Seattle is known as one of the priciest residential markets in the U.S., with area median home prices reaching $800,000 in September. However, that price is dwarfed by the cost of homes in certain luxury Seattle neighborhoods.
Redfin analyzed median sales prices in Seattle neighborhoods during September to determine which area is the most expensive — and the most luxurious. Only neighborhoods with three or more home sales during the time period from July through September were included.
The most expensive was Denny Blaine, located on the eastern shore of Lake Washington. The area had a median sales price of $2.2 million — and while that price makes it the most expensive neighborhood in Seattle, it’s 40% lower year over year.
Denny Blaine was followed by Madison Park, known for Madison Park Beach, the Arboretum and Madison Street. The median sales price pushed up 12.3% year over year to $2,050,000.
Next up was Portage Bay, located on the eastern shore of Lake Union near the University District and Capitol Hill. The median sales price was $1,750,000 in September, a year-over-year bump of 15.5%.
The No. 4 most expensive neighborhood was Laurelhurst, a Lake Washington locale known for its Tudor and Colonial revival mansions. The median home there sold for $1,670,000 during the month.
Laurelhurst was followed by Hawthorne Hills in the northeastern part of Seattle. The highly competitive market has low inventory thanks to high consumer demand, which pushed prices upward annually. Last month the median home there sold for $1,667,500.