Seattle, WA 98119 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. median sold price: $1,100,000 is the primary indicator of realized value in 98119 and, together with the observed price year-over-year trend up, suggests recent transactions are supporting a modest upward trajectory in market value.
2. median listing price: $1,317,000 exceeds the median sold price of $1,100,000 and may indicate pricing friction where seller expectations are ahead of recent transaction levels; sellers should consider aligning pricing to recent sold comparables to avoid extended marketing time.
3. median days on market: 271 points to slower sales velocity and, when combined with the sample inventory context, suggests a relatively constrained active supply but elongated time-to-contract; this appears consistent with a moderate market temperature and moderate interest rate pressure, which may be slowing decision timelines.
4. median price per square foot: $687 and median market rent: $1,895 (with rent year-over-year trend up) signal a premium-priced neighborhood where rental demand is firm; actionable approach: price competitively on a per-square-foot basis and prioritize well-presented, turn-key listings to capture buyer interest.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.