Is Seattle a Good Place to Invest in Real Estate?
With the Seattle housing market correcting itself in 2019 in regards to several of these factors, real estate investors have plenty of attractive options heading into 2020, according to Mashvisor, an online real estate analytics provider. While this looks ideal on the surface, we have noticed a large migration of renters south of Seattle because housing costs in Seattle have gone back on the rise. So for those of you looking for a new investment property, we currently recommend you look at the suburbs of Seattle.
Thanks to property prices leveling off between north Tacoma and West Seattle, alongside a robust and diverse inventory cities like Federal Way, continue to be profitable options in the nation to invest in real estate. Several factors contribute to a strong real estate market in Washington state: employment prospects, home prices and values, local inventory, and development opportunities. Ask our team at Property Pro Group how you can invest today.
Seattle Suburbs like Federal Way, WA
Seattle currently has 8,186 vacant properties, 50 pre-foreclosures, and 21,146 other types of investment properties. The banks are holding 350 REO properties that have not yet been listed. There are 29,382 investment opportunities in SEATTLE, WA. 345 investment properties are listed for sale and 29,037 are off-market. As of July 20, the median property price is $844,028. The average gross profit per flip is $208,209. Property Pro Group has located 13,183 landlords in the area that own a total of 13,183 rental properties.
What about job growth in Seattle?
Seattle is a big city where a number of large corporations operate, including some Fortune 500 companies that are based in or around it. Due to the healthy employment market in the area more and more people have decided to move to Emerald City increasing the demand for the city real estate which is considered one of the hottest markets in the U.S. this year.
So let’s have a closer look at the biggest employers operating in the Seattle area today. The Fortune 500 companies are not the only ones that deserve mentioning. While such reliable companies like Washington Mutual and Seattle P-I that used to be an important part of the community have gone others have popped up out of nowhere (Microsoft and Starbucks emerged 20 years ago). To learn the largest Seattle companies whose names are known worldwide, you can view the biggest 20 SEATTLE companies here: https://www.zippia.com/company/best-biggest-companies-in-seattle-wa/