Seattle is one of only five cities in the nation where home prices are lower now than they were at the same time last year. However, Seattle home prices have taken the largest jump in the latest quarter. The Seattle real estate market looks nearly as expensive as an overheated housing market.
If you’re keen to invest in the Seattle real estate market and buy before prices become out of reach, you must read till the end. Seattle is an expensive real estate market that gives many investors pause.
However, there are many compelling reasons to invest in the Seattle real estate. In this article, our focus will be on what lies ahead in the Seattle real estate market in 2020 for investors and home buyers.
We’ll share 10 reasons here after discussing the fundamentals of the Seattle housing market. Seattle is home to over 700,000 people. This makes the Seattle real estate market the largest in both the state of Washington and the Pacific Northwest.
However, the Seattle housing market is actually bigger than that – it extends to the nearly four million people in the Seattle metropolitan area. If you are a real estate investor, Seattle has a track record of being one of the best long term real estate investments in the nation.
Is Seattle going to be one of the hottest real estate markets for investors in 2020? To answer this tricky question, let’s take a look at the latest Seattle housing market trends and find out the prospects of investing in the Seattle real estate in 2020.
Seattle Real Estate Market News: Prices Take Largest Jump in 12 months
Seattle home prices rose faster in October 2019 than they have for a year. In Seattle, October prices rose 3.3% from a year ago, to $775,000 — the largest percentage increase in 12 months. Tacoma was crowned the nation’s hottest housing market in May. Since then, other midsize cities in Washington state have overtaken its growth.
According to NWMLS, in King County, the median price on last month’s 2,757 completed transactions was $605,000, down about 1.4% from a year ago – one of only two counties where year-over-year prices slipped.
With only 1.63 months of supply of single family homes (excluding condos), King County’s available listing inventory is notably below the national average of four months
In King County, there were 25.7% fewer homes on the market in October 2019 than a year previously. Snohomish and Pierce Counties saw similar dips, of 23.5% and 30.0%.
Condo inventory is only slightly better, at just over two months of inventory, although that could improve with several high rise projects in Seattle and Bellevue in the pipeline.
Home prices in King County peaked this year in May, at $700,000, down from the all-time peak of $726,275 in May 2018. Within Seattle, Magnolia and Queen Anne saw double-digit price growth, compared to last year. The median price last month was $1.18 million, up 15% from last year.
In the last twelve months, Seattle’s real estate appreciation rate has been 0.97%, which is lower than appreciation rates in most communities in the nation. In the latest quarter, NeighborhoodScout’s data shows that house appreciation rates in Seattle were at 0.25%, which equates to an annual appreciation rate of 1.01%.
According to RealPage, a housing market data firm, Seattle has been a top five supply market during the current economic cycle, with only four other markets nationwide recording the completion of more apartments in that time frame: Dallas, Houston, New York and Washington, DC. Since early 2010, the existing apartment base in Seattle has grown a striking 24.4%, nearly double the national norm.
While apartment additions during the current economic cycle have been fairly spread out across the Seattle area, the urban core, consisting of the Downtown, South Lake Union/Queen Anne and Capitol Hill/Central District submarkets, has led the charge, with over 40% of units delivered in these three central areas.
According to Zillow, the median rental price in in Seattle across all properties in June 2019 was up 3.3% year over year, to $2,569. In Bellevue, median rent climbed 3.9%, to $2,835, in the same period, while in King County, the median rent jumped 3.6% over last June, to $2,469.
Seattle’s tech landscape and real estate market are rapidly evolving. Google just upped the size of its new Seattle campus. Facebook has been on a hiring spree in the Seattle area, particularly for its virtual reality arm Oculus, which is growing fast in Microsoft’s backyard of Redmond.
GeekWire reported on new HQ leases for top Seattle startups Rover and Outreach. Other companies continue to grow and that will pick up any slack. Tech has blown up Seattle. For the past 5 years we have seen 50% price growth in this market which has priced out many middle class buyers.
