Seattle, WA Real Estate Market

With a market temperature score of 94 and homes sitting on the market for a median of just 7 days, sellers in 98117 are operating in a highly favorable environment with strong demand relative to the 208 active listings available. Pricing confidence is supported by a median asking price of $1,125,000 and a per-square-foot ask of $596.23, giving sellers a solid benchmark when positioning their home.

Buyers in 98117 should be prepared to move quickly given the median days on market of only 7 days and a competition score of 94, which signals intense demand relative to the 208 homes currently listed. Asking prices range from $425,000 for a 1-bedroom to $1,295,000 for a 4-bedroom, so clarifying your bedroom needs early will help narrow your budget targets in this fast-moving market.

With a median rent of $2,395 against a median asking price of $1,125,000, investors should carefully model cash flow at current mortgage rates before committing, as the rent-to-price ratio is narrow in this market. The rental inventory of only 124 units suggests limited competition on the rental supply side, and 3-bedroom rentals asking $3,800 per month may offer more favorable return potential compared to lower bedroom counts.

The current 30-year fixed mortgage rate of 6.37% and the 15-year rate of 5.72% meaningfully affect monthly carrying costs on asking prices that reach $1,125,000 at the median in this zip code. Buyers who can qualify for a 15-year loan would benefit from the 0.65 percentage point difference in rate, though the higher monthly principal payments require a careful budget assessment.