A recent study has found that Seattle is thriving even though the country is struggling through a global pandemic. With the increase in work-at-home employees, some expected an increase in families moving to the suburbs. This new study demonstrates that Seattle’s housing market is stronger than most expected. In the last week, the governor’s office loosened restrictions and started to allow open houses. Buyers need to be ready with offers as homes are moving at a quick pace.
What does this mean for the property owner in Seattle that is considering selling vs renting? As long as people are still moving to Seattle, there is still an opportunity to hold your real estate investment and keep income coming in as a landlord. Rent Cafe is showing that average rental prices have increased by 6% in the last year in Seattle.
Aren’t sure what’s best for your current investment property? We’d be happy to chat with you about it. Just reach out to Sound Point Property Management.
RESOURCES:
https://wallethub.com/edu/fastest-growing-cities/7010/#methodology
https://www.rentcafe.com/average-rent-market-trends/us/wa/seattle/