Seattle Real Estate Market Forecast 2020
What are the Seattle real estate market predictions for 2020? According to Zillow.com, the median home value in Seattle is $714,800. Seattle home values have declined -3.5% over the past year and their Seattle real estate market forecast is that the prices will fall -2.0% within the next year.
Here is the Seattle real estate price appreciation graph by Zillow. It shows us the current home price depreciation forecast of -2.0% till Sep 2020.
The median list price per square foot in Seattle is $516, which is higher than the Seattle-Tacoma-Bellevue Metro average of $290. The median price of current listings in Seattle is $695,000 while the median price of homes that have been sold is $687,500.
Zillow reports that 20.8% of the listings in Seattle had a price cut in Sep 2019, which is a good thing for buyers. It shows sellers were willing to negotiate on prices as they were finding it more and more difficult to sell homes at asking prices.
The median rent price in Seattle is $2,700, which is higher than the Seattle-Tacoma-Bellevue Metro median of $2,350.
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Seattle Housing Market Forecast 2019 – 2021
Here is a short and crisp Seattle housing market forecast for the 3 years ending with the 3rd Quarter of 2021. The accuracy of this forecast for Seattle is 85% and it is predicting a positive trend.
The LittleBigHomes.com estimates that the probability for rising home prices in Seattle is 85% during this period. If this price forecast is correct, the Seattle home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018.
Check this page each quarter for updates to the Seattle, WA Real Estate Market Forecast.
Seattle Real Estate Market Trends
Seattle has been one of the hottest real estate markets in the country for years. But for the first time since 2014, homes in that area are selling below their listing price. And that slow down could be noteworthy for homeowners across the country.
According to a recent report published on Fortune.com, just six months ago, the average Seattle home sold for 6.3% above its listing price. These days, it’s averaging 6.6% below that price. And that comes as listing prices themselves are falling, dropping 7% since the spring.
Therefore, it is possible that the Seattle real estate market cool down is just a sign that buyers reached their limit after years of frenzied sales. Last year at this time prices were up 0.7 percent month-over-month and year-over-year prices were up 12.8 percent.
Seattle had fallen from #1 in year-over-year price growth back in May 2018 all the way down to #11 in January 2019, falling below the overall national rate.
According to April data of Case-Shiller that was released late June 2019, Seattle-area home prices were:
- Up 1.1 percent March to April
- Up less than 0.1 percent YOY.
- Up 30.9 percent from the July 2007 peak
After three straight months of slow or negative growth, home prices around Seattle are on the upswing again. Prices in King, Pierce and Snohomish counties rose by 0.7% since last year, according to the latest S&P CoreLogic Case-Shiller Home Price Index.
Trulia has 2,282 resale and new homes for sale in Seattle including open houses, and homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The median price of sold homes in Seattle housing market is $675,000 and homes are selling for about $507/sqft.
Some of the most popular neighborhoods are Capitol Hill, Magnolia, Downtown, Maple Leaf and Belltown. Here you’ll find the maximum no. of listings.
Currently, there are 84 active listings in Capitol Hill, Seattle, WA and the home prices range from $250K – $9.75M. Additionally, there are 139 rental properties on Trulia within a range of $895 – $15,000. The schools are rated between 1/10 – 8/10.
Similarly, there are 51 active listings in Magnolia, Seattle, WA and the home prices range from $165K – $6.59M. Additionally, there are 53 rental properties within a range of $1.25K – $9,000. The schools in this neighborhood are rated between 7/10 – 6/10.
In the past month, 941 homes have been sold in Seattle, WA as reported by Redfin.com. In addition to houses in Seattle, there were also 852 condos, 575 townhouses, and 85 multi-family units for sale in Seattle last month. The median price per square foot in Seattle has increased by 2.7% over the past year.
