Nearly a third of Seattle homes for sale are listed above $1M
Alec Regimbal,
July 29, 2021Updated July 29, 2021 4:52 p.m.
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A Redfin Real Estate Yard sign is pictured outside a home for sale on October 31, 2017 in Seattle, Washington.
Stephen Brashear / Getty Images for Redfin)
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A Redfin Real Estate Yard sign is pictured outside a home for sale on October 31, 2017 in Seattle, Washington.
Stephen Brashear / Getty Images for Redfin)3from5
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The early morning sun highlights the front of a hill of houses in Seattle, Washington.
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Almost a third of Seattle homes for sale have a list price of at least $ 1 million, according to a new study by an international real estate search portal.
The study conducted by Point2 looked at the number of “luxury homes” for sale in the 30 largest cities in the United States. Seattle ranked seventh on the list with 28.1% of deals over $ 1 million. San Francisco took the top spot with 64.1% of deals over $ 1 million.
San Francisco has also beaten the other 29 cities with housing numbers over $ 3 million (34.2%), while Los Angeles has the largest number of housing at over $ 5 million (11%). Only 3.2% of available homes in Seattle are listed above $ 3 million, and only 1.1% of available homes are listed above $ 5 million.
This graph shows the 14 largest cities with the most available homes over $ 1 million.
Point2
The study also looked at the number of luxury homes for sale in medium and small towns. The study defines medium-sized cities as cities with at least 150,000 inhabitants and small towns as those with at least 50,000 inhabitants.
Tacoma had the seventh most entries over $ 1 million in the medium category. The study says 8% of the city’s available housing is over $ 1 million. The top city on this list is also California – Santa Clarita has 68.6% of available homes above $ 1 million.
Burien also ranked seventh in the small town category, with 7.3% of available homes recording over $ 1 million. The top city on this list is also in – you guessed it – California. In Glendora, 41.2% of available homes are listed above $ 1 million.
“No matter which city they want to move to, American high-end buyers have many options,” write the study authors. “Large, established centers like San Francisco and New York are an obvious choice, but midsize and smaller, emerging markets like Santa Clarita, California, Tacoma, Washington, or Queen Creek, Arizona also have significant stakes in luxury real estate that is on the right Buyers are waiting. “