: Supply was extremely tight, with only about 15 days of inventory available in the mid-price range ($500k–$600k). This lack of options created "seller gridlock," where homeowners were afraid to sell because they couldn't find a new place to buy.
: Most new construction in 2017 focused on apartments for rent rather than condos for sale, further limiting options for first-time buyers.
: Massive growth from Amazon, Microsoft, and Starbucks fueled the market. Seattle's unemployment rate hovered around 3%, well below the national average. should i buy a house in seattle 2017
: The median sales price in Seattle reached approximately $478,500 by the third quarter of 2017. While this was nearly double the U.S. median of $254,000, it was still seen as a "bargain" compared to San Francisco's $900,000 median.
: In many cases, monthly rent for a high-value property was actually lower than the mortgage payment would have been for that same property. Neighborhood Alternatives : Supply was extremely tight, with only about
While Seattle proper was the most expensive, nearby areas offered slightly more "affordable" options in 2017: : Typical home cost around $378,000 . Wenatchee : Typical home cost around $266,000 . Yakima : Typical home cost around $202,000 . Hottest housing market of 2017: Seattle
: Amazon's headquarters alone was a primary driver for housing demand. By late 2017, there were signs of a slight hiring slowdown, leading some to predict a cooling of the "double-digit" appreciation rates in the following years. : Massive growth from Amazon, Microsoft, and Starbucks
: Rates remained relatively low, generally staying below 4% for much of 2017. However, economists correctly predicted they would begin climbing toward 4.5% or 5% heading into 2018. Key Factors to Consider