According to their statistics, the Seattle housing market is very competitive. Homes in Seattle receive 1 offers on average and sell in around 20 days. The average price of a sold home in Seattle was $695,000 last month, up 0.0% since last year. The average sale price per square foot in Seattle is $452, up 2.7% since last year.
Homes typically receive 1 offer. Homes sell for about 1% below list price and go pending in around 20 days. A hot listing in Seattle can sell for about 1% above list price and go pending in around 7 days.
Here is the latest Seattle housing market data for the month of Oct 2019 from Redfin.com. The sale to list price ratio shows us that it was seller’s market in the past month.
Seattle Housing Market Trends in Oct 2019
|Median List Price||$700,000|
|Avg. Sale / List||99.5%|
|Median List $/Sq Ft||$470|
|Avg. Number of Offers||1|
|Median Sale Price||$695,000|
|Avg. Down Payment||19.0%|
|Median Sale $/Sq Ft||$453|
|Number of Homes Sold||941|
There are 3,072 homes for sale in Seattle, WA on Realtor.com. The new listings are 191. The asking price of Seattle single family homes can start from $60,000 and can go up to $13.7M for a luxury property in Lake Washington Waterfront.
Additionally, there are 1,438 rental properties for sale, and their rent price can go from $400 to $15,000 per month. The median rent in Seattle is $2,440. There are 442 new construction homes for sale in Seattle within a price range of $429,000 to $10.25M.
According to their statistics, in October 2019 the Seattle housing market was a seller’s market, which means there were roughly more buyers than there were active homes for sale.
Ideally a buyer would prefer a sale to asking price ratio that’s closer to 90%. In Seattle, the sellers have held good leverage in these negotiations in the past month.
In October 2019, the median list price of homes in Seattle, WA was $675K, flat year-over-year. The median listing price per square foot was $432. The median sale price was $675K.
On average, homes in Seattle, WA sell after 47 days on the market. The trend for median days on market in Seattle, WA has gone down since last month, and slightly up since last year.
As per Movoto.com, The median list price in Seattle is $699,950. The median list price in Seattle went down 2% from October to November. Seattle’s home resale inventories is 1,662, which decreased 9 percent since October 2019.
The median list price per square foot in Seattle is $499. In October 2019 it was $496. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in November.
Seattle, WA Single & Multi-Family Homes Statistics
Following the real estate market decline in 2007 in the U.S., single family rental homes became favorable options for investors, saving in construction or refurbishment prices. The quick turnaround for an owner to rent out their property means cash flow is almost immediate.
Single family rental properties have grown up to 30% within the last three years. Almost all the housing demand in the US in recent years has been filled by single family rental units.
U.S. single-family rental market has seen steady rent increases between 2010 and 2019. According to CoreLogic’s latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and among 20 metropolitan areas, it shows a national rent increase of 3% in April 2019, as compared to 2.8% in April 2018.
The average sales price of new homes sold in the U.S. fell by 1.6% year-over-year in July 2019, to $388,000, according to the U.S. Census Bureau. In fact, the median sales price of new homes sold fell by 4.8% to $312,800 over the same period.
For existing homes, the median price was up by 4.3% to $280,800 in July 2019 from a year earlier, according to the National Association of Realtors. July’s price increase marks the 89th consecutive month of year-over-year gains. Demand remains robust. During the year to July 2019, new and existing home sales increased by 4.3% and 2.5%, respectively.
As per the real estate company called Neigborhoodscout.com, the median house price in Seattle, WA is $761,782, which indicates that home prices in Seattle are well above national average for all cities and towns in the United States.
Large apartments are the single most common housing type in Seattle, accounting for 45.40% of the city’s housing units. One or two bedroom apartments are the most common housing units in Seattle.
Other types of housing that are prevalent in Seattle include single-family detached homes, duplexes, homes converted to apartments and a few row houses. Seattle has a mixture of owner-occupied and renter-occupied housing.
Prices of single-family houses in the Seattle metro ticked up 1.0% in May from April, which was less than half the seasonal increase last year. And so the index fell 1.2% from May last year, the first year-over-year decline since Housing Bust 1, according to Case-Shiller Home Price Index.
