Despite COVID – 19, the South Sound Continues to Be Among the Hottest US Home Markets

Safe Harbor Property Management feels proud that we’ve loved this area LONG before it was popular! 

With a majority of homes selling within two weeks, Tacoma, University Place, Spanaway, Auburn and  Puyallup, have been recognized as some of the hottest housing markets in the country!

Redfin Real Estate website, as well as local news station KOMO, has recognized our beloved South Sound as one of the nation’s Hottest Markets. 

Price-wise, almost half of the homes sell above the asking price! Only the San Francisco Metro area had a higher percentage. Another impressive stat was that prices were up again while inventory dropped.

More impressive is the typical home was selling in around eight days. Additionally, Tacoma’s supply of homes is down to just over a month. When all those features are brought together, you have a scalding hot real estate market!

Redfin agreed with us here at Safe Harbor that the main reason for the skyrocketing housing world is the rising prices in Seattle have just gone too high for most people. 

Another reason people are choosing the South Sound is the cultural life is as hot as the housing market! New restaurants, parks, and entertainment venues are popping up all the time. No longer do people have to drive to Seattle for a great night out.

In the past, the commute to Seattle from Tacoma was a nightmare. Now, multiple mass transit options exist for people who want the income of Seattle with the low housing costs of Tacoma. 

So, what does this mean for those in the Rental Management world? We are glad you asked!

The experts at Safe Harbor excel at helping our clients review their portfolios! Maybe you have a desire to balance your portfolio with different types of properties. You may have a property you want to sell right now. Maybe you need to increase a rent or two in your portfolio.

Give us a call! We talk about all of these subjects all day long. We know the area, we know the industry and we are ready to help you maximize your profits.