The Real Estate Journal reported Seattle as currently having the largest increase of home inventory in the nation. Based upon a steady decline in unemployment and massive increase in our projected population it’s a sure bet to buy now. Not only can Seattle buyers feel confident in their financial investment but there’s also a lot to choose from.
The city has planned to accommodate a growth of 72,000 over 20 years (1994 to 2014). Seattle already reached 45% of the plan’s expected growth within the first 6 years. New construction is also having a hard time keeping up with projected growth. Much of the planning is focused on transportation needs. The city of Seattle shows a significant amount of development to be concentrated on the South Lake Union and Denny Triangle neighborhoods. In addition to the new lightrail, streetcar and monorail stations, studies are also being done to enhance bicycle/pedestrian access.
pdf regarding growth estimates
On a previous post, I made a rant regarding those people who predict the Seattle real estate market to fall apart. The more I look into what’s happening to our city, the more I shake my head in awe of the explosion Seattle will go through in the upcoming years. Considering the amount of condos currently on the market, sellers have to deal with more competition than last years buying frenzy.
For those who’ve been kicking tires about making a condo purchase, now is the time. However, because the Seattle market fluctuates on season, I advise hanging onto a property for at least a year before reselling. Call me to go shopping!
seattle 