Seattle Real Estate Forecast 2018 Housing Price Predictions Condo Rental Prices

Seattle Real Estate Forecast 2018

Seattle Washington was rated the hottest city in America for real estate.  Migration (90,000 during a recent 12 month period), great jobs, and low availability of properties, is driving home and condo prices skyward.

Home prices were rising faster than San Francisco and the Bay Area and there’s plenty of talk of a housing crash in Seattle. With the new federal tax changes, some believe house prices will fall across the country.  So the question buyers and investors, and sellers too, is whether Seattle will be any different than the national housing trends through to 2020.

Being the home of Amazon, Microsoft, Boeing, Starbucks, Joint Base Lewis-McChord, Weyerhaueser, the Seattle region is a compelling place for business. and jobs.  The city is so prosperous and optimistic, buyers are certain to buy in the city.

An exodus of Asian and other International buyers from the Vancouver Real Estate Market has brought in an additional source of investors into the Seattle area. The forecast is for more foreign buyers taxes in Vancouver BC, so Asian buyers will Seattle, Redmond, Spokane, Tacoma and Bellevue alternatives.

Extra demand may come from Asian student housing buyers.

For rental property buyers, some are suggesting that there are still homes available in some Seattle neighorhoods. Those who know how to search for homes for sale might find that bargain.



The specter of a bubble crash is real however, so home owners would be wise to get a home evaluation and prepare to sell home for the highest price. If you’re considering selling, take a look at the best renovations to consider to generate more interest in your property.

Seattle’s job market is brisk and high paying.  The jobless rate is still 3.7% currently (up lately from 2.7%) and the $15 minimum wage rate isn’t enough to pay the rent. 50% of renters are feeling burdened by the rent they pay which may raise issues for landlords and property managers.

Seattle housing photo courtesy of flickr.com/photos/wonderlane/ Beautiful Seattle Home Seattle housing photo courtesy of flickr.com/photos/wonderlane

Strong population growth, a strong tech sector, diverse economy, educated workforce, enticing geography and diverse recreation opportunities are drawing more new residents at twice the national average. Seattle is consistently named as one of the best cities in America.

Festivities on Lake Washington

For property investors, rental income suites will be in continuous demand throughout 2018 and 2019.  For homebuyers however, the day may have passed to find an affordable home in Seattle. If that’s the case, you may want o investigation the Boston real estate market, New York Real Estate market, Vancouver Real estate market, Houston real estate market, or the Miami real estate markets.




Sizzling High Home Prices Continues

The demand in 2018 will push up sizzling high housing and condo prices and it’s raising talk of a housing bubble and crash. Experts are calling for futher growth from 2018 through 2021.

Yet is this any different than national housing forecasts for cities like Los Angeles, San Francisco, Miami, Boston, Houston, or New York?

The HappyHome Team Gives their Outlook on the market

Seattle Realtor Christie Kinneard provides a quick update of the Seattle market, and condos, and where there are opportunities. She is changing her price points on the market because luxury homes are getting expensive and it’s all scarce.

In fact, experts called for growth under 3% but Seattle has outpaced that by far.  This trend to underestimation might continue as experts aren’t getting the national trends or the demand from property investors.

Although new housing construction is growing nationwide, availability is squeezed, even in Washington State. And with a lack of construction workers, there won’t be any easing of detached home prices or rental housing here. And with some Asian and other foreign buyers being locked out of the Vancouver housing market, they’re finding Seattle is a great place to park their money.

Zillow’s Predictions

Zillow predicts home prices in Seattle will rise by 6.2% in 2018 and average home prices will hit a lofty $702,000 by the end of the year. With multiple offers the norm, sellers won’t need bidding war strategies to get a record offer on the table or worry about the best home renovations to grow ROI.

Seattle Neighborhoods Average Home Price
East Queen Anne $821,600
Downtown Seattle $676,500
Denny Triangle $551,600
Eastlake $549,500
Capitol Hill $543,300
Westlake $513,500
Belltown $443,400
Uptown $382,800
First Hill $364,600

Metro Seattle Cities Average Home Price
Bellevue $730,000
Redmond $675,400
Seattle $592,200
Lynnwood $392,900
Renton $391,800
Kent $327,200
Federal Way $308,400
Everett $292,000
Tacoma $230,600

Seattle Home Prices fastest Rising in the US

According to a report in the Seattle Times, Seattle’s home prices have been on a scorching pace in the last 12 months.

1. Seattle +13.2%
2. Las Vegas +8.6%
3. San Diego +7.8%
4. Detroit +7.2%
5. Denver +7.2%
6. Portland +7.2%

The Seattle market is hot so the question is whether you should be buying a house or renting an apartment? And is the right time for property investment?  Zillow reports that nationwide, there are 12% fewer homes available than last year.  And this past summer, homes for sale fell 21% from 2016.

Rents have skyrocketed accordingly. The current average rent price in Seattle is over $2600.

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Auto Insurance Quote Seattle Redmond Bellingham Best Rates

Get the Best Auto Insurance Quote in Seattle

Auto insurance rates in Seattle are above normal, although be thankful you’re not driving in New York, Boston, Denver, Chicago, or Detroit where rates highest. Still, a Seattle driver shouldn’t be complacent and just accept the insurance companies offer on auto insurance. You can get a better auto quote online.

To drive a car legally in the state of Washington, you must possess one of these:

  1. Auto insurance
  2. Self insurance
  3. Certificate of deposit
  4. Liability bond

The other non car insurance options are unusual and require great wealth, yet those lucky individuals can go without the high cost of car insurance. That’s a nice break. You however will have to purchase auto insurance and truck insurance to drive in Seattle, Redmond or Bellevue.  With Washington negligence law, a person at fault in an auto accident that results in damage to another vehicle or person is responsible for that damage.

Also see New York auto insurance quote, insurance quote online Toronto, car and truck insurance Denver, Auto insurance quote Chicago, and truck insurance quote Austin.




That’s okay though, because there’s ways to save on the premiums you must pay. One note though is that if you’re a visiting driver from another state, you must carry auto insurance protection.

The minimum coverage requirements for vehicle registraton in Seattle are:

  • $25,000 for injury or death to 1 person
  • $50,000 for injury to more than 1 person
  • $10,000 for damage to property

How can you save on Auto Insurance quotes?

  • drive an old car to work
  • get usage based auto insurance
  • drive a car that is cheaper to insure
  • raise your premium deductible
  • don’t carry collision coverage

Check out more car insurance saving tips and start making it a habit to save money on every expenditure. Those are your hard earned dollars floating away. The only way you can ensure fair car insurance premiums is to make the insurance companies compete hard for your patronage. This quote process is the only thing that keeps them honest.




Seattle Auto Insurance Agents

Allstate Insurance Agent: Jeremy Olson
7 Denny Way,
Seattle, WA 98109, USA
206-956-0580

State Farm Agent: Karrie Dubose
1530 Westlake Ave N Suite 100,
Seattle, WA 98109, USA
206-971-5400

Northwest Insurance Group
6055 California Ave SW,
Seattle, WA 98136, USA
206-932-2500

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