Although development has been slowing down rapidly over the past two years, we are starting to see projects pick up in various areas, such as West Seattle, and North Seattle neighborhoods like Ballard and Fremont. Plans for the 4724 California Ave project in West Seattle are still underway, and a Southwest Design Review Board meeting will be held this Thursday night at 6:30PM at the Youngstown Cultural Arts Center. This is the first public design meeting for the roughly 100unit building with retail space on the ground floor in the junction at the old Petco site. For more information on this project status, or other developments in the neighborhood, please visit the Department of Planning and Development.
For the first time in a very long time, home prices in King County rose last month, and have increased significantly in the Seattle city limits. According to the Seattle Pi, the median sale price was $360,000 countrywide in April and was $425,000 in Seattle. Rates have risen 2.9% nationwide, and 10.4% in Seattle alone. There’s something to be said for the Northwest after all.
Of course, there are still areas within King County that aren’t seeing the same increase that Seattle is, such as South King County where activity was simply OK. Lender owned homes, which generally sell for less went up this month as well, and overall sales of homes and condos were up in Seattle, and nationwide 19.2%. Pending sales in our city have risen, indicating an increase in activity even though some of these don’t always close. It’s very promising that although the prices of homes are continually on the rise in Seattle and the surrounding King County areas, sales are just as high as ever. For listings in the Seattle area, click here.