The Accuracy of the Trend Projection for Seattle is 91%. The evidence? RealWorld Careers Contact Sales 1.877.325.7243. Washington market trends and housing statistics. The Zip codes cover areas on both sides and around Lake Washington. How Do You Find a Buyer’s Market in the US Housing Market in 2018? The mortgage rate forecast for 2021 is that rates will remain low. carried out during COVID-19 is a pretty great accomplishment. In the. Bellevue and Seattle are the neighboring Northwest Cities – just a few miles apart and separated by a lake and a few floating bridges. In the Seattle housing market forecast 2021 is rising prices. What Kind of Airbnb Occupancy Rate Can You Expect? GPS Renting is a Seattle Property Management Company. January listings averaged $410 per SQ.FT. Then coronavirus came. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in 2021. Mashvisor’s data shows that the, Another prediction brought about by the coronavirus was the bursting of housing bubbles all across the nation and a housing market crash. New York Real Estate Market Forecast for 2021, New Orleans Real Estate Market 2020: 4 Trends, Everything You Need to Know About Investing in Micro Apartments, 4 Airbnb Industry Trends to Watch For in 2021, How Technology Can Transform Your Real Estate Investment Business, The Student Debt Crisis and Its Effect on Real Estate, What the 0% Interest Rate Means for Mortgage Rates, Major Signs That a Real Estate Seller’s Market Is Near. Mashvisor’s data also shows that Seattle real estate investors are continuing to enjoy a good return on investment on rental properties: 2020 has been a generally positive year for Seattle real estate. Such a loss of population would probably mean a drop in Seattle home prices as there would be less demand for real estate and a simultaneous rise in housing inventory. If you have any questions or thoughts about buying, selling or renting a home in Seattle, please reach us @ (425) 243-5082, hi@gpsrenting.com. Seattle Trends / February 11, 2021 2555. Fannie Mae predicts that they will go as low as 2.9% next year. Property Maintenance 101 – How to fix a Leaky Faucet, Rental verification, please email request to, Exclusive Benefit for GPS’s Landlord – Bathroom Updating Discount. Use analytics to find lucrative traditional or Airbnb properties in a matter of minutes. Even if these homeowners were to flood back into the market in 2021, it probably won’t be enough listings to boost the housing inventory in the Seattle real estate market significantly. So many are speculating whether or not the Seattle housing market will be negatively impacted by the “urban exodus” – the move from large cities to smaller, leaving places like San Francisco for Seattle, for the current housing market (September 2020), we can see that active listings sit at 6,028 for the Seattle metro area. 3 Early Signs of a Real Estate Market Downturn and What to Do. The Seattle housing market prediction for prices? Realtor.com's forecast and housing market predictions on key trends that will shape the year ahead. As of October, the Index sits at around 120. It is important to note that any areas hit by wildfires may see a drop in home prices from now until next year, however. These Seattle area market trends are useful for sellers and buyers. United States Housing Market. On December 2, a team of analysts and economists from Realtor.com published a housing market report for 2021. GPS Renting is a Seattle Property Management Company. Days on market is one indicator of a seller’s market and currently, it is 35 (down 18% YoY) for the metro area. Our next prediction will help you with this. 1,500 completed transactions, a 37.9 percent decrease from last month and a significant 13.9 percent increase from the same period last year. Not only is it a large city, but it’s quite infamous for being expensive, having the 9th highest cost of living in the nation. Referring back to Realtor’s data, we can see that the median list price for the Seattle metro area in September 2020 has actually gone up: Even more remarkable, Seattle recorded a 7% YoY increase in house prices in July, the second-largest gains among the top 20 cities tracked by the S&P CoreLogic Case-Shiller Index. With a population of 753,675, 323,446 total housing units (homes and apartments), and a median house value of $789,023, Seattle house prices are not only among the most expensive in Washington, Seattle real estate also … However, the Seattle housing market forecast on this front tells us this is not likely to happen. Support Enterprise Business Continuity Plan COVID-19 Resources. Stay up-to-date with the latest market research from Kidder Mathews