The 2021 Housing Market

Posted on: January 20, 2021

News media reporting on real estate is often deceiving. My boots on the ground opinion of the 2021 market is that Seattle and surrounding areas will remain relatively steady as tech and other industries grow and attract highly educated professionals to our area. Californians continue their migration here finding us financially friendly. Inventory in most of our region remains low for now, creating challenges for some buyers. Now that employers are embracing working from home, it’s allowing buyers to look outside of more expensive areas and buy their dream home with a relatively easy commute, given there will be fewer trips into the workplace which lowers the pain threshold for commuting.

Spanaway, WA is the toughest place in the US to buy a home?

The buyers featured in this story are complaining that offering $20,000-$30,000 over the asking price didn’t get them a home, a bargain here in Seattle where one set of clients missed out on a property listed in the mid $700,000’s that sold $170,000 over asking. Wait for it…also in 2020, I had buyers compete for a water view property with multiple offers that got it for the asking price. Opportunities to purchase a home will not only continue but may surprise you as our public transportation improves and outlying areas are more affordable, spacious, and “occasional” commuter-friendly. It’s just three years until the light rail to Lynwood opens; a game-changer for the North end, and already reflected in the demand.

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