Plans take shape for condo high-rise near the Space Needle. A groundbreaking event took place recently at the site of the 40-story high-rise SPIRE. Public sales begin this fall. Dehlan Gwo and Michael Cannon, brokers with Realogics Sotheby’s International Realty, have joined the SPIRE sales team.
Dehlan Gwo, RSIR broker and Founding Member of the firm’s Asia Services Group, said he was thrilled to see Seattle highlighted on a global stage, remarking that it was “also an impressive and very apparent testament to Sotheby’s International Realty’s continued leadership in this space.”
The lack of available condominiums in downtown Seattle continues, especially at affordable price points. Currently, there are just 7 resale homes listed for sale on the NWMLS priced below $700,000, which is now the new median home price for resales after increasing a staggering 19% in November 2017 compared to the prior year. Though market conditions may seem daunting to potential buyers, market pundits say unit reservations and presales can offer much needed relief for those willing to plan ahead.
A recent report in Wall Street Journal explores the impact that China government-issued capital controls are having on Chinese investors, using insight from Realogics Sotheby’s International Realty broker and Asia Services Group member Dehlan Gwo for his expert insight.
Dehlan Gwo and Realogics Sotheby’s International Realty (RSIR) presents a look at the housing market trends for the third quarter of 2017, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.
The Pacific Northwest area continues to set the pace with the Seattle metro area up 12.2 percent as of February 2017, bringing this trend to six months in a row at the top of the US index, and a sharp monthly increase of 1.91 percent.
The year 2016 established new benchmarks for median home prices throughout the region. This imbalance of supply and demand is felt most near urban job centers. With robust employment growth and mounting traffic congestion, demand for in-city lifestyles has never been higher.
The in-city housing market in our Emerald City has a split personality. Buy or rent, the message is the same – it’s going to cost more and more to live here. This fact is reigniting the debate between renting and homeownership and developers are listening.