by subscribing to our commercial real estate market reports. Nonetheless, there are other extraordinary performing urban communities in Washington State that merit looking further into for land putting resources into 2019. Login. The real estate market in Seattle is approaching year 4 of massive price gains. Redfin reports that the average selling price of Seattle houses for sale is $675,000; meaning Seattle house prices are down 0.44 percent from last year. In other words, when tested against historical data, the forecasting methodology was correct 91% of the time. Learn More: How to Find Investment Property in the Seattle Real Estate Market. With the Seattle housing market predictions 2021 of rising prices and no major exodus, it is very likely rental demand will continue to rise. Really, the Seattle housing market is thriving. However, the Bellevue real estate market can best be understood in relation to the Seattle housing market. The average price of a Single Family Home in January was $917,000, 1.5 percent decrease from the previous month and a significant 21.1 percent increase from the same month last year. As a real estate writer, she has been covering topics for the beginner and advanced real estate investor, helping them make smarter decisions as well as real estate agents looking to take their business to the next level. Required fields are marked *. According to Zillow, housing prices are going to continue to rise in 2018, though not as steeply as they have risen in recent years. The forecast for the trend in the Seattle housing market for the 12 months ending with the 3rd Quarter of 2019 is UP. Related: Will the 2021 US Housing Market Be a Buyer’s Market or a Seller’s Market? Below are the links to real estate data for over fifty zip codes. 2020 was $512. Low inventory, high buyer demand … Related: The Effect of the Coronavirus on the Seattle Real Estate Market, Seattle is the 18th largest city in the United States, by population. The average rent for an apartment in Seattle is $1,933, a 10% decrease compared to the previous year. So many are speculating whether or not the Seattle housing market will be negatively impacted by the “urban exodus” – the move from large cities to smaller, suburban and rural areas in search of more space and, more importantly, affordability.Â. How to Find Investment Property in the Seattle Real Estate Market. The median list price in Seattle went down 2% from 2020 to 2021. The, Although affordability continues to be an issue for local residents, it does have a positive aspect for Seattle real estate investors. Really, the Seattle housing market is thriving. Housing Starts Historical Chart. This would cause house prices to plummet. Then coronavirus came. Home » Seattle Housing Market Trends – 2021/Jan. The neighborhoods on this list were selected because they currently offer rental property investors good cash on cash return in 2020 and are expected to do so in 2021. Will the 2021 US Housing Market Be a Buyer’s Market or a Seller’s Market? And these trends are likely to continue throughout 2021. Although everyone expected demand for real estate and home sales to plummet across the US housing market due to COVID-19, it simply hasn’t. It hasn’t actually been happening in 2020 as many suspected and it probably won’t happen in 2021. What is green lease and how can it benefit you as a landlord? Mashvisor’s data also shows that Seattle real estate investors are continuing to enjoy a good return on investment on rental properties: Seattle is the 18th largest city in the United States, by population. January’s Average Sold Price per Square Footage, For Sale Price and Sold Price is appreciating. These buyers – specifically millennials and first-time homebuyers – are not letting the chance to get historically low mortgage rates pass them by. While not record setting the condo market excelled on all year-over-year measures – … The Seattle housing market is not likely to go through any kind of cooling-down phase in the foreseeable future. GPS Renting is a Seattle Property Management Company. There just aren’t enough homes on the market for the amount of buyers seeking them. It happened why it is so hard for home buyers even during pandemic. This interactive chart tracks housing starts data back to 1959. It’s still a seller’s market. Click on the View Current Listings link to view properties for any neighborhood. Exchange Rates. Here are our Seattle housing market predictions for next year. Another prediction brought about by the coronavirus was the bursting of housing bubbles all across the nation and a housing market crash. Most homes get multiple offers, often with waived contingencies. Home » Seattle Housing Market Trends – 2021/Jan. To be named the #1 best real estate market in. And in general, most experts predict that the housing inventory shortage will continue to be an issue for Seattle next year.