It’s no question that 2020 was an unprecedented year in just about every way possible — including real estate. Low inventory and high demand sent home prices skyrocketing, ratcheting up the competition in King County’s already hot market. This competition didn’t slow down in the winter months either, as neighborhoods continued to see a rise in prices and home sales through the end of December.
But among the region’s most competitive neighborhoods, which ones fared the best at the end of 2020? Recent data from the NWMLS gives us some insight into King County’s strongest neighborhood markets.
Ballard/Greenlake and North Seattle both saw a marked increase in closings. Compared to December 2019, the neighborhoods both saw a 44% increase in closings. Ballard/Greenlake also had a significant price increase, from an average of $705,000 in December 2019 to $776,500 this year.
In terms of Seattle price increases, Southeast Seattle saw the greatest gains, coming in with an average increase of 16.4% in the neighborhood...
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