Capitol Hill Seattle single family homes for under $600,000; what’s currently available?
Map showing single family home sales in greater Capitol Hill area
The Capitol Hill neighborhood in Seattle is an eclectic mix of different lifestyles and architecture and being close to downtown Seattle, a popular place to live. It covers the full spectrum from “cheap” rentals to multi-million dollar mansions. Capitol Hill real estate is definitely one of the more expensive areas in the Seattle.
I looked at recent single family home sales in the “greater” Capitol Hill area that lies NE of downtown Seattle (zip codes 98102 and 98112) as shown on the map opposite. This area lies east of I-5, north of Madison Ave, south of Union Bay and west of Lake Washington. The data was generated from recorded sales between July 1st and December 31st of 2011 from the NWMLS and Realist. Also, I used the MLS listed number of bedrooms as opposed to the tax records number since the homes had recently sold and the MLS number should be more up to date. The term single family homes refers to houses and townhomes. Note that distressed properties were not included (short sales and bank-owned homes).
The median sale price of Capitol Hill single family homes based on the number of bedrooms, shows the following:
Comparison of median sale price of Capitol Hill area single family homes based on number of bedrooms over last 6 months of 2011.
Note that median sale price, is the sale price at which half the homes sold for more than that price and half the homes sold for below that price.
For a 3 bedroom single family home in the greater Capitol Hill area, the median sale price was $717,500 which is a lot higher than other neighborhoods. For example in Ballard, the equivalent median price is $410,000 for a 3 bedroom home and in Wallingford is $550,000.
The number of Capitol Hill single family homes that sold for each bedroom size during this time period were as follows:
- 2 beds = 17 sold
- 3 beds = 52 sold
- 4 beds = 49 sold
- 5 or more beds = 21 sold
So what houses and townhomes are currently available in the Capitol Hill area of Seattle for under $600,000 with a minimum of 2 bedrooms and 1 bathroom?