Â. Skip to content Main navigation. Home Prices in Seattle As you can see in the Seattle housing market homes in the 350-1 million price range are the most commonly listed and sold. But what will 2021 look like? Stay up to date with the latest tips for Traditional & Airbnb Investments. Here are the best places to invest in real estate in Seattle. Airbnb Takes Legal Action Against a Guest for... How to Calculate the Rate of Return on a Rental Property. This means residents find it much more affordable to live in a Seattle rental property than buying their own homes. Save my name, email, and website in this browser for the next time I comment. Bellevue is the third largest city in the Seattle area and an upscale suburb of Seattle proper. Months of Inventory Based on Pended Sales: January real estate market listings with only 0.6 months of inventory left, 13.6 percent decrease from the previous month and a significant 40 percent decrease from the same month last year. While great for homeowners, acquisition costs became prohibitively expensive in a city where workers were making a lot more than the national average. As these trends will continue into 2021, there is no, The Effect of the Coronavirus on the Seattle Real Estate Market. This drop is likely due to the fact that homeowners in the, Even if these homeowners were to flood back into the market in 2021, it probably won’t be enough listings to boost the housing inventory in the, Although everyone expected demand for real estate and home sales to plummet across the US housing market due to COVID-19, it simply hasn’t. Interest Rates. Commodities. , 0.7 percent increase from last month and 19.5 percent increase from the same month last year. However, prices appreciated at a faster rate than the majority of the country. Hot Homes can sell for about 4% above list price and go pending in around 4 days. As of October, the Index sits at around 120. These house price trends are likely to continue in 2021. Home Buyers Compete for Limited Inventory. GPS Renting is a Seattle Property Management Company. There were 1,103 listings in January, a 4.6 percent decrease from the previous month and a significant 31.4 percent decrease from the same month last year. When discussing the Washington State land showcase, your first idea would presumably go to the Seattle housing market. Your email address will not be published. ft. The current level of housing starts as of December 2020 is 1,669.00 thousand homes. According to Realtor.com’s Housing Market Recovery Index, the Seattle metro area crossed the benchmark for recovery back in June 2020 and has been doing well ever since. According to a recent Seattle Times report, 10.5% of all rental apartments within the city of Seattle are empty — an increase of 9% from a year ago and 7.7% from two years ago. Listed. Average Rent in Seattle, WA. The Seattle real estate market was at the forefront of the national recovery for the better part of a decade. The Seattle housing market continues to see low inventory and high competition last month, January. Seattle housing market continues to see low inventory and high competition making things hard for homebuyers. Resident 24*7 Emergency Line Number: Good news! Really, the Seattle housing market is thriving. January’s Average Sold Price per Square Footage, For Sale Price and Sold Price is appreciating. Seattle, WA Rental Market Trends Highlights. Wish everyone to stay healthy and the Pandemic will be over soon! Keep up with current market performance into the Seattle apartment market including multifamily research, trends, data and articles. Or add us on WeChat @ GPSSeattle to talk about your needs! This is a 26% year over year (YoY) drop. Microsoft to invest $500 million in affordable housing in Seattle; Renting is now cheaper than buying in Vancouver: National Bank of Canada This drop is likely due to the fact that homeowners in the Seattle real estate market are jumping on the low mortgage rates and refinancing or they are still waiting out COVID-19, the presidential election, or even the wildfires. Seattle Housing Market Information. While that will slow somewhat in 2018, the market shows few signs of actually cooling off. In addition to information on the average price of Seattle real estate market listings, you'll also find information on trends for the average days on market, the average price reduction, the average price of homes by bedroom, and other market