First Quarter Pacific Market Report Details Continued Strong 'Frenzy' In Region

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Seattle and surrounding areas continued to show brisk homebuying activity, according to Coldwell Banker Bain's comprehensive Q1 2018 Pacific Market Report released this week. The 20-page report, which covers regions all over Western Washington and Portland, Oregon, predicts a 'Spring frenzy' for Seattle and Eastside markets, as demand continues to outpace supply.  Highlights of the report include:

  • The average single-family home price - across all Seattle communities climbed well over $800k
  • Seattle's luxury market sales, $2.3 million and above, showed strong interest
  • The Seattle neighborhoods of Madison Park and South Lake Union/Queen Anne demonstrated the highest average overall sales prices in the city
  • Seattle's average condo sale price surpassed $500k
  • The average single-family home price – across all Eastside communities – surpassed $1 million for the first quarter $1,045,136. This represented a 16.5% increase over Q1 2017
  • Just outside Seattle, Bainbridge Island's average sales price exceeded $1 million dollars

    READ MORE FROM THE Q1 PACIFIC NORTHWEST MARKET REPORT HERE: 2018 Q1 Report