Seattle's First Hill: All About the Hottest Neighborhood in the Country
The market is still booming in Seattle, with houses flying off the market almost as soon as they are listed and prices continuing to skyrocket to record-setting levels month after month. Seemingly, there's no end in sight for this hyper-competitive market. However, there's one neighborhood in Seattle that is even more competitive than the rest of the city – First Hill. According to an article published on GeekWire, First Hill has been named as the top neighborhood for expected home sales for the remainder of 2017. Not only is it predicted to be the top neighborhood for sales in the city, but the top neighborhood for home sales in the entire country!
All About First Hill
Named because of its location on the first hill that people will run into when traveling in the direction of Lake Washington, the First Hill neighborhood is in a prime location just outside of the central downtown area. Here's 5 fast facts that you need to know about First Hill:
- First Hill has been one of the most desirable neighborhoods in Seattle for more than 100 years. Residents in the late 19th century felt it was located close enough to the heart of the city to be convenient yet far enough away to be peaceful.
- It's an educational epicenter in the city, with many private schools and universities calling this neighborhood home.
- It's also home to many of the great health care facilities in Seattle, earning it the nickname "Pill Hill."
- First Hill is situated near the new Amazon campus, making it a top choice amongst the tech industry experts who are flocking to Seattle in search of jobs.
- A relatively new streetcar links First Hill to many other bustling neighborhoods and regions within the city.
What's Happening with the First Hill Housing Market?
In short, the First Hill housing market is hot. Within this neighborhood, there are cozy apartments, luxurious townhomes and historic mansions for buyers to choose from. The diverse range of real estate makes it a top pick amongst recent and established residents in Seattle. It's situated in a spot that allows residents to get to the top tech jobs in the area, to entertain themselves downtown and to enjoy the peace and tranquility of other outlying neighborhoods. The location combined with the relative affordability means that this neighborhood is in high demand amongst buyers who are looking for realistic housing options in the city.
Why is This Neighborhood Topping the Charts?
First Hill earning the top spot for expected home sales in the country for the rest of this year isn't a huge surprise. Its affordable prices combined with its near-perfect location in the nation's hottest housing market makes it an easy pick. About 73 percent of homes in this neighborhood have sold for above their asking price, which is a direct indication that buyers are interested in this neighborhood and willing to go the extra mile to get into a home here.
Regardless of where buyers want to buy in or around Seattle, buyers need to accept the reality that they will be facing steep competition during the real estate search. To ensure a successful transaction in this region, you will want to partner with a qualified real estate team that specializes in the local market. For more information on property available in First Hill and all of the Seattle homes for sale, contact us today.