After the great recession of 2008, renting a home has increased exponentially across the nation. There are currently over 136.57 million housing units in the U.S.
In 2018, the total number of homeowner households hit an all-time high of 76.2 million. 36.6% of households rent their homes and 64.4% buy their homes (2018 U.S. Census Bureau).
Currently, there are 662 single family homes for sale in Seattle, WA on Zillow. Additionally, there are 455 single family homes for rent in Seattle, WA.
Under potential listings, there are about 2 Foreclosed and 59 Pre-Foreclosure homes. These are the properties that may be coming to the market soon but are not yet found on a multiple listing service (MLS).
Seattle, WA Foreclosures And Bank Owned Homes Statistics
Looking for foreclosure homes in Seattle, WA? As per the Seattle foreclosure data by Zillow, the percent of delinquent mortgages in Seattle is 0.2%, which is lower than the national value of 1.1%.
With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth.
The percent of Seattle homeowners underwater on their mortgage is 3.9%, which is lower than Seattle-Tacoma-Bellevue Metro at 4.2%.
|Total No. of Foreclosures in Seattle||195 (RealtyTrac)|
|Homes for Sale in Seattle||316|
|Median List Price||$625,000 (3% ⇓ vs Sep 2018)|
There are currently 195 properties in Seattle, WA that are in some stage of foreclosure (default, auction or bank owned) while the number of homes listed for sale on RealtyTrac is 316.
In October 2019, the number of properties that received a foreclosure filing in Seattle, WA was 10% lower than the previous month and 26% lower than the same time last year.
Best Neighborhoods to Invest in Seattle Rental Real Estate
If you are looking to buy real estate in Seattle, you should know the best places to invest in. The three most important factors when buying a real estate anywhere are location, location, and location. Location creates desirability.
Desirability brings demand. Demand would raise the price of your Seattle real estate and you should be able flip it for a lump sum profit.
When looking to invest in Seattle real estate, you need to find places where the expected property appreciation forecast is positive. The running costs for owning and managing an Seattle investment property should be low.
The neighborhoods in Seattle must be safe to live in and should have a low crime rate. The neighborhoods should be close to basic amenities, public services and shopping malls. There should be a natural and upcoming high demand for rental properties and a low supply of income properties.
Seattle is a fairly walkable city in King County. There are 123 elementary schools, 54 middle schools, 63 high schools and 140 private & charter schools in Seattle, Washington. There are 163 neighborhoods in Seattle.
Some of the best neighborhoods in Seattle are Queen Anne, Ballard, Delridge, Capitol Hill, Maple Leaf, Columbia City, Beacon Hill, White Center, Green Lake, West Seattle, Wallingford, Montlake, Magnolia, Greenwood, Eastlake and Fremont.
Stevens has a median listing price of $1.1M, making it the most expensive neighborhood. Broadway is the most affordable neighborhood in Seattle, with a median listing price of $521K.
Here are the best neighborhoods to invest in Seattle real estate because they have the highest appreciation rates (List by Neigborhoodscout.com).
|1||Boren Ave / Madison St|
|2||12Th Ave S / S King St|
|3||Mars Hill Graduate School / Elliott Ave|
|4||Cornish College of the Arts / Stewart St|
|5||James St / Boren Ave|
|6||Antioch U-Seattle / 4th Ave|
|7||Seattle Community College-Central Campus / Broadway|
|8||E Jefferson St / 20th Ave|
|9||Westlake Ave N / Dexter Ave N|
|10||U of Washington-Seattle Campus / NE 45th St|
How is Real Estate Investing in Seattle?
Now that you know where Seattle is, you probably want to know why we’re recommending it to real estate investors. Investing in real estate is touted as a great way to become wealthy. Should you invest in Seattle real estate?
