When you're talking about real estate in Seattle and beyond, there's a lot to take in, so we're rounding up some of our best housing stories from June.
Whether you own, rent or are looking to buy, if you live in Seattle, you’re bound to feel the dramatic changes taking place in the local housing market.
And now that’s not just limited to Seattle and the surrounding areas: recently released data shows that the entire state of Washington is becoming a pricier place to live.
As a result, we’ve been cranking out the coverage – much of it from new real estate reporter Mike Rosenberg, who you can follow on Twitter here. There’s a lot to keep up with, so we’re rounding up of some of the real-estate stories that we’ve written in June.
The housing market
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Across the Seattle metro area, about 75 percent of home sellers have received multiple offers so far this year. That’s pushed the majority of homes to sell above their list price, and has left many buyers frustrated and shellshocked by a process that’s often swift and secretive.
Bidding wars have reached a new 10-year high for Seattle homebuyers, and those who have been through it offer advice for coming out on top.
King County’s median single-family home is now $560,000, the most ever and up 55 percent compared to four years prior. The monthly S&P/Case-Schiller housing also confirmed this. With very limited inventory, some buyers are taking dramatic steps to secure housing — including camping out overnight.
Recent research shows that more than a third of Airbnb homes/apartments for rent are by hosts who don’t even live in them.
Some landlords are going far beyond incremental hundred-dollar rent hikes, slapping huge increases on renters as the owners try to get their piece of a heated market.
Washington’s escalating prices have sent it zooming past several other states toward the top of the list of priciest places in the nation to own a home.
The trend in deep-pocketed Californians looking at tech hubs other than Seattle could be a rare, albeit small, sign of relief for local homebuyers.
The findings could be a sign of what’s to come as the Puget Sound area considers a massive transit expansion along with new homes near stations.
The Seattle City Council approved a bill that would prohibit landlords from raising the rent on an apartment with health or safety violations.
The Seattle City Council’s land-use committee held a public hearing on legislation that would establish Mayor Ed Murray’s Mandatory Housing Affordability — Residential policy.
In several small cities in King County, 20-year plans have been rejected by the regional planning authority because the cities want to grow too much.
Some downtown Seattle high-rise residents are blocking part of Mayor Ed Murray’s affordable-housing plan because they want tower-spacing requirements and other measures added.
Economy columnist Jon Talton has provided some insight into these trends.
Skyrocketing Seattle housing prices cut both ways, helping owners and challenging buyers. But is an Old Testament-style reckoning on the way?
Can’t we have it all? A cool city, vibrant economy and affordable housing? Evidence from 100 metros says it’s tough.
Since you made it this far …
To round out the coverage, something fun:
If you want to live the high life in Washington state, you’ll need a suitable property, preferably with water views, acreage and a 2200-foot landing strip. Especially if you’re Steve Miller.
And if all this wasn’t enough …
Expect the release of MLS housing numbers in the days following the holiday weekend.