After the 2020 holiday season, a surge of buyers will come into the market on Jan. 1, 2021. The Seattle Metro looks to a 9.7 % increase in prices in 2021. getty. The chart below shows a declining number of total homes for sale in January 2020 in Seattle. At the start of 2020, experts are seeing high demand for homes and low inventory, making it a more competitive market. "analyticsString": "", "trigger": { Archived Article: “Seattle Housing Market in 2018: Still Warm but not Red Hot” Seattle Housing Market Forecast 2018? That is the biggest takeaway from the 2020 economic forecast … A Seattle property investment in the right part of the market, however, will prove to be quite profitable in 2020. "autocomplete_delay": 310 }, So is Seattle a good place to invest in real estate? "dur" : 300 }, "triggerOnFacetChange": 1, Most of all, she enjoys writing about the constantly changing markets in the US real estate industry. "triggeronclick": 1, We are also advocating to have mandatory diversity education for all REALTORS® to support the Fair Housing Act. Additionally, we’re having continual internal discussions on how we can support diversity, equity and inclusion. Planning on purchasing an Airbnb investment property? "resultsposition": "hover", Mid-June: The number of sellers increased to pre-COVID seasonal levels. Expect lower prices when buying an investment property in Seattle. What are the Bellevue real estate market predictions for 2020? "imageheight": 70, In central Puget Sound, the velocity of the housing market is in tight rotation, with the sales activity intensity for each new listing going under contract at a frenzy level and higher for most price ranges and areas. June: Many lifestyle/destination/surrounding markets became virtually sold out as buyers were able to work from home. At the start of 2020, the median house value in the city was around $730,000. "autocomplete": { "redirectEnterTo": "results_page", Use our Property Finder to find lucrative investment properties that match your criteria in a matter of minutes! "redirect_url": "?s={phrase}", RISMedia's Power Broker Reception & Dinner. Find a Profitable Airbnb Investment Property, Related: Airbnb Data Analysis Is the Key to a Profitable Short Term Rental. March/April: COVID-19 led us to adjust our business practices to support social distancing for buyers, sellers and agents. "mobile": 1 }, "prescontainerheight": "400px", Updated on October 6th, 2020 The direction of this year’s housing market is clear ahead of the Super Bowl. Houston has a more affordable ratio of 14.67, while the cheapest are Cleveland at 8.31 and Detroit at 5.35. May: The number of buyers increased to pre-COVID seasonal levels, but sellers lagged creating a virtually sold out situation. COVID-19 Vaccine to Drive Airbnb Occupancy Rate Recovery... Home Prices Fell During COVID-19 in These Cities, Airbnb Occupancy Rate Up 13% as Market Recovers. The median home value has gone down 3.9 percent over the last 12 months. At the end of 2019, the Seattle … "iishowOverlay": 1, "items" : "fadeInDown" March 31, 2020 at 7:05 am Updated March 31, 2020 at 5:25 pm The unique housing market in 2020 continues into 2021, with surge-level sales activity intensity for each new resale listing, fueled by low interest rates and a huge backlog of buyers. "closeOnDocClick": 1, As the effects of the COVID-19 pandemic ripple through every sector of the economy, a new market prediction from the Seattle-based Zillow Group is giving insight into how home sales will … What Kind of Airbnb Occupancy Rate Can You Expect? "anim" : "fadedrop", Currently, it’s a little bit over $700,000. How to Find Investment Properties for Sale Near Me, Urban Land Institute and the PwC: Emerging Trends in Real Estate 2020 report, Airbnb Data Analysis Is the Key to a Profitable Short Term Rental, 2 Real Estate Resources You Need to Start Using Now, Las Vegas Housing Market Beats Seattle Real Estate for #1 Spot in the US. The basic premise of the regulations set on Airbnb Seattle is that property owners now face limits on how many units they can rent out and they are required to get an extra license to operate their real estate business. The Seattle real estate market forecast includes construction- just not for residential housing. "anim" : "fadedrop", "mob": { “The housing market is coming out strong in 2020, showing all the signs of a seller’s market… Your broker associate can consult with you to share strategies to win in multiple-offer situations, get pre-approved or fully underwritten through a lender, and receive instant email/text notification of newly listed properties. It’s clear that the Seattle housing market 2021 won’t see a boost … How Realtor Commissions Are Changing: MLS Dominance and Its Problems. The event kicked off with a riveting opening session, "A Road Map for the Year Ahead," moderated by RISMedia's Founder, CEO and Publisher, John Featherston, who was joined by NAR leadership members, CEO Bob Goldberg and 2021 President Charlie Oppler. ... New York at 36.83, and Seattle at 36.07. We are driving the conversation to right some of the wrongs caused by redlining and other discriminatory processes that occurred 70-80 years ago. "showdate": 1, Possible headwinds in 2021 include decreased affordability due to price increases, a slight interest rate increase when the economy improves, and the potential for higher taxes on the state and federal level. Real Estate Investing Under The Trump Administration, Workforce Changes and Their Impact on Real Estate, International real estate: China and U.S real estate. "redirectonclick": 0, Should We Expect a US Housing Market Crash 2020 due to the Pandemic? "closeOnMagnifier": 1, "noresultstext": "No results! If not writing, Heba is exploring and learning. Year 2020 recap At the end of 2017, I published this post on why we should start worrying about the housing market again. Flash forward to the present. to find lucrative investment properties that match your criteria in a matter of minutes! "dur" : 300 }, You can rent out your home (primary residence) plus one additional unit. Related: 2 Real Estate Resources You Need to Start Using Now. While Seattle did make it back in the top ten in the Urban Land Institute and the PwC: Emerging Trends in Real Estate 2020 report, the Seattle housing market isn’t looking too strong on the growth prospect as home construction is down. The luxury