Markets That Matter | First Hill

By Alyssa Morrison |
This article first appeared in Realogics Sotheby’s International Realty’s 2023 Forecast Report. To get your digital or print copy of this comprehensive look at the Pacific Northwest’s ever-changing residential real estate landscape click here.

Sophistication and practicality; connectedness and proximity; First Hill is akin to its surrounding neighborhoods—Downtown, Capitol Hill, the Central District, and Cherry Hill—yet is entirely distinctive, with amenities incomparable to the rest of the city. As one of Seattle’s premier neighborhoods, this in-city locale offers easy access to public transportation, a near-perfect Walk Score®, and an opportunity for luxe homeownership at one of the last few new developments in the city.

In Seattle, some names are unmistakable—Charles Frye, Morgan Carkeek, and William Boeing to name a few. These last names can be seen across the city today, but in the 1890s, these and other elite city residents called First Hill home. While the neighborhood looks increasingly different since they took up residence, one aspect continues to remain true: there is an air of sophistication with nods to Seattle’s heritage. A few residential homes continue to dot the streets of this bustling enclave, but the progress over the last century here is seen in stellar condominiums that provide access to all of the amenities one could want at their doorstep. Graced by history and urbanity, a trip down the sidewalk offers a mix of modern living with touches of distinct architecture and timeless style.

Now, more than ever before, may be the best time to call First Hill home. As Graystone opens—projected for the summer of 2023—it’s the last new condominium development in the city in the foreseeable future. For residents of First Hill, convenience is first and foremost. Steps from the LINK Light Rail, but even closer to the Seattle Streetcar, along with numerous bus lines and easy ride-share opportunities, getting around is incredibly simple, if you need to go anywhere at all. Pick up your morning coffee from Sugar Bakery and Café on Madison. Quintessential watering holes invite, like The Hideout. And eclectic menus cater to diverse tastes along the streets that surround “Pill Hill.” Yes—the most convenient and unique aspect of this evolving neighborhood steeped in history is its proximity to the area’s premier medical facilities. Top doctors and specialists in their fields work, if not also live and play, in the neighborhood as well, with three major hospitals all centrally located here.

You can always change and update your home’s wall color, fixtures and appliances, and in many cases, you can adjust the layout and the floor plan of your home. But when you purchase a home, you are choosing a city, town, neighborhood—and these aren’t as easy to update with a paint sample and a brush.

Where you live matters. In 2023, we’re focusing on five different communities across the Puget Sound that offer specific opportunities for new residents. For some, it’s a rare influx of housing availability, for others it’s about yet-untapped city growth or the anticipation of equity gains in a transitioning city center, and for some the focus is on the unique opportunities that offer a lifestyle unlike any other across the region.

The real market that matters is the one that you live in, move to, work in, or retreat to when you’re ready for an escape.
We invite you to explore these communities and imagine your day-to-day in a different locale. As you think about your next destination, whatever your home goals may be, discuss with your Realogics Sotheby’s International Realty real estate advisor what you want out of your next neighborhood—our local expertise could help you find a hidden gem in an unexpected location.

Get your copy of the 2023 Forecast Report here →
Explore more Markets that Matter → 

Poulsbo | Snohomish | First Hill | Sammamish | Gig Harbor