In a news segment regarding the current state of the housing market in Seattle, Phoenix America News, which broadcasts across the continent, turned to the expert insight of Seattle-based Realogics Sotheby’s International Realty (RSIR). As the piece describes, the median price for a single family home is currently over $500k, up nearly 20% from 2014. And, with the development of high-tech companies, new immigrants from foreign countries and the affordable price in comparison to other west coast markets, Seattle is on track to sustain the current growth. Seattle still has a lot of market potential, given that it remains a relative value when compared to other global cities such as New York and San Francisco.
As Dean Jones, President & CEO of RSIR told Phoenix News, “we have a very high level of income growth” and “relatively more affordable real estate prices” so “the overall cost of living here is much more affordable.” Jones also remarked on his belief that living in the Seattle area “delivers a higher quality of life than some of the other west coast gateway cities that have been formerly in favor.”
Lili Shang, a top producing broker and Founding Member of the Realogics Sotheby’s International Realty‘s (RSIR) Asia Desk also provided insight, speaking about the way in which new immigrants drive housing prices up, as has been the case in Seattle and other areas like Vancouver, British Columbia and San Francisco. “Seattle is a smart city,” said Lili Shang. “The Frontier industries and real estate market will hold up our status as a significant place on the globe well into the future.”