data. The charts show the vast difference between the price per home and the number of homes available. GPS Renting is a Seattle Property Management Company. The coronavirus pandemic upended nearly every part of life throughout the year — but the Seattle-area housing market stayed strong. The combination of high demand and low inventory is sure to make it so. Your email address will not be published. Bryant; Feb, 10, 2021 ; News, Newsletter; No Comments; The Seattle housing market continues to see low inventory and high competition last month, January. Puget Sound housing market was among nation’s strongest at the start of 2020. Last updated December 2020 Average Rent Y-o-Y Change Average Apartment Size; $1,933-10%: 693 sq. It goes without saying that if high demand and low housing inventory are putting pressure on house prices, you have yourself a seller’s market. Looking at Zillow’s Seattle real estate market forecast for house price appreciation, this prediction is confirmed. , the Seattle metro area crossed the benchmark for recovery back in June 2020 and has been doing well ever since. Seattle’s housing market has been red hot for years, with home prices and rents soaring in recent years. 8 Best Cities for Real Estate Investment 2018: Part 1. And this is putting upward pressure on house values statewide. Owning a rental property in Seattle does mean high demand which translates into good occupancy rates and cash flow. The mortgage rate forecast for 2021 is that rates will remain low. Home prices nationwide were up 13.1% year-over-year in December. GPS Renting is a Seattle Property Management Company. Not only is it a large city, but it’s quite infamous for being expensive, having the 9th highest cost of living in the nation. * Information and statistics derived from Northwest Multiple Listing Service. Seattle Real Estate Price Trends, Housing Market Forecast for next months and years If you are looking for the best real estate investment opportunities in the State of Washington, Seattle City can be a an acceptable option. But you want to make sure that your new Seattle real estate investment is located in a profitable neighborhood. Log in to your account. Currently, the renter population is around 55% according to NeighborhoodScout. This would cause house prices to plummet. Although affordability continues to be an issue for local residents, it does have a positive aspect for Seattle real estate investors. It’s still a seller’s market. Resources Blog Case Studies COVID-19 eBooks Videos Webcasts Podcasts. predicts that they will go as low as 2.9% next year. See also. I’m going to show you a 10 year history of the Seattle housing market. Precious Metals. Zillow sees property values going up by 5.6% from now through August 2021. Curious about Seattle office absorption, unemployment, lease rate, vacancy in the office market and more? With this, the, Even more remarkable, Seattle recorded a 7% YoY increase in house prices in July, the second-largest gains among the top 20 cities tracked by the, Looking at Zillow’s Seattle real estate market forecast for, With Seattle real estate market trends expected to essentially continue on the same trajectory, a seller’s market is in the 2021 forecast. Additionally, this could mean a loss of renters for real estate investors. GPS offers exclusive off-market deals of real estate listings, you don’t have to compete with buyers in the market. Market Indexes. At the same time, the number of homes sold rose 20.2% and the number of homes for sale fell 41.2%. Sometimes it is easier to understand the housing data by looking at it versus reading about it. So if this was keeping you from buying an investment property in Seattle, there’s no need to worry. What’s the Best Airbnb Analytics Platform for 2019? With Seattle real estate market trends expected to essentially continue on the same trajectory, a seller’s market is in the 2021 forecast. According to Zillow, it’s going to be more affordable to invest in Seattle real estate next year than it’s been in years. There are plenty of good reasons for investing in Seattle real estate in 2021. From the January Stats, we are still in a market with an extremely low inventory, buyers are still active, and the number of sold and pended homes is much higher than the number of listings, with that said, the supply is much lower than the demand. With this, the Seattle housing market prediction is that demand and home sales will continue to rise, driven by low mortgage rates. GPS Renting is a Seattle Property Management Company. 