The real estate market has been at the center of discussion in the wake of the novel Covid-19. But this should not scare you if you think of investing in commercial real estate, especially in Seattle. The current changes and trends in real estate have changed the way people view the area.
Seattle has been listed among other cities with soaring home prices, although that seems to reach a threshold of late.
Besides, you can choose to settle in the nearby suburbs rather than in the CBD. All these changes will have different impacts on investors, and it will be your circumstances that will guide you. Read more to find out why Seattle commercial real estate is worthy of your investment.
Why Is Investing in Seattle Commercial Real Estate a Great Option?
If you are still wondering if Seattle is a great option for your commercial real estate investment, you should understand that the inventory is increasing day by day. The recent Seattle Real Estate News reports an increase in stock as compared to last year. You might be worried that due to the recent market peak, the interest rates will climb higher.
However, this should worry you no more as home buyers are still doing their shopping with open houses recording increased traffic and fairly priced homes selling at a relatively higher rate.
Do you still doubt? Well, there's a way you can calculate the inventory in real estate. Simply take the number of listings in the Seattle market and divide by the sales in a given period.
The results will show you that Seattle's housing market witnesses an increase in inventory just like other areas in the U.S. Although the inventory level is not what experts praise, it appears to be balanced than it was months ago.
Seattle Is Among the Top 20 Real Estate Prospects
If you asked whether Seattle was the right place to purchase commercial real estate five years ago, the answer would be much different than you would get today. This is because a few years ago, the Seattle market was flocked by a small inventory characterized by increased prices.
You have to remember that Seattle has long served as Amazon's only headquarters and hence attracted high demand with few commercial real estates.
Now the tide seems to turn with moderate home prices, which have provided a common ground for house investors in Seattle commercial real estate. The initial phases of the Covid-19 caused a sudden stall in home prices, which saw some investors avoid the market.
However, current trends show that the prices have started climbing again and attracting investors to reconsider the area. Remember, Seattle is listed as one of the top 20 real estate prospects to watch in the U.S. This should be the best assurance for you as you consider investing there.
Although the best investment strategy depends on your circumstances, it is wise to invest in an area listed for real estate experts' growth.
The city and its neighborhoods offer great opportunities both for you as an investor and your clients. Being a city of constant evolution and change, Seattle offers the surest indication that it will remain popular and profitable for commercial real estate investors. All you have to do is do your homework and ensure you understand the place pretty well.