10 Best Housing Markets in and Around the Puget Sound

Below is a listing of the best housing markets in and around Puget Sound. This top 10 list includes information on each town's population, median housing prices, median days on the market, it's sale to list price, and more.

10 Exceptional Puget Sound Cities in 2022

1. Redmond

Redmond, Washington is considered not only one of the best places to live in Washington but also one of the best in the entire country and is at the top of our list for best 2022 Puget Sound housing markets. It is located in King County with a population of about 70,000 people. According to local residents and guides, the area has plenty to offer, such as high rankings for diversity, public schools, housing, and is considered one of the best for raising families. Redmond is a town with a lot to offer. It is home to mega tech giants Microsoft and Nintendo, and is famously known for being the "Bicycle Capital of the Northwest". It also has many parks, lakes, and has the Microsoft Visitor Center, where you can not only explore its history but try out different Microsoft products. When it comes to housing, The median home value for this town is about 700,000, with about 50% consisting of rental property. Typically, houses in this area have increased between 50% to 135% in value from the years 2010 to 2022. One house, for example, sold for 767,000 in 2016 and is now worth 1,550,000- a 102% increase in just 6 years. The sale to list price for Redmond is around 118%. Meaning about 18% of people have sold their homes above the asking price for this area. Property taxes range dramatically for this area due to variations in tax assessments, from about $600 to almost $10,000 a year. HOA fees also have a wide range, with some areas of about $40 a year, while others have $400 per month in fees.

2. Clyde Hill

Clyde Hill is located in King County is a perfect spot for those who would like a more "small town" feel. With just under 4,000 residents, Clyde Hill is ideal for those who would like access to many different attractions and events bigger cities have to offer. Cylde Hill is just 6 minutes away from Bellevue and is considered a suburb of Seattle, with Seattle being just 12 minutes away by car. It has also been ranked as #1 as the best place to raise a family in the entire state of Washington. When it comes to housing, due to the area being rather small, with an area of about 1 mile, it may be difficult to accurately assess current home values. However, homes in this area are usually sold in between 2.5 million to about 11 million. One home saw an 83% jump in listing price in just under four years. Property tax for this area ranges, but one home as an example had about $22,000 in annual property tax. The median days a house is on the market are about 45 days. The sale to list price ratio is about 105%. So about 5% of people looking to buy homes sold above the asking price.

3. Bellevue

Bellevue is settled in King County, Washington and has a population of about 144,000 people. Bellevue is home to many different attractions. Including many parks, museums, golf courses, and it even has a botanical garden. According to Niche.com, it is in a number of "Top 10 in America" lists. It is #3 in the country in public schools, #5 in the best area for outdoor activities, #6 in the healthiest city to live in, and finally, it is considered #7 best city to raise a family. The median home value for Bellevue is about 1.4 to 1.5 million, with a price increase of 25.7% in just the past year. One home saw a 105% increase in price from the year 2016 to 2022. About 53% of homes are owned, slightly lower than the King County average of 58%.

HOA fees are typically low, ranging from about $11 a month to about $50. The median days a house is on the market is about 37 days. The sale to price ratio for this area is about 108%.

4. Sammamish

Sammamish is located in King County on a plateau with a population of about 65,000 residents. Sammamish is home to many scenic and intriguing attractions. Including a wallaby ranch, many parks, nature trails, indoor rock climbing, a petting zoo, and a local farmer’s market. Sammamish sits at the top or near the top in many categories. According to SeattlePI.com, Sammamish has been rated the best small city two years in a row for the entire United States. The median home value for this town is around 830,000, with a majority of the population owning their homes, sitting at a whopping 86%. The median listing price for Sammamish is 1.5 million. The median listing price increases at a rate of about 24% per year. In fact, from just the months of November to December of 2021, the market saw an increase in listing prices from 1.4 million to well over 1.5 million. Some homes in Sammamish do not have an HOA, but the prices range from about $45-$165+ a month to $175+ annually. Property taxes are also a slight range depending on the tax assessment. From about $7,000 to $9,000+ a year.

