Let’s compare two South Seattle areas, the greater Columbia City area to the Greater West Seattle. I’m going to work with the data based by the areas as defined by the Northwest Multiple Listing Service.
The average price per square foot in area 380 in September of 2016 was $329, for area 140 during the same month, $315. Source: Trendgraphix
The housing stock in Columbia City is more pre-great depression craftsman style homes, while in West Seattle you will find many “make due” war boxes from the 1950’s era. As is often the case, the price per square foot can be misleading.
Perhaps a better measure to evaluate the demand is to look at the average number of days on market for each area. West Seattle is seeing homes fly off the market in 24 days for 1% over the asking price.
It’s interesting to note that homeowners and sellers seem to be much more aggressive when it comes to the average list price in the Columbia City area.