A global industrial, business, health, and cultural hub
Discover Seattle's Real Estate
Lying close to the Atlantic Ocean, Seattle is an activity-filled seaport city. It is well known for its perfect mix of the traditional industrialization and ultramodern tech industries. Home to the Port of Seattle and the Seattle International Airport, the Emerald City is a major trade gateway to continents like Africa and Asia. The city prides itself on its high job growth, thanks to the presence of global giants like Amazon, Nordstrom, and Starbucks in the area. Moreover, Seattle has several global healthcare providers, including the Bill and Melinda Gates Foundation and Institute for Health Metrics and Evaluation. Such a thriving economy boosts the real estate market and brings in good ROI for investors.
Culture, History, and Business
First settled in 1851, Seattle grew quickly to become a major mill producer and supplier to the neighboring towns. Although conflicts with Indians in 1856 disrupted the town’s growth, more people settled in the area after the 1869 incorporation of the area by the Territorial legislature. Especially, the town expanded greatly during the 1880s as a result of a rich economy supported by coal, lumber, fishing, wholesale, and shipping industries. With the discovery of gold in 1897 and the arrival of more railway lines in the area in the early 20th century, the city’s population became more diversified. Although Seattle has experienced a boom-and-bust economy over the years, the presence of big companies like Microsoft and Amazon has stabilized it.
As an ethnically diverse city, Seattle has a wealthy culture that is expressed through a lively mix of activities. The city invites locals and visitors to experience art and food from across the globe at Pike Place Market. Seattleites especially love coffee, which has given rise to global retail chains like Starbucks. Also, Seattle hosts several museums, including the Seattle Art Museum, the Burke Museum of Natural History and Culture, and the Museum of History and Industry. Besides, public art lines the parks and streets of the city. Seattle is also a major hub of multimedia production, music, visual arts, and uniting technology.
The good side of Seattle does not end at its history and culture. The Emerald City is also a great business hub. With a GDP of $356.572 billion, it was the eleventh largest metropolitan economy in the US in 2017. The city hosts major global companies, including Amazon, Microsoft, Nordstrom, Starbucks, and Weyerhaeuser, among others. Also, several international healthcare providers, including the Bill and Melinda Gates Foundation, Institute for Health Metrics and Evaluation, and Fred Hutchingson Cancer Research Institute call Seattle home. Moreover, the city hosts several institutes of higher learning, including the University of Washington, Seattle Pacific University, and Seattle University. Therefore, it boasts a strong job growth.
Real Estate Appeal
Investing in Seattle’s real estate should follow a keen analysis of the market. The latest trends have been marked by falling prices, with house prices sharply dropping in the recent years to $750,000. However, experts believe this trend is coming to a stop soon. Also, the city’s job market rose by 2% in 2019 from the previous year. Therefore, there’s no better time to invest in Seattle than today.
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