If you want to find out whether Seattle real estate is a good investment or not, you need to drill deeper into local trends. The Seattle real estate trends will tell what the market holds for the year 2020. We have already discussed the Seattle housing market forecast for answers on why to put invest in this market.
Although, this article alone is not a comprehensive source to make a final investment decision for Seattle but we have collected ten evidence based positive things for those who are keen to invest in the Seattle real estate.
Investing in Seattle rental properties will fetch you good returns in the long term as the home prices in Seattle have been trending up year-over-year.
Let’s take a look at the number of positive things going on in the Seattle real estate market which can help investors who are keen to buy an investment property in this city.
We’ll focus on real reasons to invest in the Seattle real estate instead of giving you vague appeals to buy a house or an investment property because of general ambiance and mere promises of future growth.
1. Silicon Valley Real Estate Market Is Insane
What does the state of Silicon Valley real estate have to do with the Seattle real estate market? Quite a bit, actually. Seattle has long been a second tier technology hub, bolstered by companies like Boeing, Amazon, F5, and Real Networks.
Seattle’s strong tech ecosystem has led to a number of startups choosing to start here, but more importantly, many tech giants are setting up “outposts” here.
They’re moving jobs to Seattle so they can afford to expand or simply afford to remain in business. The influx of new high paying jobs plus relocating employees to Seattle is driving demand for homes in Seattle.
Over the past 10 years, Amazon has grown more than tenfold in the city of Seattle, from about 4,000 employees in its hometown to over 45,000.
During the same time, the median home price in the city has shot up from $420,000 to $720,000 (according to the Northwest MLS) and home prices in the metro area as a whole have gone up 47 percent.
That’s nearly twice as high as the national increase of 24 percent according to the S&P Case-Shiller Home Price Index. Between 2008 and 2018, over 535,000 homes have sold in the entire Seattle metro area.
For comparison, that’s 41 percent more than in the similarly-sized San Diego metro area. Much of this growth in the local housing market can likely be attributed to growth at Amazon.
2. California’s Oppressive Business Climate
Businesses aren’t just relocated to Seattle to tap into a growing, skilled labor market. Others are simply relocating because they cannot stay in business in California. California has the highest income taxes in the United States.
Incredibly intrusive and endlessly proliferating regulation only makes it harder for businesses to operate. While many businesses are moving to Texas, Seattle is closer both in culture and geography.
That they can find cheaper talent and real estate while gaining more freedom to operate their businesses only adds to the bottom line.
3. The Overall Growth in the Area
Seattle was the fastest growing major city in the country in 2015. It has ranked among the top 5 fastest growing cities since 2010, hitting a 3.1% annual growth in 2016. Many young people move here because it is seen as an excellent place to live and get started, and that’s aside from the strong job market.
The exodus from California to Seattle is only part of the equation, since Seattle attracts people from all over the country, and in truth, around the world.
4. How Geography Aids Property Values in Seattle
The Seattle real estate market shares many of the constraints that drove up real estate prices in San Francisco. You can’t realistically build on water. It is hard to build in the mountains.
You can build up, but that takes time and is expensive. And all the while, everyone wants to live close to the city center and jobs. This helps keep property values in the Seattle housing market high.
5. How Domestic Politics Bolsters the Seattle Real Estate Market
Environmentalist protections for large swaths of land around Seattle limit how far the city could spread out. This prevents the value of homes in the Seattle housing market from coming down as people relocate to distant suburbs, trading home values for commute time.
Building up is increasingly an option, but you can’t do that here the way they’ve done it in Miami. The financial district allows buildings to be as tall as FAA regulations allow, but that’s pretty much it.
Nor does that designation matter much, since the area is mostly built-up. The rest of Seattle is zoned low, preventing demand from being met by building condo towers. That keeps Seattle rental property rates high.
6. How Foreign Politics Affects the Seattle Real Estate Market
The United States is pretty friendly to foreign real estate buyers. Canada has limited the ability of foreign buyers to buy up properties in Canada, a major reason why Vancouver became one of the most over-valued real estate markets in the world.