market will remain strong due to the wealth effect in the economy. Heba is Content Writer at Mashvisor with a BA in Business Administration. "anim" : "fadedrop", "autop": { How will green building affect the real estate investment business? "analytics": 0, Just Follow These 6 Tips, Development and redevelopment opportunities, Monthly Traditional Rental Income: $2,337, Monthly Traditional Rental Income: $2,795, Monthly Traditional Rental Income: $1,843. "pshowsubtitle": "0", Of course, different parts of the market will project a different rate of return for rental property investments. Check out this guide: How to Find Investment Properties for Sale Near Me. For more information, please visit www.johnlscott.com. Research has shown that if a Black student has two or more Black American teachers, their chance of going to college increases by 32 percent. "overlay": 0 }, "highlightwholewords": 1, It’s important to cover the legal aspect of rental property in the Seattle housing market forecast as Airbnb laws can really restrict the ease of operation, the level of rental income generated, or your Airbnb occupancy rate, ultimately affecting overall rental property profitability. "enabled": 1, "highlight": 0, "count": 100 } "resultitemheight": "auto", But other real estate prospects, like the expansion in office space (8.8 million square feet already under construction) keep the general state of the Seattle real estate market strong. High prices were already forcing many city … "iiGutter": 5, Strong real estate investor demand and lower property prices are in the 2020 Seattle housing market forecast. "triggerontype": 1, "enabled": 1, ... the housing market will cyclically slow a bit reducing sales volume and softening prices. "resultareaclickable": 1, "results" : { July – November: A substantial increase in the number of new resale listings in Seattle and on the Eastside brought record buyer activity in many markets, with the luxury market also at record transaction numbers. "iifNoImage": "description", Tips for Buyers and Sellers in 2021 We hope 2021 brings healing and peace, as well as an enhanced focus on diversity, equity and inclusion. "settings": { Before coronavirus hit, the market was really in good shape. Here are the best neighborhoods for Airbnb vs long-term rental performance: Do you want to start searching for Seattle investment property for a 2020 investment? But according to Zillow, the market should warm up into 2020. The Seattle home price was up by 6% in February 2020, … The Federal Reserve … Will the housing market crash in 2020? Mashvisor’s investment property calculator analyzed rental property performance across the Seattle housing market– here is the key data: Based on these figures alone, you might not think the Seattle housing market forecast is too positive. "homeurl": "https://rismedia.com/", To help you out, using our investment property calculator again, we’ve pulled some data on the neighborhoods expected to perform best in the Seattle housing market 2020. Required fields are marked *, { The strong price appreciation we saw in 2020 will continue in 2021 as the biggest price boost will occur within the first four months of the year. The unique housing market in 2020 continues into 2021, with surge-level sales activity intensity for each new resale listing, fueled by low interest rates and a huge backlog of buyers. With prices dropping at a stable rate, there should be no worry of a Seattle housing market bubble. "hresulthidedesc": "0", "charcount": 3, According to Zillow, it’s going to be more affordable to invest in Seattle real estate next year than it’s been in years. A Somewhat Positive Forecast for 2020. "iiblurOverlay": 1, These 13 housing crash factors will shape the housing market… Additionally, home mortgage interest rates lowered. "iitemsWidth": 200, Additional major events in 2020 to consider: J. Lennox Scott is the chairman and CEO of John L. Scott Real Estate. Let us look at the price trends recorded by Zillow over the past few years. Now that the holiday … More specifically, the real estate … Will it decline, flat-line, or start to rise? You won’t be able to answer that question unless you look at the return on investment (ROI) of rental property investments in the Seattle housing market 2020. "closeOnDocument": 0, "dur" : 300 }, Short-Term Outlook Based On The Last 12 Months. "position": "fixed", "override_method": "post", Cyclone of Sales Activity Intensity "compact": { Here’s more on that and a couple of other predictions in our Seattle housing market forecast. }, Is Your Brokerage Managing New Home-Office Risks? Seattle’s brisk real estate market might take a slight breather in December, but the demand should return in January. "lang": "en", Fortunately, we saw a checkmark-shaped housing market recovery in the year 2020. However, there will be few new listings until March 2021. "trigger_on_type": 1, This program will support more Black students in education, which will help create financial equity and inclusion. "pc": { "delay": 300, In celebration of John L. Scott’s 90th anniversary, we have committed to sponsoring several scholarships for deserving Black Americans to obtain their teaching certificate. With double-digit increases in home values over recent years, a lot of people were left wondering when will the Seattle housing market slow down. "didyoumeantext": "Did you mean:", Want to start your search now? The latest … } ", The demand for housing should remain steady largely because of a hot job market and first-time home buyers in the Greater Seattle Area*. }, One of the most interesting Seattle real estate market trends to keep an eye on throughout 2020 will be the exodus from cities to suburban neighborhoods. Our Seller Listing Launch® system combines the best in marketing and pricing strategy to help sellers obtain the best price. Presidential Election 2020: How Will It Impact Real Estate? The Seattle housing market forecast 2020 includes the same Airbnb regulations which took effect this year. "width": "300px", Look for prices to increase 3.8% in 2020 as demand continues to exceed supply and more first-time buyers enter the market. "hide_keyboard": 0 }, Although it’s a seller’s market, being Market Ready – Day ONE™ as a homeowner elevates the interest of the backlog of buyers who will put an offer on your property. 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