Bet on the Bellevue Housing Market
One of the key success factors whether you're looking for a new home, or new real estate investment opportunities, is choosing the ideal market. A strong market allows you to find better properties to live in that not only provide for your family's well-being but also appreciate value over time.
In that sense, if you are interested in the Western Washington area, the Bellevue housing market is one of the best alternatives. You should know the different reasons that make this region one of the most solid opportunities to prosper, either as a homeowner or as an investor.
Top-5 Reasons Why Bellevue Housing Market is Solid
It's Neutral Market
One of the great advantages of Bellevue WA real estate is that it remains a consistent performing market. That is, it offers excellent opportunities for both those looking for Bellevue houses for sale and those looking to buy. According to Zillow, for 2018 there was property value growth of 3.7%. However, after the impact of the pandemic, there was more than promising property value growth of 21.5% by December 2021. That gives excellent signs that people investing in this region are sure to see significant and positive returns.
Legislative Changes
A few years ago, a change was made to downtown zoning, which had remained untouched for more than 30 years. This decision by the city council included approval of downtown livability, and besides, the new rules now allow buildings up to 600 feet tall. These rule changes open up a sea of possibilities, as new housing options now exist in more areas of the city. People have more options to decide the type of housing they want, and this is reflected in the growing demand for homes to buy.
A Strong Economy
Real estate for sale in Bellevue WA is also helped by the strength of the region's economy. Over the past few decades, there has been a boom in the tech economy in the downtown area. This growth has opened up a variety of new opportunities and job openings, and many technology professionals are coming to town who are sure to be looking for the best properties for sale in Bellevue.
Good Place to Invest
The general area and market conditions make investment homes in Bellevue an excellent choice for those who wish to do so. The slight excess inventory allows for a slight drop in interest rates, and a slowdown in price increases. This helps make for opportunities with less competition, and great potential for significant returns.
Demographic Advantages
Bellevue's demographic composition is dominated by millennials. This helps ensure that most of the new families being formed by this generation are at the stage of making big decisions, including the choice of where to live. This dominant population prefers to buy rather than rent as they look for stability in the years to come, and helps reaffirm the strength of the city's real estate market.
Trust the Experts
If you are looking for a new home, or want to explore your investment opportunities in this excellent area, you are in the right place. Katrina Eileen Real Estate is one of the leading firms in the region, and we are ready to support you. We have the best team of specialists ready to find the ideal property for you, with the best deals. Contact us.