Wallingford, Seattle Real Estate Prices Up, Sales Strong

Wallingford, Seattle Homes - Real Estate Sales 2010

Sales of homes in Seattle's Wallingford neighborhood are markedly improved over 2009, and prices are showing a rebound at the halfway point of the year. Total sales of single family homes are up 27%, and the median sale price is up 21% vs the first half of last year. As with the usual median price discussion, we don't really have a 21% increase in the value of all Wallingford homes in one year, but more high-end home sales have pushed the median back up to normal levels after a dismal 2008-2009.

In May of this year we had 14 single family homes sold in Wallingford, following 15 sales in April. The median sale price during the month was $567,500. Condos are not prevalent in Wallingford, with just a handful selling so far this year. There are an increasing number of new construction townhomes in the neighborhood, although they are still significantly outnumbered by detached, single family homes. The vast majority of Wallingford homes are early 1900s Craftsman, Tudor, and Colonial homes.

Year-to-date, we've had 61 single family home sales, compared to 48 homes sold in the same period last year. The median price in that period has risen from $427,000 to $510,000. Removing townhomes from the sales, the detached home sales median price this year is $560,000.

Wallingford's waterfront shoreline on Lake Union is a mix of public parks, marine industrial, and houseboat marinas. There are a handful of houseboats sold on the waterfront here every year, with the majority being in Seattle Marina (rental slips) and Gasworks Marina (owned condominiumized moorage). These houseboats in Wallingford usually range in price from $150k to $500k, while the more expensive floating homes in Eastlake reach up to $2 million. Just one Wallingford houseboat has sold so far this year, a $250k newly-constructed vessel in Gasworks Marina.

Current Listings:
Seattle Homes For Sale
Seattle Waterfront Homes
Seattle Houseboats and Floating Homes

Sam DeBord is a Realtor and real estate broker with SeattleHome.com, a division of Washington State Realty, LLC. He is a member of the Seattle-King County Association of Realtors and a Green-Certified Pro. Source: Individually compiled NWMLS statistics. The NWMLS did not compile or publish this information.

Have a question about this waterfront home, or Seattle real estate in general?
Sam can be contacted at (206) 658-3225 or Sam(at)SeattleHome.com.