As 2020 nears an end, we thought this would be a good time to focus on the things we are thankful for at Sound Point Property Management. News has been so unsettling lately, we just want to share some good Seattle news for a change.
Even though we are still in the midst of a global pandemic, Seattle currently has the most competitive housing market in the US. An unbelievable 71% of homes on the market are selling in under two weeks. This means your property is not losing value during these trying times even if you aren’t interested in selling.
While rental prices are down in Seattle, just outside the city limits suburban rental properties are seeing rent prices increase. This is great news for those that have suburban Seattle rental properties.
The West Seattle Bridge will be back in action in 2022. The announcement to repair the bridge instead of replacing it means a faster return to normal traffic patterns in the West Seattle area. This will surely make getting in and out of West Seattle “normal” again and improve the rental market on the west side.
Several vaccines are on the horizon. Downtown Seattle is sure to see the return of office workers when the vaccine becomes available to the masses. While we have months to wait for that, it’s light at the end of the tunnel for all those hoping for the return to work, school, and some sense of normalcy.
Finally, we are thankful for our many clients, our friends, our families, and our beautiful city of Seattle.
Happy Thanksgiving to all!
RESOURCES:
- https://komonews.com/news/local/seattle-ranks-as-most-competitive-housing-market-in-us-study-finds
- https://www.noradarealestate.com/blog/seattle-real-estate-market/
- https://www.seattlepi.com/realestate/slideshow/rents-down-in-seattle-but-rising-in-the-suburbs-212553.php
- https://www.king5.com/article/news/local/seattle/west-seattle-bridge-repair/281-a357c6b6-b7b8-469d-a4f6-bbea1f04fe0b
