Buying land in Seattle or King County to develop your own home is not for everyone. It can be a rather massive and demanding undertaking for the novice, but that's not to say it can't be done. Like any purchase or sale, it simply takes aligning the right property with the particular goals of that client.
So, for those considering buying land in Seattle or King County, here are some basic MLS data points and trends that will help paint the picture of what to expect.
For starters, there is actually quite a bit of vacant land available for purchase that gets listed on the multiple listing service. This April, there were 626 properties for buyers to choose from in King County and 76 available in Seattle, a city considered to be generally lacking in vacant land.
However, the properties for sale can be a bit misleading, since many of these properties will have significant restrictions and impediments for development that keep them from being a feasible option for the price they're asking - restrictions like setback requirements, sensitive area protections, slopes, etc.
So how much does vacant land cost in Seattle and King County? For properties listed and sold through our local multiple listing service, the most recent median selling price in March was $520,090 for Seattle and $277,500 for King County.
Of course, these numbers aren't reflective of the off-market purchases by developers who have full-time employees, marketing budgets, and business plans dedicated to sourcing properties that will be financially feasible for development or re-development.