6 Seattle Micro Neighborhoods with Rapidly Rising Home Prices
Seattle IS a city with many legitimate neighborhoods. It also has some pretend ones. And then there are the geographic areas that Redfin uses to describe the city's various real estate sectors. Some are communities you'll immediately recognize—like the Chinatown–International District and Madison Park, where home prices rose the most, proportionally speaking, in 2021.
Other risers last year aren't as easy to pinpoint on the map. These smaller clusters of city blocks—let's call them micro neighborhoods—often have names that sound Hollywood-fake (Victory Heights, anyone?). But their price hikes were very real last year, according to Redfin data.
Straddling Rainier Valley and Rainier Beach, this pocket of Seattle runs along Lake Washington. While many in the area might make the short trip north to sprawling Seward Park, a more modest natural escape, Pritchard Island Beach can be found even closer to home.
Price growth year-over-year: 29.1%
Median sale price in 2021: $644,000
A slice of Rainier Beach at the city's southern edge, the homes here are within walking distance of Kubota Garden. The light rail station is a bit farther away, but clearly that hasn't lowered asking prices. Total sales did dip by about 10 percent compared to 2020.
Price growth year-over-year: 28.9%
Median sale price in 2021: $625,000
We're entering unoriginal name territory. Then again, this northern enclave's part of a neighborhood named Lake City, so originality might not be highly valued around here. But its properties definitely are. Did we mention there's a lake (Washington)?
Price growth year-over-year: 25.9%
Median sale price in 2021: $789,998
Some (many) might group this area in with the rest of Delridge, but Redfin apparently doesn't. Kids will find a destination playground at Westcrest Park. Parents (or singles) can check out a burgeoning nightlife and dining scene in nearby White Center.
Price growth year-over-year: 22.1%
Median sale price in 2021: $647,000
Remember the aforementioned Victory Heights? This is next door. Both of these areas, along with Cedar Park, saw price hikes after the light rail's expansion north. About 21 percent more homes sold in this community last year than in 2020.
Price growth year-over-year: 21.1%
Median sale price in 2021: $855,000
One of the most expensive parts of Seattle somehow got markedly pricier in 2021. Along the western edge of Magnolia overlooking Puget Sound, houses regularly fetched in the neighborhood of $2 million here. It's no secret why. Massive houses and Discovery Park–adjacency make this a great place to settle down if you're flush with cash; retirees abound.
Price growth year-over-year: 20.0%
Median sale price in 2021: $1,740,000