One year ago, Seattle Mayor Bruce Harrell launched his “Downtown Activation Plan,” which outlined 46 action items – from adding more murals to improving street lighting. According to his office, 27 of the initiatives are in progress and 16 are complete.
Read MoreOne year ago, Seattle Mayor Bruce Harrell launched his “Downtown Activation Plan,” which outlined 46 action items – from adding more murals to improving street lighting. According to his office, 27 of the initiatives are in progress and 16 are complete.
Read MoreThe numbers are in, and last month’s real estate sales data in our region told two tales. The first is of a market that has had far more demand than supply, with rising prices and quickening market times reflecting this imbalance. The second tale is of a market attracting the attention of sellers eager to list their homes while prices are at their peak, finally helping address the demand-supply imbalance and giving buyers renewed hope after a challenging spring.
Read MoreIf recent office leasing activity is any indicator, the tech sector is alive and well in our region. During the first half of 2024, the Seattle/Bellevue market outperformed other well-known tech hubs – San Francisco, Los Angeles and Delhi – in the amount of office space acquired by IT companies.
Read MoreNew data out of the payroll company ADP ranked the Seattle-Tacoma-Bellevue metro area as the fourth-hottest hiring market in the U.S. To determine its rankings, the company analyzed the starting wages, hiring rate and pay growth for 15 million workers.
Read MoreOur local real estate market is exhibiting seasonal strength, with most areas seeing month-over-month and year-over-year sales gains. Despite continued interest rate increases, which can constrain both buyers and sellers, the number of closed transactions in King and Snohomish counties has risen for three straight months. This suggests that both sides of the table are figuring out how to adjust to the higher interest rate environment.
Read MoreThe days of throwing in a load of laundry or walking the dog between Zoom meetings may be coming to an end for some city and county workers. Seattle Mayor Bruce Harrell announced that the city’s executive branch employees will be required to report to work in person three days a week starting in November. Since 2022, Seattle employees were expected in the office twice a week.
Read MoreIt’s the time of year when for-sale signs typically start popping up like tulips and daffodils. Houses show well in the spring, just as the number of homebuyers peaks and sellers feel more ready to list. While we are seeing the market thaw this spring, challenges remain, especially for buyers. There remain more buyers in the market than available homes, an imbalance that’s driving up prices despite mortgage rates that still hover in the upper six-percent range.
Read MoreIn the first half of 2024, office tenants have signed for at least 4.2 million square feet in greater Seattle, led by 2 million square feet in Bellevue and other Eastside cities. CoStar data reveals that this is the strongest office leasing in the first half of any year since 2019.
Read MoreSeasonal changes are starting to take shape across the region and the local real estate market is experiencing cautious optimism. As we transition from winter to spring, home and condo sales are increasing, in both units and price. Low inventory means motivated sellers are finding success in about a week’s time, while buyers thread the needle between needing to present enticing offers and having to adjust their price ceilings due to recent mortgage rate increases.
Read MoreThe Seattle City Council has approved a bill that will exempt projects converting commercial buildings into housing from key development regulations and fees. Since the start of the pandemic, politicians and the public have wondered aloud if half-empty office buildings could become much-needed housing.
Read MoreConstruction is booming in our region on many fronts. From an iconic car wash becoming a high-rise tower and an ‘80s relic transforming into stylish new townhomes, to a splashy new town center in Sammamish to two cute little blue robots improving construction safety and quality assurance, here’s a look at what’s on the rise.
Read MoreLike some plants and trees, the local real estate market is starting to bloom. Last month, median residential sold prices increased in each of the four geographic areas covered below. That’s welcome news for intending home sellers, who are also benefitting from continued low inventory region-wide.
Read MoreSipping a self-served brew as you sit with friends on whimsical swings around a table. A barista bot making your café au lait. Quiet conversations on thoughtfully placed benches amidst eye-catching sculptures. And your pup getting her wiggles out on an artificial-turfed play area just for her. It’s all part of Vulcan Real Estate’s recently completed three-tower West Main project in downtown Bellevue.
Read MoreHorizons are brightening for Seattle’s hospitality and event industry. As the pandemic led to a sharp decline in travel, corporate events and hotel occupancy rates, Seattle’s tourism industry took a hit. However, the latest numbers out of Kidder Matthews, Visit Seattle and the CoStar Group point toward a slow-but-steady increase in business and leisure travel to the Emerald City.
Read MoreDespite moments of snow in Western Washington, the local real estate market is slowly warming, as new opportunities arise for both home buyers and sellers. Lower mortgage rates are welcome news for buyers, and low inventory means sellers are starting the year with minimal competition.
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