1. If you want to get your hands on a Seattle investment property today to enjoy some of the benefits it will bring in 2021 (cash flow and appreciation), start your search here at Mashvisor. Related: Trend: Moving from Seattle to Spokane for a Lower Mortgage Payment. (425) 953-9616, Address: So will the Seattle housing market crash in 2021? See median list price, median house size, median $/Sqft and inventory. Energy. Owning a rental property in Seattle does mean high demand which translates into good occupancy rates and cash flow. Well, it turns out, not only is there no mass exodus, but people are actually leaving places like San Francisco for Seattle. To help you in your decision see the estimated home prices and values in Seattle City below. Although COVID-19 had many predicting that major markets like Seattle would fall into a buyer’s market quickly, this simply has not been the case. As of October, the Index sits at around 120. GPS Renting is a Seattle Property Management Company. Let’s take a look at the most recent housing market stats in King County, Seattle. Homes sell for about 1% above list price and go pending in around 7 days. Looking at Realtor.com’s data for the current housing market (September 2020), we can see that active listings sit at 6,028 for the Seattle metro area. In addition to analyzing trends nationwide, they offered real estate predictions for 100 of the top metro areas in the U.S. Out of those 100 metros, the Seattle area had the #2 housing market forecast in terms of annual home-price growth. Updated monthly, they consist of historical and current data in the form of three data sets: Three-Year Inventory and Sales, Average Days-On-Market, and Average Sold Price. The median list price per square foot in Seattle is $571. However, homes in the 500k-1m price range sold the fastest. Author: Angela Poe Russell Published: 2:19 PM PDT June 14, 2019 Updated: 2:19 PM PDT June 14, 2019 SEATTLE … Seattle’s condominium market surpassed expectations in September. The Seattle housing market has proven to be resilient during the coronavirus pandemic. Mashvisor’s data shows that the price to rent ratio is currently 27. Not likely.Â, For this to happen, a large amount of inventory has to hit the market at the same time that demand drops – drastically so. Economy. However, demand is still rising and inventory still remains tight. GPS Renting is a Seattle Property Management Company. In the three-county Seattle area, the most affordable homes continue to be the hottest commodities on the market. To be named the #1 best real estate market in a study carried out during COVID-19 is a pretty great accomplishment. Even before the virus hit the region, it was quite evident that if the inventory crunches further, affordability will become a bigger issue in the Seattle … Currently, the renter population is around 55% according to NeighborhoodScout. As these trends will continue into 2021, there is no housing market crash in sight.Â. Expect a return to balance for the Seattle-area housing market. This is a 26% year over year (YoY) drop. This month, the real estate research team at Zillow predicted that the median home value in Seattle would decline by -2.6% over the next 12 months. Global Metrics. Prices rose nearly 10% year-over-year among homes that sold for … 6131 NE Bothell Way, Kenmore, WA, 98028. Sylvia is the Content Marketing Manager at Mashvisor. Pended 1,827 homes, 16.1% increase from last month and 13.6% increase from the same period last year. It’s clear that the Seattle housing market 2021 won’t see a boost in inventory due to out-migration. COVID-19 Vaccine to Drive Airbnb Occupancy Rate Recovery... Home Prices Fell During COVID-19 in These Cities, Airbnb Occupancy Rate Up 13% as Market Recovers. In August 2020 the housing market in Ballard is a seller’s market, which means there are roughly more buyers than there are active homes for sale. However, demand is still rising and inventory still remains tight. In the Seattle housing market, as in much of the US, low mortgage rates are driving demand as they are aiding some buyers to get more affordable mortgages. The Seattle-area housing market has remained strong throughout 2020 despite the ongoing coronavirus pandemic upending nearly every part of … So will the, For this to happen, a large amount of inventory has to hit the market at the same time that demand drops – drastically so. Seattle's home resale inventories is 1,113, which increased 22 percent since 2020. March 31, 2020 at 7:05 am Updated March 31, 2020 at 5:25 pm According to Realtor.com’s Housing Market Recovery Index, the Seattle metro area crossed the benchmark for recovery back in June 2020 and has been doing well ever since. Home prices, market trends, COVID-19, the suburban boom, Millennials, Gen Z …