Current Trends
We are in a very strong sellers market. Low inventory levels are leading to multiple offers on most homes and there are a lot buyers in the market.
Condominium sales are picking up. Last October was the height of inventory for the condo market and its starting to go down. It’s a great time to buy a condo – you won’t face the same kind of competition as in the residential market.
It’s a good time to be a renter in the city! Monthly rental rates fell in Seattle in 2020. 30% of apartment buildings are offering free months rent.
Predictions for 2021
We are looking at 15%-20% appreciation by the time February sales close and they’ll keep going up.
People are moving farther away from work – the suburbs will continue to be popular.
Seattle is going to be MORE popular than it was in 2020
People are looking for more space for home offices and hobbies.
People will continue to make life changes and relocate
Interest rates will continue to be low – under 30% for a 30 year fixed loan.
Segment Producer Derek Haas. Watch New Day Northwest 11 AM weekdays on KING 5 and streaming live on KING5.com. Contact New Day.
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KING 5’s New Day Northwest is Western Washington’s only local daytime talk show. Watch it weekdays at 11 AM PST on KING 5 TV and streaming live on http://www.king5.com. #newdaynw
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