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As of late 2020, home values have climbed in many U.S. markets. Despite the ongoing health crisis, the real estate market across the US has been healthy. And certain zip codes continue to be some of the most expensive in the nation.
The Pacific Northwest, in particular, boasts some of the more expensive zip codes in the US. More specifically, it’s Washington State that tends to have more expensive home prices. In fact, Washington State has all the top 10 most expensive zip codes in the entire Pacific Northwest.
According to real estate research firm Zillow, the average home price in the US increased 7.5% over the past year and now sits at $263,351. Zillow expects prices will continue on their healthy upward trend and will increase 10.3% over the next year.
The price at which a home sells is determined by the economic force of supply-and-demand but location and amenities matter, too; establishing a baseline from which supply-and-demand can work.
Using data compiled by real estate market data firm Zillow recently presented America’s we present the 10 most expensive ZIP codes in Washington State for 2020.
This list may be interesting but, to home buyers or sellers in Seattle, it’s far from the final word in home values. Real estate remains a local market which means that — even within a given ZIP code — prices can vary based on street and neighborhood, and home characteristics.
Look past the general data and get to the specifics. Talk to your real estate agent for local market pricing.
If you’re in need of a mortgage, we can help. Sammamish Mortgage is a mortgage firm that has been serving the Pacific Northwest region, including Washington, Idaho, Colorado, and Oregon since 1992. We offer a number of mortgage programs with flexible qualification criteria. Please contact us if you have any questions or are ready to apply for a mortgage.