Seattle ranks No. 7 for luxury home sales

Seattle ranks No. 7 for luxury home sales

Credit: Wendy Lister and Kirsten Paulsen / Coldwell Banker Bain

This downtown Bellevue condo featured on Coldwell Banker Bain’s website at a list price of $2,188,000 was built in 2008 and has 3 bedrooms and 3.25 baths.

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by KATIE SCAFF / KING 5 News

KREM.com

Posted on May 17, 2013 at 2:16 PM

Seattle ranks No. 7 in the country for the number of million-dollar homes sold from January 2012 through March 2013, according to real estate broker Redfin.

The Eastside 98004 zip code, which includes Clyde Hill, Hunt’s Point, Yarrow Point and Northwest neighborhoods, had 268 million-dollar-plus homes sold over the 15-month period, making it the most luxurious market in the Seattle-area, Redfin reported.

The market for luxury homes has rebounded faster than the U.S. housing market as a whole. Sales of these million-dollar-plus homes increased 34 percent, compared to the overall market’s 5 percent increase, according to Redfin.

In West Bellevue — which also includes the Medina neighborhood — sales were up 40 percent in 2012,  according to Lisa Whittaker of Coldwell Banker Bain.

Whittaker said inventory in the West Bellevue market is currently at a 10-year low, with less than a four month’s supply for million-dollar-plus homes.

Redfin’s analysis of luxury home sales also included four California neighborhoods, which took the top four spots. San Francisco was ranked No. 1 with 474 in million-dollar-plus home sales, followed by Los Angeles with 469, Silicon Valley with 430 and San Diego with 415.

Baltimore, Md. and Houston, Texas fell at the bottom of the list of 22 markets, with 44 and 24 million-dollar-plus homes sold, respectively.

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