Let's start with the good housing market news: Inventory is up, and active listings are up. After the ultra-competitive real estate year that was 2021, those are both promising signs of a more balanced 2022 for potential home-buyers.
Still, according to the latest data from Northwest Multiple Listing Service, that doesn't mean prices are dropping. It just means they're not growing at quite the bonkers rate they once were.
6. West Seattle
A hot spring, where that year-over-year price growth peaked at a whopping 26.54 percent, has since mellowed to lower double digits. Still, that's nothing to sneeze at. Perhaps the potential reopening of the West Seattle Bridge has this enclave looking better by the day.
June 2022 median sale price: $782,500
Price growth year-over-year: 12.59 percent
5. Ballard and Greenlake
Believe it or not, June saw a tamer price growth for these north Seattle locales than other months in 2022. Perhaps the rapid rise in inventory has something to do with it. In June, there was over a month of inventory; back in May, just a little over half a month.
June 2022 median sale price: $734,000
Price growth year-over-year: 13.36 percent
4. SoDo and Beacon Hill
After topping this list for three straight months this spring, these two neighborhoods have fallen just a tad. But it's all relative. The median price of a home is about $100,000 more than it was the same time last year.
June 2022 median sale price: $807,495
Price growth year-over-year: 15.03 percent
3. Southeast Seattle
Inventory nearly doubled in this quadrant of Seattle, which includes Columbia City, Rainier Valley, Rainier Beach, and Seward Park—but potential home-buyers seeking affordability might have kept business brisk to help fuel that price growth.
June 2022 median sale price: $870,500
Price growth year-over-year: 17.25 percent
2. North Seattle
This part of the city includes perennially popular neighborhoods like Ravenna and the University District with newfound favorites like Lake City and Maple Leaf. Which maybe explains (although doesn't lessen the shock of) that wild median sale price.
June 2022 median sale price: $1,060,000
Price growth year-over-year: 19.55 percent
1. Queen Anne and Magnolia
It can be tough to get a read on fickle Queen Anne and Magnolia by tracking the stats alone. In February and May, the year-over-year price change was actually in the negative column—largely due to price of single-family homes that traditionally sell slower than condos and more affordable properties. That obviously wasn't the case in June, though.
June 2022 median sale price: $1,197,950
Price growth year-over-year: 21.37 percent
Worth a Mention: Central Seattle
Despite a promising rebound earlier this year, the downtown Seattle core is still not quite back to where it was before the pandemic, which sent folks out to less-central neighborhoods and farther flung burbs. But maybe the time is right to invest now before return-to-work and hybrid policies cause a return en masse.
June 2022 median sale price: $775,000
Price growth year-over-year: -6.68 percent