Washington State’s Housing Market – Getting Sunnier by the Day
When you think of the job market over the past few years, you think of a downward trend. However, Washington state’s technology sector has been steadily growing. Since 2010, tech companies have added more than 15,000 new jobs to the Evergreen state. Tech jobs here are actually growing at a faster pace than they are in Silicon Valley!
That growth helped Washington state’s housing market stay afloat during the recession – and grow in the years since.
So, what does the housing market here look like now?
As you can probably guess, Seattle is the shining star when it comes to real estate in Washington. Even in the traditionally-slow winter months of late 2012, homes for sale in Seattle were selling at a feverish pace. Bidding wars became the name of the game, and the median sales price was well over $400,000.
As a result, realtors in Washington are chomping at the bit to see what the spring selling season brings. After all, that’s traditionally the busiest time of year here! If 2012’s momentum can keep up for a few more months, Seattle’s housing market could see a very prosperous 2013. (Although, it is fair to point out that, while prices here are on the rise, they’re still not as high as they were before the bubble burst.)
OK, so what about the rest of the state?
Realtors in Washington are, generally, having an easier time than their counterparts in other areas of the country because the Evergreen State’s unemployment picture is rosier than other areas’. And, since the tech industry is one of the few areas that is really booming these days, the people who work in Washington can count on keeping their jobs for awhile. Those steady paychecks mean that more people can feel comfortable buying new homes.
Tacoma isn’t content to settle for the typical wait-for-jobs-to-come-in-and-stimulate-housing cycle to take over. Instead, city leaders there have an action plan for jump-starting the local housing market in 2013. Among other things, they’ve got a downtown revitalization planned, development planned along the waterfront, plans to attract more investors to the Port of Tacoma, and ideas to add to the city’s arts scene – all of which will encourage people to move to the city and, thus, need to buy homes.
The Tri-Cities may not get as much publicity as some of the more populated-areas, but they’re getting some headlines of their own – specifically, for the gains they made in 2012 for sales prices, employment, and building activity. So, expect to see realtors in the Tri-Cities working hard in 2013, too!
Bottom line – the weather may be cold and damp for much of the year in Washington, but the housing market here is looking sunnier by the day!
Living in Washington
How do wide open skies, breathtaking mountain views, and wild Pacific Ocean beaches sound? That’s what Washington State offers its residents!
Nicknamed “The Evergreen State” for its abundant evergreen forests, both the state topography and the climate are divided by the Cascade Mountains. Western Washington is mild yet one of the rainiest regions in the world, with some areas receiving more than 200 inches of rain per year. In contrast, eastern Washington experiences cold winters, hot summers, and very little rainfall.
Before you grab your coat or your umbrella, let’s go over some of Washington’s fast facts:
- What is the population of Washington?
- The population of Washington is 6,897,012
- What is the capital of Washington?
- The capital of Washington is Olympia
- What is the largest city in Washington?
- The largest city is Seattle
About 60% of Washington’s residents live in the Seattle area – making it the core of business, technology, transportation, and industry along the Puget Sound. However, the entire state is known for aircraft and missile manufacturing, shipbuilding, metal products, machinery, chemicals, and food processing.
Washington’s rich forests help make the state a leading lumber producer in the country. It is also the number one producer in foods like apples, dry edible peas, hops, pears, lentils, red raspberries, and sweet cherries. If you love, fresh fish, there’s plenty of it here, too!
If you love to explore nature, Washington is the ideal spot for you. With three national parks and two national monuments, as well as nine national forests, 31 federally protected wildernesses, and 23 national wildlife refuges, there is something for everyone to discover here!
Some of the most popular sites include Mount Rainier National Park and the infamous Mount St. Helens National Volcanic Monument. This 110,000-acre monument was reserved for research, education, and recreation following the 1980 eruption of Mount St. Helens.
Another popular site that residents never get tired of is the Space Needle tower in Seattle. This landmark is 605 feet high at its highest point, and it features an observation deck, a gift shop, and a rotating restaurant. You can see the downtown Seattle skyline from the observation area, as well as the Cascade and Olympic Mountains, Mount Rainier, Mount Baker, Elliott Bay as well as neighboring islands.