This year, Realogics Sotheby’s International Realty presents two reports to inform buyers and sellers in the Puget Sound real estate market. First, the 2021 Exclusive Report looks at how Seattle’s booming and diverse economy has spurred unprecedented development and population growth with a clear urbanization trend.
Thanks to leading employers on the front lines of enabling essential services and work-from-home agility, Seattle weathered the COVID-19 challenges of 2020 better than many U.S. metros. Yet as pandemic-related conditions prevailed nationwide and were not confined to our own region, Seattle’s outperformance of competing metros presents opportunities to value-seeking investors, entrepreneurs, and job-seekers.
Then, in the Case Shiller Market Watch we observe a year of strong home price growth amid a shift to remote work. The Index reported that Seattle ended the year ranked second in the nation for residential price growth for an eleventh straight month. The mix of urban, suburban, and exurban development within the MSA means that the Case-Shiller index for Seattle does not only reflect residential price trends inside the city but also prices in suburban and exurban towns beyond the city.
Homebuying demand has not fled the Greater Puget Sound: It is simply realigning with the preferences of the millions who enjoy the quality of life this region offers.
Whether you’re preparing to list, buy, or invest in this market, take a look at our exclusive reports here to better understand the trends, and connect with me today to take the next step in your real estate journey.