For people who work in Issaquah or the neighboring city of Seattle, Squak Mountain has become a top contender when it comes to choosing the right neighborhood to call home. Named after the park with the same name, this neighborhood provides residents with perfect views of both the mountains and the water. This area has become a real estate hot spot. With so many people ready to move to the area, real estate trends look good for the long haul.
Median Housing Prices
When compared to Seattle, you can save just around 10 thousand by choosing to move to Squak Mountain in Issaquah instead. Homebuyers can expect to pay about $720,000 on average. However, there are homes priced about $400,000, while others are closer to $1.5 million. Home values have increased by about 9-percent over the past year.
Housing prices are expected to drop just a bit over the next few months, but this is no different from other cities in the region. However, it’s important to note that it’s predicted for prices to still be higher than at the same time last year. Those looking to save money on their next home purchase may want to consider other nearby neighborhoods, such as Talus or Issaquah Valley.
Renting in Squak Mountain comes with a premium. The median rental rate is just over $3,200 a month. This is much higher than Seattle and only slightly more than other areas of Issaquah. Much of this is due to the types of rental properties that are available. Those choosing to rent here are getting larger homes, which of course come with a larger contracted rental rate.
With more than 80-percent of the residents owning their own homes, it’s sometimes difficult to find rental properties in the neighborhood. When properties do enter the market, they’re rented out almost immediately. Working with a realtor is one way to find a great rental property before someone else does.
One reason why the housing market is Squak Mountain stays so competitive is because of the public-school system. The Issaquah School District is highly praised in the state. Students tend to score highly on all standardized tests, and the graduation rate from the high schools is very high. Most people who live here are married, and many of them have children still living at home.
Low Crime Rate
This upscale neighborhood also has a low crime rate. In fact, only a handful of crimes are reported each year. Most of the crimes being reported are thefts of items from vehicles. Residents consider the area to be very safe, and it has a much lower crime rate than other areas in King County. Once again, this statistic is another reason why housing prices are still holding strong.
While the real estate market in Squak Mountain does follow the same trends as other close areas, the housing prices are still some of the highest around. When prices drop, it’s only by a small percentage. However, when values go up, they often skyrocket. Those living in the neighborhood often stay for many years, and potential residents should plan on saving up before purchasing their home in the area. Home
Discover: What is Issaquah Salmon Days?