family residence in the Newcastle area for under 500k. I had to jump a mile east, almost to “Harmon Heights,” and, I’m not going to lie… we had to cough up an extra 29k to find something. Here’s what your fighting for on this Turkey Day.
“The upper level has 3 bedrooms and 1 bathroom. Lower level has 4th bedroom, ¾ bath, and family room. Kitchen with stainless steel appl, maple cabinets & eating bar with pendant lighting. Vented ceiling & Skylights. Newer roof, windows, plumbing, electrical. Close to major job center, shopping centers. Few min to I-90, Park & Rider, Bellevue College, Library, Community Center.” -mls
Compared to the 500k of 2013 this beauty has just 1510 square feet, but it does provide 4 bedrooms and 1.75 bathrooms.
If this all feels a little daunting. It is. In August the Seattle Times reported that the average home price in Seattle had jumped 18.9% year over year. But, there are a number of programs to help put people into homes and interest rates have been extraordinarily low. To have a chat about “if” and “how” to get yourself into one of these or any home talk to a Realtor today.