Hollywood Hill Real Estate News – Year End 2016
2016 will be a remembered for many things including a small foot note that the greater Seattle area acquired the coveted status of this country’s hottest real estate market. Defying all forecasts, Seattle, earned the distinction of being the hottest market with the fastest-rising prices in the nation. And it appears that 2017 will continue that positive trend.
The “greater” Seattle area includes several communities. And within each community the market played out differently. The core areas, Seattle, Bellevue, Kirkland saw multiple offers and unbelievable buying frenzies around certain properties. Sellers in outlying areas may have been surprised when their property did not draw the same kind of attention.
Hollywood Hill proved to be one of the “greater” Seattle communities that performed above average. Buyers were willing to pay a premium. In fact, buyers paid almost 20% more for a home in Hollywood Hill than they did a year ago.
Statistics released early December through the NWMLS showed King Co. prices averaged an increase of 10.9% year to date proving Hollywood Hill’s stellar performance.
Here are the end of year stats for Hollywood Hill::
60 homes sold and closed !
$979,622 – average sold price for 2016
99.24% was the percent sellers received of their list or asking price.
36 days – was the average number of days it took to sell a home.
$279.91 – was the average price per square foot sellers received.
Graph shows the average selling price and average sale vs. list price since 2012.
Lakeshore Realty West, LLC
Maureen Nolan – 206-200-9849