³ÉÈËXÕ¾

MYNORTHWEST OPINION

Seattle’s ‘hottest’ neighborhoods in 2018

Feb 5, 2018, 4:24 PM

sound transit, seattle...

(AP)

(AP)

If you’re interested in America’s hottest neighborhoods — then you should probably move to California. are in the Golden State (9 out of 10 are in San Jose).

But Redfin notes California doesn’t hold all the most intriguing housing markets. In fact, the country’s tech hubs all boast a few notable corners — including Seattle.

RELATED: Tacoma swelling from Seattle real estate boom

The online real estate company points out a couple categories, featuring four Seattle neighborhoods.

  • Riverview (third most within reach neighborhood)

“Within reach” means Riverview (near Delridge) has more affordable housing, yet doesn’t entirely give up livability. The neighborhood still has plenty of green space and access to transportation, major roads, etc.

Hottest neighborhoods in Seattle:

  • First Hill: homes spend seven days on the market; 65.7 percent sell above list price; $580,000 median price
  • Central District: homes spend 13 days on the market; $544,475 median list price
  • Cedar Park: homes spend 15 days on the market; 42.1 percent sell above list price; $586,000 median price

Too much of a good thing in Seattle?

Redfin makes an interesting point — one that could indicate Seattle’s booming tech economy is a double-edged sword. As the economy thrives, the housing market becomes more expensive. In turn, companies consider other, less-expensive cities.

As Redfin puts it:

While well-established tech cities continue to become more and more expensive, we expect to see many more large companies build additional headquarters in new cities—like we’ve seen with Amazon and most recently Apple. That got us thinking, if tech companies are chasing talent and talent is chasing affordability, what hot places are there that don’t come with a hefty price tag like we see in the Bay Area?

The Bay Area has seen this as tech workers move south of San Francisco for more affordable homes. In Seattle, Amazon is currently considering where it will place a second headquarters. Cities across America have speculated, and hoped, that their town will become the home of HQ2 (and the jobs that come with it). One thing is certain, Amazon won’t be expanding in its hometown of Seattle, or Washington state. Affordability for its tech talent seems to be a major consideration for job-providing companies.

Consider that now that the cost of living locally has “soared” yet again. At the same time, with with record housing prices.

As Windermere Real Estate’s Chief Economist Matthew Gardner pointed out in 2017, Seattle’s housing supply and high costs could become a deterrent for tech companies.

When housing prices are going to be driven up to such a degree (companies) can say, ‘We are creating an online widget, we don’t have to be in Seattle, we can be anywhere. So we need to be very careful with the longer term right now … that means we have to address housing supply.

Could Seattle eventually price itself out of the job market?

MyNorthwest Opinion

childcare snohomish county...

Nate Nehring and Jared Mead, Special Contributors to MyNorthwest

Snohomish County Council members: Here’s how we’re tackling Washington’s childcare crisis

The Snohomish County Council is tackling the state's childcare crisis head-on. Councilmembers Nate Nehring and Jared Mead explain their bipartisan efforts.

1 month ago

INRIX leaving Kirkland...

Kurt Triplett, SPECIAL CONTRIBUTOR TO MYNORTHWEST

City of Kirkland: 8 facts everyone needs to know about our permanent supportive housing project

The city of Kirkland wishes to provide insights into its permanent supportive housing project for the homeless at the old La Quinta Inn.

2 months ago

At the Whatcom Humane in Bellingham, the puppy rush came early...

Brandon Thompson, ³ÉÈËXÕ¾ 7 News

56 puppies overwhelm Whatcom Humane in Bellingham

Animal shelters prepare for puppy season as Whatcom Humane welcomes 56 new arrivals, highlighting the need for community support.

2 months ago

employer shuttles bill...

Matt Markovich

Bill to open bus only lanes to employer shuttles sparks debate in Olympia

A proposed bill in Olympia aims to let employer shuttles use transit lanes, igniting discussion among business and transit leaders.

2 months ago

satellites, night sky...

Bill Kaczaraba

Opinion: With all its sham, drudgery and broken dreams, it is still a beautiful world

American author Max Ehrmann wrote a poem in 1921. It was distributed in a Christmas card in 1933,

1 year ago

Gingerbread House...

MyNorthwest Staff

³ÉÈËXÕ¾ Newsradio wins Bonneville Gingerbread House competition

In a tradition unlike any other, the second annual Bonneville Seattle Gingerbread House competition was fierce between multiple departments.

1 year ago

Seattle’s ‘hottest’ neighborhoods in 2018