This has led many Chinese investors to buy up Seattle real estate instead, making the city the third destination for foreign real estate investors.
Some hope to send kids to study in the U.S., while a few actually have children here. Others buy the properties as a way to park money overseas in a relatively low tax jurisdiction with likely returns if they choose to sell later.
Since foreign buyers don’t always rent the properties out, this drives up prices in the Seattle real estate market while indirectly constricting supply.
7. The Market Is Unexpectedly Friendly for Landlords
Many investors are reluctant to buy properties in liberal markets because they’re afraid they won’t be able to protect their investment.
However, there are a number of points in favor of Seattle, especially in comparison to Oregon and California. Washington State outlawed rent control, so you can raise rents to keep up with inflation and demand.
If a tenant breaks the lease without the landlord’s consent, the tenant is liable for rent through the end of the lease. Landlords have significant freedom in their screening questions.
If a tenant has a month to month lease, the landlord can only end it for one of 18 approved reasons, but they can end it with a written notice three weeks before the end of the month.
8. The Massive Seattle Rental Market
Around a third of people in the U.S. rent. However, in Seattle, the rate is over half. This is partially due to the cost of homes in the Seattle housing market.
Another contributing factor is that Millennials are less willing to be tied down to a home and thus prefer to rent, while Seattle is one of the top cities for attracting these young adults. They’re probably going to continue to rent instead of buying homes.
9. The Large Student Market
While we cannot say this just about the Seattle housing market, the fact remains that large cities with a strong network of educational institutions always create opportunity for those who want to own rental properties.
Students don’t buy houses – they rent. A college town with a single university sees property values rise and fall relative to the popularity of the university.
Seattle’s nearly two dozen four year colleges provide a literally diverse market for landlords catering to students, while the strong local job market mean you can rent the property out to locals if the students move out.
10. The Excellent Return on Investment
Seattle has repeatedly hit lists as being among the top cities for real estate sellers to get the highest return on their investment. Property values have gone up consistently for years.
Rental rates are high and continue to rise, guaranteeing ROI for those who buy and hold properties. We’ve already addressed the fact that you can raise rents as necessary to match the market.
This means you will certainly be able to profit from the large rental market in Seattle whether you buy and hold or buy and flip.
Investing in Seattle Real Estate: The Conclusion
Maybe you have done a bit of real estate investing in Seattle, WA but want to take things further and make it into more than a hobby on the side. It’s only wise to think about how you can and should be investing your money. In any property investment, cash flow is gold.
Seattle has long been second to Silicon Valley, but its strong economy, diverse population, and better regulatory climate are bringing refugees from California and migrants from around the country and world to live here.
Regardless of the area’s weather, the Seattle housing market’s outlook can only be described as sunny. A good cash flow from Seattle rental property means the investment is, needless to say, profitable. A bad cash flow, on the other hand, means you won’t have money on hand to repay your debt.
Therefore, finding a good Seattle real estate investment opportunity would be a key to your success. If you invest wisely in Seattle real estate, you could secure your future.
If you are a beginner in the business of cash flow real estate investing, it very important to read good books on real estate. The less expensive the Seattle investment property is, the lower your ongoing expenses will be.
Roughly a $150,000 property is what some experts recommend starting with. However, it is not easy to get that kind of a deal in Seattle as it is among the most expensive real estate markets in the U.S.
Most investors naturally gravitate to residential property investment. When looking for the best real estate investments in Seattle, you should focus on neighborhoods with relatively high population density and employment growth.
Both of them translate into high demand for housing. If housing supply meets housing demand, real estate investors should not miss the opportunity since entry prices of homes remain affordable.
You must also collaborate and learn from savvy real estate investors who have retired early on in their lives by investing in some of the best real estate markets like Seattle, WA.
Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process.
They are well-informed about critical factors that affect your specific market area, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing and interest rates.
