The median sale price for homes in the North Seattle market is $775,000, a 3.3% increase from last year, according to a recent Redfin report.
Compared to the average home in the U.S., which sold for around $383,149 in November, North Seattle homes are going for nearly double the median nationwide price.
Homes in King County sold for an average of $750,000 last month, a 9.8% year-over-year spike, according to another Redfin analysis.
The average home in North Seattle sells for around 4% above listing price, while other homes in the area are selling for as much as 10% above listing price.
Home prices in the U.S. were up 15.1% compared to last year, as the number of homes sold was down 2.5% year over year.
In November, the number of homes for sale in the U.S. was 693,529, down 29.4% from the same month last year. Newly listed homes totaled 460,436, a 6.6% drop.
“The direction and pace at which housing supply changes indicate whether the options for buyers are increasing or decreasing,” the report noted. “They can also indicate whether homes are lingering on the market or being sold faster than sellers are listing them.”
Last month, homes were spending an average of 22 days on the market, down from six days a year earlier.