Local News September 29, 2020

Study Ranks Seattle As Nation’s Best Large City For Real Estate

The real estate competition in Seattle has long been fierce, with tech giants like Amazon and Microsoft pulling ever more workers into the city. Between ample job opportunities, scenic surroundings and charming neighborhoods, it’s easy to see why so many buyers are eager to put down stakes here. But despite this competition — or perhaps because of it — Seattle has recently been recognized as the best market among large cities in which to buy a house.

The study, produced by WalletHub, gave Seattle a score of 67.77 out of 100 — the highest in the nation of any large city, and second-highest overall. Over 300 cities were surveyed, and the only city ranked higher overall than Seattle was Boise, Idaho. The rankings were determined by factors including median home price appreciation, job growth, average number of days a property is on the market and the percentage of homes in the area with negative equity, among 20 other criteria.

Seattle is in good company, too. In Eastern Washington, the town of Spokane Valley ranked no. 2 in the nation among small cities, with Tacoma and Federal Way coming in at no. 5 for best mid-sized and small city, respectively. Bellevue was also highlighted in the study as one of the fastest markets to sell a home, along with Renton.

At the bottom of the list for large cities was Baltimore, Maryland, ranked at no. 65. The worst city for real estate, according to the study, was Miami Beach, Florida, ranked in last place among both small cities and in general at no. 135, with a total score of 37.07.

Among large cities (with populations over 300,000), Nashville and Austin also ranked in the top ten overall, but Seattle was the only west coast locale to rank within the top ten.

What these findings suggest is that despite the pandemic and the tough competition, Seattle’s housing market remains healthy. For buyers who are willing to join the fray, a home in Seattle is a sound investment — and one that many people are seeking in this bustling city.

This article was originally posted on KOMO News.