5. Mercer Island

Mercer Island is located in King County in-between Seattle and Bellevue on the Lake of Washington. With a population of about 26,000 people, it is considered one of the wealthiest areas in Washington State. It is home to celebrities such as Microsoft co-founder Paul Allen, the comedian Joel McHale, and Howard Lewis, the former Nintendo chairman now CEO of the Seattle Mariners. There are many offerings on Mercer Island. Including parks, hiking trails, an independent bookstore, wine tasting, famous candy stores, restaurants, beaches, and art galleries. The median home listing price is about 2.1 million with about 69% of residents owning their homes. The median listing price increases an astonishing 35% per year. One example of this jump is a house currently listed for 2 million dollars. In 2020, just two years before, the house listing price was 1 million dollars-a 100% increase. The sale to list price ratio is about 108%, with houses sitting on the market for about 51 days on average. It is not common for houses in this area to have Home Owner Associations. Property taxes vary widely, from about $7,000 annually to over $13,000.

6. Issaquah

Issaquah which means "the sound of water birds" is situated in King County, Washington with a population of about 38,000 people. Issaquah has many opportunities for outdoor enjoyment as well as scenic, natural beauty. It is the perfect spot for hiking up Tiger Mountain, going to nearby parks and nature trails, or visiting the zoo or a museum. It is also the corporate headquarters for the retail giant Costco. The median listing price for a home is about 1 million. With a slight majority 61%, of residents owning their homes. The median listing price from year to year has skyrocketed to 43%. In some areas in Issaquah it’s closer to a 70% increase. For instance, A median listing price of $699,000 in January of 2021 is now at $1,000,000 in January of 2022. The sale to price ratio is about 103%, and homes sit on the market for about 40 days before they are sold. Typical HOA fees (if applicable) for this area range from $50 to $200+ a month. Property tax has a wide range, from about $3,000 a year and jumping up to $40,000.

7. Newcastle

Newcastle Washington is a town that is located about 12 miles directly south of Bellevue. It has a population of about 12,000 people and has The Golfclub at Newcastle, which is a 350-acre golf megaplex. A great option for golf lovers. It also has many tours, such as an underground tour, it has many parks, restaurants, a library, and a wonderful view of Lake Washington. The median listing price for a home is about 1 million. Housing prices from year to year are actually on a downward trend, going down about -4.5% annually. The sale to list ratio is about 115%. Currently, 76% of residents of Newcastle are homeowners. Property taxes for this area range from about $6,000 to $10,000 annually. HOA fees are not common in this town. Newcastle, like the other towns on this list, is considered a sellers’ market, and houses average about 35 days on the market before being sold.

8. Kirkland

Kirkland, Washington is located in King County, north of Bellevue right on the coast by Lake Washington. With a population of about 92,000 people, Kirkland is home to many interesting activities and opportunities to sightsee. Including Hot Tub Boats, visiting the Waterfall Garden, hiking at Goldmyer Springs, going to an indoor gun range, golfing, or visiting the Zoomazium. The average listing price for a home is about 1.3 million, with an upward sale price trend of about 28% annually. A slight majority of residents own their home, which sits at a percentage of about 63%. Houses range greatly in price, from about $795,000 to 13 million. With this in mind, property tax usually ranges from $6,000 a year to about $21,000. HOA fees are not very common but expect to pay from $38 to $115 a month for areas that have a Home Owners Association. The sale to list ratio is about 104%, and the median days a house is on the market is about 36 days.

9. Lake Forest Park

Lake Forest Park is a quaint little town with a population of about 13,000 residents. It is located about 13 miles northeast of Seattle. According to Niche.com, it is the #10 best suburb to live in Washington State. It is home to many parks, including Grace Cole Nature Park, Horizon View Park, and they have an art gallery, as well as a nice bookstore/coffee shop that many locals frequent. The median listing price is about $750,000 and home price listings typically go up about 11% per year. So far, 80% of residents own their homes. House prices range from about $750,000 to 2.2 million. There are most likely no HOA fees for this area. The sale to list ratio sits at about 108%. The median number of days houses sit on the market is about 33 days.

10. Woodway

Woodway Washington is located in Snohomish County with a population of a little over 1,100 residents. Being the smallest town on this list, it is located opposite Lake Forest Park, about 17 miles northwest of Seattle, off the coast of Lake Washington. It is full of beaches, parks, a botanical garden, and great views of the lake. It also has an arcade, weekend farmers' markets, and according to Niche.com, it is considered the number one place to retire in the whole state of Washington. Due to it being such a small town, there are not much housing data available. However, house prices vary from about 1 million to 17 million. About 97% of residents own their homes, and it has more of a rural feel to the area, compared to a more suburban feel from the other towns on this list.

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