NORADA REAL ESTATE INVESTMENTS strives to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in the U.S. growth markets. We can help you succeed by minimizing risk and maximizing profitability.
The aim of this article was to educate investors who are keen to invest in Seattle real estate in 2020. Purchasing an investment property requires a lot of studies, planning, and budgeting. Not all deals are solid investments. We always recommend to do your own research and take help of a real estate investment counselor.
Other Best Places To Invest in Real Estate in 2020
Apart from the Seattle real estate market, you can also invest in another hot market in Spokane, WA. Spokane is a relatively cheap real estate market on the West Coast. It is already seeing increased demand and property valuations, while it remains a safe place to invest in real estate.
Skip Seattle and Silicon Valley and invest in the future growth of Spokane. One reason why Spokane long lagged behind Seattle was its higher unemployment rate. Seattle has a roughly 3% unemployment rate, significantly lower than the 5% unemployment rate seen in Spokane.
Spokane’s economy, though, is seeing a surge of higher wage jobs. Out of the tens of thousands of new jobs created since 2010, the majority of them pay more than the average county wage – which is in line with the national average. The promise of better pay will lure many people to Spokane to live, fueling demand for the Spokane housing market.
Another hot market for investors in 2020 is going to be the famous Miami real estate market. The Miami real estate market offers diverse opportunities to real estate investors, allowing you to choose which rental markets you want to cater to and profit from. However, that isn’t reason enough to consider investing in the Miami real estate market.
According to a report published by Zillow in Dec 2017, Miami was the country’s fourth most valuable housing market. Trailing only Los Angeles (total value of $2.7 trillion), New York (2.6 trillion), and Washington (996.7 trillion), the total value of Miami’s housing market is an estimated 864.2 billion, which represents a solid 4.7 percent increase year over year. Miami real estate market predictions show us that the prices will rise 3.6% within the next year.
Similarly, the Charlotte housing market forecast 2020 is that it is going to be a hot investment destination for new real estate investors. Charlotte is the largest city in North Carolina.
The city proper is home to more than 800,000 people. The metropolitan area is even larger – home to roughly two and a half million people. It is one of the country’s fastest growing metro areas, and it was the second fastest growing city in the southeastern United States. Only Jacksonville, Florida was growing faster between 2004 and 2014.
One advantage to living in a big city like Charlotte is the constant demand for homes. Buying a home in Charlotte is a better investment, depending upon several factors.
There are so many major companies and professional sporting events that people will always be interested in residing here. Therefore, interested investors aren’t likely to allow the listing prices to get to low before they swoop in and take advantage.
Let us know which real estate markets you consider best for real estate investing! If you need an expert investment advise, you may fill up the form given here.
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*Remember, caveat emptor still applies when buying a property anywhere. The information contained in this article was pulled from third party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified through the references given below. As a general policy, the Norada Real Estate Investments makes no claims or assertions about the future housing market conditions across the US.
Foreign property buyers
Silicon Valley is insane
California’s oppressive business climate
Politics affecting real estate https://www.theurbanist.org/2014/09/02/85-foot-and-125-foot-height-limits-are-a-missed-opportunity
Market Forecast And Trends https://www.realtytrac.com/statsandtrends/wa/king-county/seattle https://www.zillow.com/seattle-wa/home-values https://www.trulia.com/real_estate/Seattle-Washington/market-trends https://www.movoto.com/seattle-wa/market-trends https://www.neighborhoodscout.com/wa/seattle/real-estate https://www.redfin.com/blog/2018/10/amazon-hq2-seattle-housing-market.html https://www.littlebighomes.com/real-estate-seattle.html https://www.redfin.com/city/16163/WA/Seattle/housing-market https://www.realtor.com/realestateandhomes-search/Seattle_WA/overview https://seattlebubble.com/blog/2019/03/27/case-shiller-seattle-home-price-gains-below-average-in-january https://www.geekwire.com/2018/amazon-responsible-seattles-housing-cooldown-real-estate-experts-weigh