Many people think that Seattle’s suburban real estate market is even hotter than Seattle’s real estate market. And if you are looking in Bellevue, Kirkland, or Woodinville you are correct in thinking that these suburban real estate markets are even hotter than Seattle.
So before we talk about what homes you can buy for under $1 million in Seattle’s suburban real estate market, let’s talk numbers.
Seattle is Still a Hot Market
If you’ve somehow avoided hearing all the tales this year about crazy multiple offers, or if you’ve missed out on seeing our “Coffee with Roy” series about the Seattle Real Estate Market, just watch this video to the end. Now, y’all know we Diva’s love stats!
Northeast Seattle’s Real Estate Market
Let’s dig into a Northeast Seattle (this would be Northgate, Meadowbrook, Wedgwood, Pinehurst, etc…). If you are looking to buy a home in Northeast Seattle right now, you can expect some major competition. Why? Demand, demand, demand. Incredibly low inventory + high demand = high prices.
- Demand Rate: Right now in Northeast Seattle, the demand rate is 0.36. Basically, there are about 3 buyers for every home listed in this area.
- Average Price of a Home: Year to date, the average price in Northeast Seattle is $1.1 million.
- Multiple Offer Market: Homes are selling in an average of 7 days at 17% over the list price.
That is a lot of multiple offers. (Multiple offers Team Diva Real Estate’s buyers are winning, by the way. Just in case you want some insider tips check out our “How to Win a Multiple Offer” video!
Where Can You Buy a home for Under $1,000,000 in Seattle’s Suburban Real Estate Market?
Have you ventured up to Shoreline? Shoreline sits just to the north of Seattle, Washington, and is a great location for buyers who feel priced out of Seattle’s real estate market. Shoreline is also particularly great because here, you don’t have to live too far afield from the joys of urban life.
With the average price point in Seattle topping out over $1 million, Shoreline might just be the perfect place for you to start your home buying journey.
What Can You Buy Under $1,000,000 in Seattle’s Suburban Real Estate Market?
As we have chatted a great alternative to buying in Seattle’s real estate market is to buy a home in Shoreline, which sits just north of 145th street. Seattle’s suburban real estate market is still hot, but way more affordable!
Shoreline’s Real Estate Market
- Demand Rate: Right now in Northeast Seattle, the demand rate is 0.38. The demand is the same as Seattle but the price point is a smidge lower.
- Average Price of a Home: Shoreline has an average home price of $842,000 compared to $1.1.million in Northeast Seattle. That’s right—you’re looking at a difference of $250,000.
- Multiple Offer Market: Homes in Shoreline spend an average of 13 days on the market, and the average list to sale price is 113%
Now, that’s worth an extra 15/20 block drive or a few extra stops on the soon-to-be-open Light Rail Station!
Luckily for Divaland, You Can Buy This Updated Home in Seattle’s Shoreline Neighborhood for $750,000!
So, what type of home can you buy for under $1,000,000 in Seattle’s suburban real estate market? You can buy this upgraded mid-century modern home right here in Shoreline priced at $750,000! I am absolutely loving the spacious living room with original hardwood floors and a cool brick fireplace. There’s also a fab owner’s suite (more on than in a moment), plus a 2nd bedroom and 2nd full bath (I mean really, who wants to share?!). Of course, we asked our Diva Dwellers what they love most about this upgraded mid-century modern home in Shoreline, and, well, it was pretty hard to choose.
More Details About the Home
- MLS #1927286
- Address: 15816 25th Ave NE, Shoreline
- Listing Brokers: Kim V Colaprete and Michael Jouver
- Square Footage: 1,190
- Bedrooms: 2
- Bathrooms: 1.75
- Parking: 4 + with the Detached Garage and Driveway
How To Buy A Home in Seattle’s Suburban Real Estate Market
Let’s get down and dirty. Owning a home in Seattle is an amazing experience and it can be fun. Do not listen to all of those cranky folks who think Seattle is not what it used to be and a middle-income owner cannot afford to buy a home in Seattle. Strap in, get yourself some strong Seattle coffee and learn how to be a smart and savvy home buyer in Seattle.
Steps For Buying a Home in Seattle
- Find Your Guide: Find an agent that is super savvy and will be your ultimate navigator.
- Choose Your Priorities: Size, Condition, Or Location?
- Home Buyer Intake Process: Schedule a sit-down meeting with you and your real estate team to dive into what you want in a home.
- Financing: Get your financial house in order.
- Big Search: The big home search in Seattle
- Making an Offer: Know what you need and how to prepare yourself to make an offer.
- You Are In Contract: You’ve signed on the dotted line. Now… the hard work really starts.
- Inspecting Your Home: What to look for, how to hire an inspector, and how to respond to the inspection.
- Reviewing The Title Report: The title report is often the most overlooked portion of the buyer’s review.
- Reviewing the HOA/Resale Certificate (for Condos): …Also an overlooked portion of the buyer’s review process.
- Appraisal Process: Most homes are purchased with a home loan. The appraisal determines the final value by your lender for your home.
- Final Loan Approval: All kinds of things can come up during the final loan approval process, so be prepared.
- Final Two Weeks of the Process: Walkthrough, inspection resolution, and (for god’s sake) do not make a huge purchase on a credit card.
- Signing Your Final Homeowner Documents: You made it!
- Closing Day: You get the keys and access to your home.
This is just a starting point. We have so much more to share about the home buying process. Browse our Home Buyer page for a comprehensive home buying education.
Thank You For Learning About What Can You Buy for Under $1,000,000 in Seattle’s Suburban Real Estate Market
Well, there you have it! What type of house can you buy for under $1 million in Seattle’s Suburban Real Estate Market? You can buy this upgraded mid-century home in Seattle’s suburban real estate market, aka in Shoreline just north of Seattle. There’s a long list of features to love about this upgraded mid-century Shoreline home. A few of our seller’s favorites include the owner’s suite, the brand new kitchen, and the amazing outdoor setting.
Thinking about buying this mid-century home? Check out our Seattle Homebuyer Page so you can be a savvy smart buyer in Seattle’s hot home market.