West Seattle 2014 Real Estate Market Statistics

Alkai Beach West SeattleIt is always a blessing living on Alki, but it was particularly entertaining this past weekend. The high tide and strong wind combination created gargantuan waves that slammed the entire beach.  You can visit The West Seattle Blog which has a ton of awesome photos and videos. 

The West Seattle Real Estate market rode a wave of its own in 2014.  It was characterized by rising home prices, multiple offers, and low inventory. We have wonderful tools at Windermere to analyze the most current data directly from the MLS. Below is statistical information from TrendGraphix, a source available for Windermere agents.

 

As you can see from the graph below, home prices in West Seattle have been steadily increasing since 2011, and inventory has been on the decline. Coincidence? I think not. The most important thing to remember from this information is that home prices are determined by the market. I don’t determine the price of your home and you don’t determine the price of your home. The market is simply supply vs. demand. With limited homes for sale, and high buyer demand, prices have been steadily increasing.

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The Alki storm of 2014 was wonderfully entertaining and a bit scary, much like the 2014 year in Real Estate. I am looking forward to riding the wave into 2015.

Posted on December 3, 2014 at 11:40 pm
Trevor Russell | Category: Uncategorized

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