As Puget Sound Business Journal reporter Marc Stiles recently tells readers, “if it looks like there are more construction cranes dotting the city of Seattle’s skyline, it’s because there are.” According to a report released in mid-July by Rider Levett Bucknall, “Seattle’s crane count increased from 45 to 65 from December through May,” which means “Seattle has more cranes than any other U.S. city for the third year in a row.”
Read MoreThe 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 MoreIn a recent real estate column in Seattle Times, reporter Mike Rosenberg asked a question on many minds: “Why are Seattle-area home prices so high?” At the most basic level, it all boils down to two factors: supply and demand.
Read MoreUpon the announcement that Amazon was on the hunt for a second headquarter location, many wondered what impact a new city would have on the company’s presence in Seattle. And as recent activity from the retail giant has shown, it is definitely not slowing things down. According to reports, Amazon “has increased its forecast for the size of its campus in Seattle by about 2 million square feet, the equivalent of three additional skyscrapers,” which means the company will occupy nearly 14 million square feet of office space once current and planed projects are complete.
Read MoreAs Mike Rosenberg of Seattle Times reports, “it’s not just housing prices: Seattle is not the bargain it used to be for companies, either.” Though the Emerald City was historically a bargain compared to other larger cities, “the city’s recent boom driven by Amazon and other tech companies has propelled Seattle up the ranks of the nation’s most expensive places to rent an office, passing Chicago and Los Angeles just in the last three years.” During the three year period, Seattle office rents increased a staggering 31 percent, “about 2 ½ times faster than the national average.”
Read MoreAmidst a strong economy and housing market, long-term mortgage rates in the United States inched upward this week, and as Seattle Times reports, the increase in the cost of borrowing comes “just as more of the millennial generation is entering the real estate market.” According to a release from Freddie Mac earlier this week, “the average rate on 30-year fixed-rate mortgages rose to 4.40 percent, a slight gain from 4.38 percent last week.”
Read MoreA recent feature by Realogics Sotheby’s International Realty proclaims its “Seattle’s New Era of Condos,” as a new development spur is adding more new condominium projects to the city than in the last decade, the population continues to grow, residents and visitors are fueling new in-city attractions, and millennials decide to make the move from renting to homeownership. In addition to its position with the February edition of Portrait of Seattle Magazine, the condo insert was hand delivered to 1,500 broker mailboxes throughout the region, and was included in select copies of Puget Sound Business Journal, Wall Street Journal, Madison Park Times, Capitol Hill Times, Queen Anne & Magnolia Times, Magnolia News, City Living Seattle, The Monroe Monitor, Valley News, Eatonville Dispatch and Marketplace.
Read MoreAs Seattle continues to experience unprecedented economic and population growth, the question on many minds is can the city maintain its hot streak? According to Forbes, it can and will, as they report they're "betting on Seattle to maintain growth for the foreseeable future." The reasons include investment and development, high demand, a strong economy, and more.
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