According to a recent article by UrbnLivn, Seattle currently has the 2nd lowest rate of home for sales in the United States. Sitting just below the sought-after city of San Francisco (and the outlying Oakland and Hayward areas), Seattle only has 1 out of every 263 homes for sale. Comparatively, Portland, OR currently has 1 out of every 170 homes available. This ranking has and will continue to create increased competition within the housing market.
Condos are often a rarity within the Seattle cityscape. As reported by the Seattle Times, after a previous surge there were more than 12,000 new rental housing units being developed in Downtown Seattle, however, since 2011, just 866 condos were delivered in the same market cycle. Furthermore, only a dozen of those new condos built are still available for sale; 99% of what was built for sale is already sold and more than two thirds of what’s proposed to be built by 2019 is also already reserved for pre-sale.
Research provided by Realogics Sotheby’s International Realty and NWMLS suggests that the NEXUS Seattle project will meet an eager market as only 5 new construction and 42 resale units remain available to purchase in downtown Seattle. With prices from the low $300,000s, NEXUS will offer Seattle the rare opportunity to own property in Downtown.
To learn more about NEXUS, please visit: http://nexusseattle.com/
To read more on Seattle’s low rates of home sales, please visit: UrbnLvn | Seattle Has 2nd-lowest Rate of Homes for Sale in U.S.