The Seattle housing market shines bright, through the economic gloom of worldwide pandemic. The Seattle marketplace remains highly competitive, as homes receive an average of five offers and sell in twelve days. Seattle home prices were 13.6% higher in December 2021 in comparison to 2020 rates. Comparatively, the average national prices rose 10.4%. Seattle homes under $490,400 were up roughly 15%, while houses costing approximately $734,100 rose roughly 12 to 13%. A five-year price climb average reveals Seattle homes outpace national sales by 22.2%.
The Market
An increase in Seattle sales prices, bidding wars, low mortgage rates, and short sale turn-around is attributable to limited marketplace listings. Potential sellers are waiting out the pandemic and buyers are looking outside the city as work from home has become pandemic prevalent. (Groover, 2021) Buyers are focusing on interior spaces, not only for standard living, but for their new home workplace.
The pandemic transformed how Americans regarded their homes. The average person, pre-pandemic, typically spent 40-60 hours a week away from home. A domestic workspace was not essential prior to the current pandemic business environment. A deeper appreciation for one’s home interior and residential workplace necessity simultaneously increased as commercial pandemic protective measures persisted nationwide. (King, 2021)
Desired Details in Seattle Homes
Home functionality altered for everyone, families, singles, or couples, but with a common theme, making the home a bright living atmosphere to boost happiness. People became creative with their spaces as time spent home drastically grew. Livelier interior paint tones have become increasingly popular to create a cheerier touch. Beiges, warmer grey, persimmon flare, and inviting greens resembling nature are on the rise. Walls and ceilings appeared to grow taller with welcoming colors, superficially enlarging the square footage. Another trending paint method is layered neutrals with bold applications. Warm neutrals, jewel tones, and richer hues escalated in popularity as people remained inside their homes for longer durations. Neutral colors are shifting to cooler and warmer and are coupled with natural light. Many homes are seeing a face-lift which include additions of skylights, more and larger windows, to draw in natural light to compliment the adventurous warmer paint colors. (King, 2021)
Sellers could accrue lessons learned from current interior vogues during a pandemic constricted world. The Seattle marketplace maintains the Nation’s number two spot for home sale prices. (Groover, 2021) Sellers can renovate their houses, for a competitive edge, understanding existing paint and lighting preferences by so many other Seattleites. A cheerful interior amplifies happiness which ultimately increases productiveness when teleworking from the home office. Seattle, known for its cloud coverage and rain, is on the sunny-side of the real estate market. As are the residents paint and lighting!
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