An Analysis of Factors Influencing Housing Prices in King County, Washington

Residential real estate is an important part of the economy and household wealth. In King County, Washington, housing prices are affected by many factors, such as living space, location, and property quality. Understanding these factors is useful for buyers, sellers, and investors. This paper investigates the key factors that affect residential property prices in King County, Washington, using a dataset of 21,613 home sales records from May 2014 to May 2015. The analysis focuses on the impact of living space, waterfront location, property grade, and other structural characteristics on sale prices. Through descriptive statistics and correlation analysis, the study reveals a strong positive relationship between living area and price, a significant premium for waterfront properties, and a clear association between higher property grades and increased market value. The findings indicate that physical features such as size and quality, along with location advantages, are primary determinants of housing prices. This research contributes to understanding the dynamics of the King County housing market and provides insights for potential buyers, sellers, and investors.