40% of Seattle homes are listed at $1M or more

Nearly 40 percent of single-family homes listed in Seattle during February were listed at $1 million or more. It seems like a whole lot—but Seattle actually ranked 10th in seven-plus-digit listings for King County.

Real estate listing site Estately crunched some numbers for single family homes in 20 cities in King County, and found that Seattle had the 10th highest percentage of million-dollar-plus listings.

At the top: Mercer Island, with a whopping 95.8 percent. It’s not a huge surprise; the town is not exactly known for affordable real estate. The current cheapest listing for a single-family home, touted as an “excellent opportunity to own an affordable home,” is $875,000.

Bellevue, with all its well-preserved, Boeing-boom, midcentury homes with views, took second, with 81 percent of its listings over $1 million. Redmond was the seventh highest, with 45.5%. Notably, both those cities outpace Seattle in rent, too.

Sammamish, Issaquah, Kirkland, Lake Forest Park, Renton, and Shoreline also topped Seattle. Some of those cities may have lower median home values than the city—but they either had a very expensive month or some very expensive neighborhoods.

So where in King County are the listings still exclusively in the six-digit range? No single family homes in SeaTac, Maple Valley, or Kenmore made it past $1 million in February.

• February studies show increase in one bedroom rent [CS]
• Five of the most affordable homes in Seatac [CS]