The residential real estate market for the greater Seattle-Bellevue metro area has been relatively healthy and steady in 2019 after the May 2018 price correction. The sale prices of condominiums and single family homes increased 11.9% from January 2019 to May 2019. Currently, I estimate home values will decrease approximately 6% from June through December to approximately 350-355 $/sqft until January when values likely increase again, which is a net annual value increase of 5.9%.
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According to a recent study by JLL, real estate investors are putting their money into cities with strong technological economies: GeekWire reports that the study “finds a correlation between the real estate investment dollars spent in a community and the strength of its innovation economy.”
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U.S. News recently completed their ranking of the Best States in the nation and our very own Evergreen State topped this year’s list! Washington’s impressive performance may be attributed to the State’s strong economy, coming in at third, second-ranked infrastructure, and health care and education, which both came in at fourth on the list.
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The National Association of Home Builders recently released their monthly confidence index and at 62, February 2019 marks the highest index in the past four months. The index may be broken down into a subset of categories, all of which show impressive gains, including sales conditions at 67, six-month expectations at 68 and buyer traffic at 48.
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Seattle is a crucible of technological innovation. The intersection of computer/data science and biological/chemical sciences will lead to breakthrough in a number of industries, and the Emerald City will increasingly be known as a hub for these intersections of change. As we move into 2019, GeekWire polled six venture capitalists from the Pacific Northwest to offer their insight on what to expect in tech for 2019.
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In a recent special external affairs report, The Counselors of Real Estate® highlighted the Top Ten Issues Affecting Real Estate™ for 2018 – 2019, with a look at five short-term trends and five long-term items the industry should be looking at in the coming months and years. Below, you’ll find an outline of the five most pertinent issues impacting real estate now.
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