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Seattle Region Sees Number of Million-Dollar Homes Triple in Four Years

It's not as crazy as Northern California but the Puget Sound region has seen a shocking escalation in the number of million-dollar homes

As the housing market has taken off in recent years, the number of million-dollar homes has followed suit. We've certainly seen our share around Seattle, especially when you include the Eastside, and based on numbers from real-estate site Trulia, the Seattle region is now among the ten fastest-growing markets when it comes to seven-figure home sales.

From 2.5 percent to seven percent in four years is some pretty staggering growth for the region. As Trulia notes, the biggest growth has come not in Seattle but across Lake Washington.

The Bridle Trails neighborhood of Bellevue has witnessed the largest increase, but Market-Downtown in Kirkland is a close second. Each has seen increase of million dollar homes by over 34 percentage points, while the other three neighborhoods have seen increases of 29-34 percentage points.

Along with Bridle Trails and Downtown Kirkland, the other neighborhoods that saw the biggest gains in seven-digit home sales include Seattle's Montlake (33.9 percent), Laurelhurst (33.7 percent) and Bellevue's Enatai (29.2 percent).

Want to go where the million-dollar homes are not? You'll have to head to North Delridge or Georgetown, two of only five region neighborhoods that saw a drop.

Some silver linings for those of us who can't afford such real estate? Well, it could be worse. San Francisco, San Jose, and Oakland have seen astronomical growth in four years, all of which are up in double-digits over that time. No wonder everyone from California is moving here.
· Million-Dollar Homes New Normal in Top Urban Markets, Says Report [CS]
· Million-dollar-home count triples across Seattle area in 4 years [ST]
· Million Dollar Creep: Where Seven Figure Homes are the New Normal [Trulia]