The US Census Bureau recently released new population statistics that reveal Seattle added just over 17,000 people to its population in 2017, which equates to about 326 people per week or 46 people per day. As Curbed Seattle reports, Seattleites aren’t likely to be surprised at the latest figures, which show “that around 724,745 people lived in the Seattle city limits alone as of July 2017.”
Read MoreWith construction cranes at nearly every turn in downtown Seattle, it is easy for one to look around at all of the high-rises under development and assume they are condominiums. Yet, as Curbed Seattle reports, “the majority of new residential projects going up in the city—and downtown specifically—are destined to be rentals.” This means that out of the multi-family opportunities in the city, only 7.1 percent will be offered for sale. And this is a far-reaching figure, that covers “not just downtown proper, but lower Queen Anne, Belltown, Pioneer Square, Sodo, First Hill and western parts of Capitol Hill.”
Read MoreIn looking at data from last year’s home price growth and number of sales, one clear trend emerges: a lack of available homes for sale was a major theme in Seattle’s market. And as Curbed Seattle reports, “so far this year, inventory has been even more sparse,” as recent Northwest Multiple Listing Service (NWMLS) data shows that there was less than 1 month of available inventory in February, down from just over one month last year.
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