RE: Markets to watch in 2018
This year’s Emerging Trends in Real Estate* survey respondents have selected Seattle as the top-ranked market, up from being ranked number four last year.
Many know Seattle as being home to tech giants or for having a well-educated labor force. However, our survey respondents identified Seattle as being strong across a number of factors, including demographics and livability, cost, and technology readiness.
Local property/Market outlook
- Positive outlook for all property sectors in Seattle, with the strongest outlook for investment and development in Industrial and Single Family housing
- Local economic outlook, strong investor demand and an abundance of capital available for real estate investment and development
Demographics and livability
- Population growth in Seattle is twice the national rate and the market is expected to gain nearly 29,000 new residents a year over the next five years, with the population aged 15 – 34 rising by a total of 17.3% during that same period
- Seattle has a young, educated population (17% with graduate or professional degrees and 37% with associates or bachelors degrees)
- Top ranking for outdoor activities, with 93% of residents with walkable access to a city park
- Seattle is rated as a top 5 culinary market
- Top rated microbrew market with 1 brewery per 19,000 residents
*Now in its 39th year, Emerging Trends in Real Estate is one of the oldest, most highly regarded annual industry outlook for the real estate and land use industry.Their market outlooks are based on an extensive survey, multiple interviews, and individual market focus groups.