$1M Seattle Home Sales Surging, Bellevue Rising Even Faster

It’s no San Francisco but the Seattle-area has seen it’s fair share of $1M+ home sales in 2014, according to real estate website Redfin’s latest luxury housing report. Seattle has had 205 sales break the seven-figure mark so far this year, a number that is 22% above the figure from the same time last year and a whopping 118% more than 2011, when only 96 Seattle houses topped $1M.

Million-dollar houses are slowly normalizing all over the city. The average sale price of a seven-figure home is actually $1.542M (up 3.5% from last year), though the city does not have any $5M home sales on the books for 2013 or 2014. There are currently 161 $1M+ properties on the market in Seattle, eleven of which are asking over $5M.

Nearby, Bellevue has seen even more growth in the $1M home market. There have been 116 home sales this year, up 30% from last year and 213.5% from 2011. The average price of these seven-figure properties is $1,570,000 and they’ve had one $5M+ home sale so far in 2014.

Interestingly enough, Mercer Island finds itself in a bit a million-dollar rut, with sales of seven-figure homes down 22% so far this year from 2013.

This article originally appeared on Seattle Curbed.

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