Capitol Hill Real Estate Report – October 2016

capitol hill real estateAs with the rest of Seattle, Capitol Hill real estate continues to perform well.  In October of this year, there were 13 Capitol Hill homes sold for an average of $926,000 and 28 Capitol Hill condos for an average of just over $446,000.  The highest price in October was $1,500,000 for a home on 16th and Republican and $1,150,000 for a condominium on the 700 block of Belmont Ave.

The Central Seattle area (between I-90 and the Montlake cut and I-5 and Lake Washington) saw the average price of homes up from October 2015 of $882,720 to $990,258 in October 2016 while condos rose from $507,567 last October to $593,872 in October this year.  The number of sales of area’s homes decreased from 83 in October last year to 64 this year, whereas the number of condos sold rose from 52 to 79.

While prices of real estate on Capitol Hill and in Central Seattle are significant, they are still dwarfed by other local areas.  For example, the average price on Mercer Island this October was just under $1.5 million and the Bellevue area west of 405 was nearly $2 million.