The Seattle-area condo market began its annual shift into the gradual(er) season, just lately launched knowledge from ApartmentList present. The “gradual season” normally begins across the finish of summer time and runs by the winter. When people begin cozying up with heat drinks—and one another—fewer folks transfer, and lease costs take a dip.
In comparison with final 12 months, rents in Seattle moved down a smidgen in August (-0.4 p.c), however over the course of the month, median lease, which is $2,091, elevated 0.3 p.c—the slowest tempo of month-to-month enhance since February. ApartmentList notes, “If historic traits maintain,” development ought to proceed to downshift for the rest of the 12 months.
At the same time as worth development continues to retreat, Seattle’s lease stays the sixteenth highest within the nation amongst massive cities. Within the metro, Sammamish is dwelling to the most costly lease ($3,028) even after a 1 p.c lower in August. Lakewood stays probably the most inexpensive metropolis within the space, with a median lease of $1,452. However the place are rents taking a much bigger plunge or refusing to surrender their summertime positive aspects? Right here’s the record to search out out.
Ordered by annual lease development.
Lease’s down
3. Kent
After a summer time of comparatively gradual however largely regular lease development, costs in Kent have began to dip forward of the cooler temps. Whether or not the cold-weather decline is gradual or extra steep stays to be seen.
Median one-bedroom lease: $1,415
Median two-bedroom lease: $1,747
Month-over-month lease development: -0.8 p.c
Yr-over-year lease development: -0.8 p.c
2. Edmonds
Lease development within the northern suburb has been bumpy. However after a second month of regular worth drops, we predict it’s secure to say the Edmonds condo market is effectively on its strategy to a definitive hunch.
Median one-bedroom lease: $1,842
Median two-bedroom lease: $2,059
Month-over-month lease development: -0.4 p.c
Yr-over-year lease development: -1.3 p.c
1. Shoreline
Lease development was not within the playing cards for our neighbor to the north this 12 months. With the cooler months, rents will possible proceed to go down.
Median one-bedroom lease: $1,671
Median two-bedroom lease: $2,091
Month-over-month lease development: -0.4 p.c
Yr-over-year lease development: -3.2 p.c
Lease’s up
3. Sammamish
Whereas lease on this picturesque, lake-adjacent space is considerably costlier than final 12 months, the market is lastly beginning to gradual.
Median one-bedroom lease: $2,434
Median two-bedroom lease: $2,688
Month-over-month lease development: -1.0 p.c
Yr-over-year lease development: 6.5 p.c
2. Bellevue
Lease costs within the Eastside hub are heading down for the gradual season, however they’re nonetheless up nearly 7 p.c in comparison with final 12 months.
Median one-bedroom lease: $2,206
Median two-bedroom lease: $2,558
Month-over-month lease development: -0.7 p.c
Yr-over-year lease development: 6.8 p.c
1. Issaquah
The season for lease development is over, however it was a scorcher. August was the primary month rents in Issaquah dipped for the reason that begin of summer time.
Median one-bedroom lease: $2,318
Median two-bedroom lease: $2,729
Month-over-month lease development: -0.3 p.c
Yr-over-year lease development: 7.1 p.c
