Washington

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Fri
17
Feb
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Pierce-Kitsap-Thurston Shows Continuing Strength

Pierce-Kitsap-Thurston Shows Continuing Strength

Pierce-Kitsap-Thurston Shows Continuing Strength

Seattle - Apartment Insights 4th quarter results show the continuing strength of the rental market.  The vacancy rate is 3.64%. Rents climbed 1.5% to $1,111 per month. Not considering rent levels, the market here outperformed metro Seattle for the third straight quarter according to Tom Cain, the firm's principal. 

The data are from his Seattle firm’s statistics and trends on 50+ unit properties in Pierce, Kitsap and Thurston counties. 

Vacancy:  3.64%   

The market vacancy for our nonrandom survey of conventional, stabilized 50+ unit properties in all three counties is 3.64%, up from 3.32% last quarter. The vacancy rate was 4.02% a year ago. The rate for all properties including those in lease-up is 3.92%.

Pierce:  3.55%  

The vacancy rate in Pierce County bumped up from 3.25% to 3.55% this quarter. It was 4.22% a year ago.  

Wed
11
Jan
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Turning Point or Seasonal Doldrums?

Turning Point or Seasonal Doldrums?

Turning Point or Seasonal Doldrums?

Seattle - The latest Apartment Insights survey shows a significant deterioration in a rental market that has been booming for the past five years.

Fourth quarters are typically slow, but this one is markedly so according to Tom Cain of Apartment Insights.  The data are from his Seattle firm’s 4th quarter statistics and trends on 50+ unit properties in the King/Snohomish market.

Vacancy:  4.67% 

The vacancy rate for our nonrandom survey of conventional, stabilized 50+ unit properties in the King/Snohomish market is 4.67%. It shot up from 3.99% last quarter. A year ago it was 4.32%.

Last quarter King and Snohomish were both at 4% vacancy. King took the biggest hit with its vacancy rate increasing to 4.73%. The rate in Snohomish went to 4.41% this quarter. The overall vacancy rate for both counties which includes properties in lease-up is 6.12%.

Fri
16
Dec
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Rental Housing Journal On-Site December 2016

Rental Housing Journal On-Site December 2016

Rental Housing Journal On-Site December 2016  

Rental Housing Journal is the business journal for the Seattle rental housing and multi-family property management industry.

Thu
17
Nov
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Rental Housing Journal On-Site November 2016

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Rental Housing Journal On-Site November 2016

Rental Housing Journal is the business journal for the Seattle rental housing and multi-family property management industry.

 
Thu
20
Oct
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Rental Housing Journal On-Site October 2016

Rental Housing Journal OnSite

Rental Housing Journal On-Site October 2016

Rental Housing Journal is the business journal for the Seattle rental housing and multi-family property management industry.

Fri
16
Sep
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Dupre & Scott Video Report: Waiting for the Interurban

Waiting for the Interurban

Dupre & Scott Video Report: Waiting for the Interurban

In last week's video we talked about all the new apartment units developers are planning to open over the next few years in the Puget Sound region. We presented preliminary results from our fall research. But it added up to a lot of new units, and we expect thozse numbers to help pretty well when we finalize our development forecast at the end of the month. So, given all that new supply likely to hit the market, it seems appropriate to look at some demand trends, which we'll do in today's video. And in a few weeks we will update our forecast to find out if supply and demand are likely to be in balance.

Fri
09
Sep
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Dupre & Scott Video Report: Development Update

Dupre & Scott Video Report: Development Update

Development Update

Developers plan to open 36,500 market rate apartment units in King, Pierce, and Snohomish counties between the beginning of this year and mid-2018. Last September we expected they would open 37,700 units in that period. Close enough. It looks like not much has changed, but don't jump to conclusions just yet. Take a couple of minutes to watch the video. This is preliminary data but we think the final results we will publish in a few weeks will be close to the trends we'll discuss today.

Fri
26
Aug
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Dupre & Scott Video Report: Apartment Price Trends and.. The Skew of the New

Apartment Price Trends and... The Skew of the New

Apartment Price Trends and... The Skew of the New

Last week we talked about apartment price trends by submarket and commented that price trends are distorted, at least to some degree, by the addition of new construction over time. New properties sell for more. Over time these naturally higher priced properties will distort price trends. It's the same "skew of the new" phenomenon we have talked about with rent trends. So let's take a look and see what impact, if any, the sale of newer properties has on price trends.

Fri
19
Aug
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Rental Housing Journal On-Site August 2016

Rental Housing Journal On-Site August 2016

Rental Housing Journal is the business journal for the Seattle rental housing and multi-family property management industry.

 
Fri
19
Aug
The Editors's picture

Dupre & Scott Video Report: Comparing Submarket Price Performance

Dupre & Scott Video Report: Comparing Submarket Price Performance

Comparing Submarket Price Performance

Looking at apartment price trends for the Puget Sound region overall is useful. But prices vary in the various major submarkets and they probably perform differently over time, making some submarkets more attractive for investors. Or do they? To answer that question let's take a look at quarterly price trends and how investments have performed since 2000 in each of these submarkets: Seattle, the Eastside, South King County, Pierce County, and Snohomish County.

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