The rental market continues to show tons of steam. In fact, there was a recent story on the Seattle Times about the resurgence of the Pike-Pine corridor on Capitol Hill in particular with a 12% annual leap in rents in that neighborhood. Dupre+Scott has some awesome charts showing trends for King County overall.
Anecdotally, I had one client rent out her condo with a 10% boost in rent within the same day she posted it on Craig's List (3 applications in a few hours) and another client trying to rent a house and has had the hardest time finding a place that isn't swallowed up by the time they make the decision to pull the trigger (usually only a few days).
If this keeps up, I think we'll be in great shape next year as the Seattle real estate recovery continues to gather some momentum.
By Wendy Leung with Seattle Condo Review: A guide to Seattle Condos and Seattle Belltown Condos exclusively for buyers and sellers.
The sought-after Pike-Pine corridor on Seattle’s Capitol Hill has gone upscale and changed dramatically in recent years, but retains its quirky feel.
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