Few bright spots for Seattle home prices in next year

Updated:

Loading

SEATTLE - New housing numbers from Seattle-based Zillow show Seattle home prices may drop even further over the next year.

 

But there are some neighborhoods that are seeing growth, such as the Admiral neighborhood of West Seattle.

 

Instead of falling, like most other neighborhoods in King, Pierce, and Snohomish counties, home prices there have seen an increase from last year.

 

It's a modest increase, but the northern tip of West Seattle has seen a bump in value of 1.6 percent year over year, according to Zillow.

 

The Denny Triangle in the South Lake Union area is the only other neighborhood in Seattle that has seen an increase, with a rise of 6.5 percent in value.

 

That neighborhood is filled with condos and a revitalized business core.

 

Amazon has recently moved to the neighborhood, and several of the biotech industry startups are also setting up shop there as well as restaurants and retail shops.

 

The increase in home values doesn't surprise Dave Figueroa, who runs a dog bakery shop and lives in the neighborhood.

 

"You know, if you just look around the South Lake Union area, it's amazing.  There are cranes in the air again.  You know, we didn't see that for a few years.  So, I think the future is bright, particularly for this area," said Figueroa.

 

The only neighborhood in Pierce County that saw an increase in home prices from 2011 was in the city of DuPont, near Joint Base Lewis McChord.

 

See all Zillow home values for the Seattle-Metro area.