In 2019, the greater Seattle-Bellevue metro area residential real estate market picked-up significant momentum after going through a price correction that began in May 2018 and leveled-off beginning in October to December-January.
Viewing entries in
Now that drivers are safely traversing the new SR-99 tunnel, the Washington State Department of Transportation is preparing to demolish the Alaskan Way Viaduct, the first in many steps toward revitalizing the city’s waterfront. As GeekWire reports, WSDOT has now released “an extensive online overview of what to expect from the removal of the old highway above ground — a process that should take about six months.”
I was recently holding an open house when a curious neighbor came into the home to check out the new improvements and ask about current market conditions. After showing her the home and added value/improvements made by the seller—and asking her to tell everyone she knew—I briefly explained that we are going through a market correction, which began in mid-May (like a light switch on May 10th), and touched on the probable causes. I went on to say that current market conditions seem to have stabilized: generally, sales have increased and inventory began decreasing around mid-October (I saw it October 18th). I summed it up quickly with, “I believe it’s a great time to buy.” She looked at me and said “yeah, but what would you say to your friend or a family member. How would you advise them?” I shrugged and smiled as I replied, “I just did.”
LinkedIn recently released their monthly Workforce Report, which outlines national and local employment trends using data obtained by LinkedIn users. Here I outline key trends from Seattle’s report. In November 2018, hiring was 1.2 percent higher than it was at this same time last year, though seasonal adjustments revealed numbers slightly (0.2 percent) lower in November than October.
S&P Dow Jones recently released the Case-Shiller Home Price Index for August 2018, revealing that Seattle home price growth continues to slow. Up until just two months before that, Seattle led the nation in single-family home price gains for 21 consecutive months, but that run was ended as Las Vegas took over the lead.
The much-anticipated airport at Paine Field took a huge step this week as Alaska Airlines began ticket sales for flights that begin February 11th. According to Puget Sound Business Journal, Alaska Airlines has added more flights to their schedule, after Southwest Airlines put an “indefinite hold” on their planned operations in Everett.
After seemingly endless months of a frenzied real estate market in the Puget Sound region in which buyers faced anemic supply and highly competitive bidding wars, the latest Northwest Multiple Listing Service (NWMLS) press release reports that we are “finally returning” to a more balanced market, as “buyers welcome more choices, moderating prices.”
Facebook will soon be expanding its foot print in SODO, this according to a recent article published by the Puget Sound Business Journal, which indicates that the social media titan is investing $7.5 million into office space renovations at the Home Plate Center building. After initially indicating that they would lease a full floor at the office tower earlier this year, permits filed with the city of Seattle show that “Oculus” (the virtual reality arm of Facebook) has leased over 62,000 square feet.